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ADIB Home Finance for Expats Most Popular


15,000

25%

3.99%

2.2%


  • Features
  • This is great for
    • You get a free of charge fire takaful cover with no processing fee
    • There is no processing fee for this product
    • High loan amounts
  • Be Aware
    • There is an early settlement fee
  • Main Benefit
    Ability to buy or build a property through one of the products below: Owner to owner - finance a ready property previously owned; Re-financing takeover to be financed by ADIB; Developers financing - finance a property from major developers ADIB works with; Construction financing - building (constructing) a property on an owned land or gifted land. up to 2 units with PHLAN programme; Equity Release

ADIB Home Finance for UAE Nationals Most Popular


10,000

20%

3.99%

2.2%


  • Features
  • This is great for
    • Get a free of charge fire takaful cover
    • There is a low minimum salary requirement
    • High loan amounts
  • Be Aware
    • Loans can only be taken for completed properties
    • Available to only UAE nationals
  • Main Benefit
    Ability to buy or build a property through one of the products below: Owner to owner - finance a ready property previously owned; Re-financing takeover to be financed by ADIB; Developers financing - finance a property from major developers ADIB works with; Construction financing - building (constructing) a property on an owned land or gifted land. up to 2 units with PHLAN programme; Equity Release

20,000

20%

from 5.42%

from 2.99%


  • Features
  • This is great for
    • Long repayment period
    • There is a low minimum salary requirement
  • Be Aware
    • There is a high down payment requirement
    • High rates offered on this product
  • Main Benefit
    Free Partial Settlement upto 20% per year.

40,000

40%

from 2.99%

from 1.65%


  • Features
  • This is great for
    • Fixed rate for 5 years
  • Be Aware
    • There is a high minimum salary requirement
  • Main Benefit
    No up-front Application fee, Free processing fee for buy-out cases, partial Settlement of up to 20% per year free of charge, Annual Payment Holiday starting in the second year of the loan free of charge.

20,000

20%

from 3.29%

from 1.81%


  • Features
  • This is great for
    • Fixed rate for 5 years
    • Long repayment period
  • Be Aware
    • This product is available for Dubai properties only
    • There is a high minimum salary requirement
  • Main Benefit
    No up-front Application fee, Free processing fee for buy-out cases, partial Settlement of up to 20% per year free of charge, Annual Payment Holiday starting in the second year of the loan free of charge.

25,000

20%

from 5.42%

from 2.99%


  • Features
  • This is great for
    • Long repayment period
  • Be Aware
    • There is a minimum salary requirement
    • This product is available for Dubai Properties only
  • Main Benefit
    Free Partial Settlement upto 20% per year.

10,000

20%

from 3.29%

from 1.81%


  • Features
  • This is great for
    • Low salary requirement
    • Fixed rate for 5 years
  • Be Aware
    • This product is available for Abu Dhabi properties only
  • Main Benefit
    No up-front Application fee, Free processing fee for buy-out cases, partial Settlement of up to 20% per year free of charge, Annual Payment Holiday starting in the second year of the loan free of charge.

20,000

20%

from 3.99%

from 2.2%


  • Features
  • This is great for
    • Takaful is paid by the bank
    • There is a long repayment period
    • Specifically designed to takeover loans from other banks
  • Be Aware
    • There is a high minimum salary requirement
    • There is a high early settlement fee
  • Main Benefit
    With Al Hilal Bank Switch Over product, ‎you can move your existing Home ‎Loan/Finance with any other Financial ‎Institution to Al Hilal Bank. We will purchase ‎the property and lease it back to you through ‎Ijara contract for an agreed time period.

20,000

20%

from 3.50%

from 1.93%


  • Features
  • This is great for
    • High loan amounts
    • Property Takaful is paid by the bank
  • Be Aware
    • There is a high minimum salary requirement
    • High early settlement fee if loan is transferred to another bank
  • Main Benefit
    The Al Hilal Bank Easy Buy option is for ‎everyone who is looking to purchase a ‎‎‘Ready’ or ‘Under-Construction’ property.‎Under Easy Buy, we will buy the property ‎from the developer/seller and lease it to you ‎through the Ijara contract for an agreed time ‎period.‎

20,000

25%

from 3.99%

from 2.2%


  • Features
  • This is great for
    • High loan amounts
  • Be Aware
    • There is a high salary requirement for this loan
  • Main Benefit
    Finance up to AED10,000,000 and a repayment period of 25 years

10,000

20%

from 3.99%

from 2.2%


  • Features
  • This is great for
    • High loan amounts
    • There is a low minimum salary requirement
  • Be Aware
    • Available only to UAE nationals
    • There is an early settlement fee
  • Main Benefit
    Finance up to AED10,000,000 and a repayment period of 25 years

20,000

15%

7.24%

3.99%


  • Features
  • This is great for
    • High loan amounts
    • Finance available for any completed property
    • There is a low early settlement fee even if loan is transferred to another bank
  • Be Aware
    • Lower down payment requirements only for UAE nationals
    • There is a high minimum salary requirement
  • Main Benefit
    Repayment up to 25 years; Option to fix your Mortgage rate for 1; 3 or 5 years; Get a preapproved credit card with your mortgage

10,000

50%

from 9.98%

from 5.50%


  • Features
  • This is great for
    • High loan amount
  • Be Aware
    • Only available to UAE Nationals
  • Main Benefit
    Finance amount up to 20 million with a repayment period of 25 years; 1% processing fee; 1% or AED 10K Early Settlement fee

10,000

20%

from 7.25%

from 4%


  • Features
  • This is great for
    • Long repayment period
    • There is a low minimum salary requirement
  • Be Aware
    • Available only for completed properties
    • High rates offered on this product
  • Main Benefit
    High loan amount, long repayment period, sharia compliant product available for completed properties only.

40,000

30%

from 10.43%

from 5.75%


  • Features
  • This is great for
    • Available to Non-UAE residents
    • High loan amounts for properties by all major developers
  • Be Aware
    • There is an early settlement fee
    • Only available to GCC and G20 countries
  • Main Benefit
    Finance amount up to 15 million with a repayment period of 25 years; 1.5% processing fee; 1% or AED 10K Early Settlement fee

20,000

50%

from 6.00%

from 3.31%


  • Features
  • This is great for
    • High loan amounts
    • Property Takaful is paid by the bank
  • Be Aware
    • High early settlement fee if loan is transferred to another bank
    • There is a high minimum salary requirement
  • Main Benefit
    The Al Hilal Bank Easy Buy option is for ‎everyone who is looking to purchase a ‎‎‘Ready’ or ‘Under-Construction’ property.‎ Under Easy Buy, we will buy the property ‎from the developer/seller and lease it to you ‎through the Ijara contract for an agreed time ‎period.

20,000

50%

from 6.00%

from 3.31%


  • Features
  • This is great for
    • Specifically designed to takeover loans from other banks
    • Takaful is paid by the bank
    • There is a long repayment period
  • Be Aware
    • There is a high early settlement fee
    • There is a high minimum salary requirement
  • Main Benefit
    With Al Hilal Bank Switch Over product, ‎you can move your existing Home ‎Loan / Finance with any other Financial ‎Institution to Al Hilal Bank. We will purchase ‎the property and lease it back to you through ‎Ijara contract for an agreed time period.‎

15,000

20%

3.99%

2.2%


  • Features
  • This is great for
    • Premier Customers get discounted arrangement fee
    • Finance available for a wide range of ready properties
    • Specifically designed for financing villas and townhouses
  • Be Aware
    • There is an early settlement fee
  • Main Benefit
    Equity Release:Raise funds against your existing property to finance your major projects; Overpayments:Save with overpayments by reducing the overall amount of interest payable over the lifeof your loan. You can overpay with no redemption penalty subject to a minimum amount of AED25,000. Please note that overpayments can only be made on your usual repayment date. Please note that no re-draws are available; Choose between the Emirates Interbank Offered Rate (EIBOR) or a Standard Variable Rate. The EIBOR-mortage interest rate is three month EIBOR plus a fixed margin.The three-month EIBOR rate is reviewed on a quarterly basis.

25,000

20%

3.99%

2.2%


  • Features
  • This is great for
    • Islamic product with choice of getting fixed or floating rates as well as a combination
    • Finance for ready villas and apartments
    • Loan available to both salaried and self-employed individuals
  • Be Aware
    • Loan amount is not very high
    • There is a high minimum salary requirement
  • Main Benefit
    Choices of fixed and floating rate combination available to both salaried and self-employed

20,000

15%

from 3.99%

from 2.2%


  • Features
  • This is great for
    • High loan amounts
    • There is a low down payment requirement
    • Choice of getting fixed or floating rates as well as a combination
  • Be Aware
    • There is a high minimum salary requirement
    • Available only to UAE nationals
  • Main Benefit
    Choices of fixed and floating rate combination available to both salaried and self-employed

25,000

20%

3.99%

2.2%


  • Features
  • This is great for
    • Loan available to both salaried and self-employed individuals
    • Finance for ready villas and apartments
    • Choice of getting fixed or floating rates as well as a combination
  • Be Aware
    • Loan amount is not very high
    • There is a high minimum salary requirement
  • Main Benefit
    Choices of fixed and floating rate combination available to both salaried and self-employed

15,000

25%

3.75%

2.07%


  • Features
  • This is great for
    • Wide range of approved developments
    • Free property insurance including home content
  • Be Aware
    • Better rate if salary is transferred
  • Main Benefit
    Free property insurance including home content ;Low interest rates;Wide range of approved developments throughout the UAE;Free partial settlement fees up to 20% of outstanding balance (once every 6 months - not permitted during fixed rate period)

10,000

20%

from 3.99%

from 2.2%


  • Features
  • This is great for
    • There is a low down payment requirement
    • There is a low minimum salary requirement
  • Be Aware
    • Available to only UAE nationals
  • Main Benefit
    Finance amount up to AED 5 million with a repayment period of 25 years; 2% early settlement fee; 1% arrangement fee

15,000

20%

4.45%

2.45%


  • Features
  • This is great for
    • High loan amounts
    • Finance available for complete and under construction properties
    • Available finance for both expats and UAE nationals
  • Be Aware
    • High early settlement fee
  • Main Benefit
    Takaful Cover is not included;3% early settlement fee; 1% arrangement fee

15,000

25%

3.99%

2.2%


  • Features
  • This is great for
    • Choice between EIBOR or a Standard Variable Rate
    • Specifically designed to purchase apartments
  • Be Aware
    • Finance available for all ready properties with deeds
  • Main Benefit
    Equity Release:Raise funds against your existing property to finance your major projects; Overpayments:Save with overpayments by reducing the overall amount of interest payable over the lifeof your loan. You can overpay with no redemption penalty subject to a minimum amount of AED25,000. Please note that overpayments can only be made on your usual repayment date. Please note that no re-draws are available; Choose between the Emirates Interbank Offered Rate (EIBOR) or a Standard Variable Rate. The EIBOR-mortgage interest rate is three month EIBOR plus a fixed margin. The three-month EIBOR rate is reviewed on a quarterly basis.
Page 1 of 2

Our Guide to Mortgages or Home loans in UAE

Souqalmal.com allows you to search and compare over 45 home finance products from UAE banks and mortgage providers. Considering a mortgage is a long term commitment, it is important take time required to do your homework and find out the different take the right product for you and our home finance section gives you detailed information about the minimum salary requirement, upfront fees, maximum mortgage finance amounts and a lot more to help you with your search.

Things to consider before taking a home loan in the UAE?

Considering there are over 45 mortgage products in the UAE, how do you choose and what are the various elements that you need to understand and at times will also dictate what product you are eligible for.

1. Fixed rate vs variable rate - The UAE market offers two types of mortgages and you would need to choose what you consider the best option for you. There is a fixed rate home loan where the banks offer you a fixed rate for a set number of years and there is the variable rate which varies with the market rate which means your repayments can change as the rate changes.

2. Finance amount you require - Once your purchase price is set, you need to look at the mortgages that will provide you with the amount you require.  It is important to mention that banks always send a valuation committee to evaluate the house you selected and accordingly set the price they consider as appropriate. The home loan amount offered to you is not necessarily the total value of the house you chose. You would need to negotiate with your bank the valuation price and accordingly pay in cash the difference in amounts on top of the required down payment amount.

3. Down payment – As part of setting your budget for a house, you would need to consider the down payment that would be required by the bank. Down payment on a property in the UAE is a requirement and varies based on whether you are a UAE National or an Expatriate and whether it is the first house you are buying or the second.

4. Minimum salary requirement – Each bank sets a minimum salary they require for you to be eligible of the mortgage.

5. Islamic finance -  There are approximately 30 different mortgages in the UAE offering Sharia Compliant home finance products.  Make sure that you search by “Islamic Finance” on Souqalmal.com to view only the Islamic products

6. Arrangement fee/ Set up fees - There is a one-time processing fee on your mortgage and this fee differs based on the bank and the home loan product you choose.

7. Flat vs Reducing balance rate -  The rate calculation on a mortgage can be calculated in two ways.  The first method, the Reducing balance method charges you a rate based on your outstanding balance.  The second method, the flat fee charges you a rate based on your principal amount for the duration of the term.  A mortgage is advertised as either a reducing rate or a flat rate so make sure that you are comparing all reducing rates or all flat rates and do not mix them up. You can now compare both rates on Souqalmal.com and the general conversion rate used to convert a flat rate to a reducing rate is to multiply the flat rate by 1.814 (this is only an estimate)

8. Pre-payment fees or early settlement fees on your home loan –Tenures range on mortgages and sometimes banks will dictate the period you can pay your mortgage based on the instalment amount and your debt burden ratio. If you plan to pay your loan over 25 years but then decide to pay it earlier, then it is important for you to compare the early settlement fees applied by the different banks or mortgage providers. Make sure you understand what fee applies when you decide to pay part or full payment from your own funds in cash or whether you are moving your home loan to another bank. 


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