Features:

• Sharia-compliant finance.
• Minimum 25% down payment of the property value.
• Finance repayment term of up to 25 years.
• Minimum salary requirement of AED 7,000 per month.
• No requirement to transfer salary to apply.
• Processing fee:
  • 1% of the finance amount for Ijarah transactions.
  • No fee for balance transfers.
• Early settlement fee: 1% of the outstanding finance amount, capped at AED 10,000.
• Group Takaful rates: Up to 0.03% per month.
• Profit rates:
  • Starting at 3.24% variable.
  • 3.49% p.a. for Standard Ijarah cases.
  • 3.24% p.a. for pure Buyout cases.
  • Based on the Central Bank’s 6-month EIBOR rate plus a bank margin.
• Fixed rate option available for freehold properties under Murabaha.
• Reducing rate of 3.24%, with an equivalent flat rate of 1.79% (calculated by dividing the reducing rate by 1.814, for indicative purposes only).
• Finance available for:
  • Ready properties that can be registered in the customer’s name with the relevant authority across the UAE.
  • Under-construction properties through the Government Housing Scheme – Mohammed Bin Rashed Establishment.