Home Loan in UAE

Mortgage loans are useful for those looking to purchase a home in UAE. They provide financing for the purchase of a property and allow the borrower to pay back the loan in instalments over a designated period of time. It is a great way to access large sums of money and is typically used to purchase a home or cover the cost of renovations. ...read more

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  • Flexible repayment periods up to 25 years
  • Processing fees as low as 1%
  • Profit rates starting at 2.75% per year

Get Home & Mortgage loan at Lowest Interest Rate

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Get Home & Mortgage loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

What is a Home Loan?

To ease this challenge, several lending institutions offer mortgage loans in the UAE. As a result, a wide range of options are available to cater to the different needs of people. With a suitable home loan, you can buy your dream home without incurring any financial strains.

On this page, we will cover all the key details related to mortgage loans UAE.

Types of Mortgage Loans in Dubai, UAE

In the UAE, you can choose any of the home loan product types mentioned below:

  • Fixed-Rate Home Loan - Under this type of loan, the interest rate decided at the time of approving the loan doesn't change during the loan tenure. This ensures stability as the borrower does not have to worry about paying off an indefinite monthly instalment amount.
  • Variable-Rate Home Loan - As the term says, a variable interest rate is subject to change throughout the home loan tenure as per the current market rates.
  • Islamic Home Financing - Islamic home financing options are Shariah-compliant products. The home financing is interest-free and is structured as a collaboration between the borrower and the bank.

Buy your dream home through Home Loan @ lowest Rate in uae

Features & Benefits of Home Loan in UAE and Dubai

The top features and benefits of a mortgage loan in the UAE are as follows -

  • High Financing Amount: Banks can offer a finance amount of up to 85% of the property value.
  • Flexible Tenure: As a borrower, you can pay off the loan amount in up to 25 years.
  • Competitive Interest Rates: Most banks offer attractive interest rates on different home loan products.
  • Low Processing Fee: The home loan processing fee is quite low in the UAE, usually around 1% with most banks.

Why Should You Apply for a Mortgage Loan in UAE Through Policybazaar.ae?

When you apply for a home loan in UAE through our digital platform of Policybazaar.ae, you can enjoy a seamless application experience along with various other benefits -

  • On our platform, you can compare mortgage loans online from various providers.
  • You can find the best loan options from the top banks in one place.
  • Our customer support team is available round the clock for assistance.
  • You can find attractive mortgage loan offers on our website.
  • The loan application process is swift and pretty convenient.

List of the Best Mortgage Loans in Dubai, UAE - 2024

Refer to the table below to know the best home loans in the UAE -

Home Loan Product Minimum Salary Required Apply
FAB Islamic Home Finance
  • AED 15,000 (for salaried individuals)
  • AED 25,000 (for self-employed individuals)
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RAKBANK Home in One AED 25,000 Apply Now
Standard Chartered Bank Saadiq Home Finance AED 15,000 Apply Now
Emirates NBD Home Loan for UAE Nationals AED 10,000 Apply Now
Emirates NBD Home Loan for Expats AED 20,000 Apply Now
CBD Mortgage Loan for Salaried AED 12,000 Apply Now
CBD Mortgage Loan for Self-Employed AED 20,000 Apply Now
ADIB Home Loan for UAE Nationals AED 10,000 Apply Now
ADIB Home Loan for Expats AED 15,000 Apply Now
ADCB Standard Mortgage Loan AED 15,000 Apply Now

Home loan in UAE - Policybazaar uae

Home Loan Interest Rates in UAE

Let's explore the interest rates of the best home loan and mortgage loan options below:

Home Loan Product Interest Rates
FAB Islamic Home Finance
  • Fixed Rate: Starting at 3.94%
  • Variable Rate: Starting from 3-month EIBOR + 0.55% for the first year then 3-month EIBOR + 1.5% per year from the second year onwards
RAKBANK Home in One
  • Reducing Rate: Variable rate from Day 1 starting from 3 months EIBOR + 1.69% to 3 months EIBOR + 1.99% reducing per annum
Standard Chartered Bank Saadiq Home Finance
  • Fixed Rate: 1.66%
  • Reducing Rate: 2.99%
Emirates NBD Home Loan for UAE Nationals
  • Fixed Rate: 3.04%
  • Reducing Rate: 5.75%
Emirates NBD Home Loan for Expats
  • Fixed Rate: 3.04%
  • Reducing Rate: 5.75%
CBD Mortgage Loan for Salaried
  • Fixed Rate: 2.18%
  • Reducing Rate: 3.54%
CBD Mortgage Loan for Self-Employed
  • Fixed Rate: 2.18%
  • Reducing Rate: 3.54%
ADIB Home Loan for UAE Nationals
  • Fixed Rate: 2.06%
  • Reducing Rate: 3.75%
ADIB Home Loan for Expats
  • Fixed Rate: 2.06%
  • Reducing Rate: 3.75%
ADCB Standard Mortgage Loan
  • Fixed Rate: NA
  • Reducing Rate: 3.99%

How to Calculate Your Mortgage Loan EMI in UAE?

You can easily estimate your mortgage loan EMI with the help of our online home loan calculator. This is a free tool that displays the approximate amount of your loan instalment on getting a few relevant details.

To use the home loan calculator, follow these steps -

  • Step:1 Open policybazaar.ae.
  • Step:2 Choose 'Financial Calculators' under the 'Banking Products' drop-down.
  • Step:3 Select 'Home Loan Calculator'.
  • Step:4 Locate the calculator and enter the property value, interest rate, down payment amount, and loan tenure.
  • Step:5 The calculator will instantly generate a result and display it at the bottom.

Note: The calculator-generated outcome may vary from the actual amount due to variations in the applicable interest rates.

How to Apply Online for a Home Loan via Policybazaar UAE?

If you’re wondering how to get the best mortgage loan, look no further! With Policybazaar.ae, applying for a mortgage loan is a straightforward process -

  • Visit policybazaar.ae, the official website of Policybazaar UAE.
  • Go to the ‘Banking Products’ drop-down menu and select ‘Home Loan’.
  • Complete the lead form with the correct details and submit it.
  • Once directed to the home loan quotes page, check all the available home loan products.
  • Proceed with the application process as prompted on-screen.

Note: Upon submitting the mortgage loan application, one of our officials will shortly get in touch with you.

Eligibility Criteria to Apply for Home and Mortgage Loan in the UAE

To be eligible for a mortgage loan UAE, you must meet the following common eligibility criteria -

Eligibility Criteria Requirement
Age
  • The minimum age to apply for a home loan is 21 years old.
  • The maximum age to apply for a home loan is usually 65-70 years.
Nationality Both UAE nationals and expatriates are eligible.

Note: The specific criteria of each bank are different. Make sure to check for the eligibility criteria before proceeding with the application process.

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Documents Required to Apply for Home Loans and Mortgage Loans in Dubai, UAE

Given below is a checklist of the documents required to apply for a mortgage loan in the UAE -

  • Emirates ID (original and a copy)
  • Original and a copy of Passport
  • For expats, the UAE residence visa is required (both original and a copy)
  • Latest 6 months’ bank statements
  • Valid proof of residential address
  • Property documents
  • Salary certificate (for salaried employees)
  • Trade Licence (for self-employed individuals)
  • Title Deed of property to be acquired
  • Valid loan account statement for loan takeover

Frequently Asked Questions

Q1. Which bank is best for applying for a home loan?

Ans: Several banks in the UAE offer low-interest home loans and mortgages in UAE to residents and citizens. You can consider applying for your home loan with First Abu Dhabi Bank, Emirates NBD, Standard Chartered Bank, etc.

Q2. Which bank provides the lowest home loan interest rate?

Ans: Several banks in the UAE offer low-interest home loans with a high loan amount. Some of the banks offering the cheapest home loan in the UAE include First Abi Dhabi Bank, RAK Bank, Standard Chartered Bank, etc.

Q3. What is the minimum salary required to get home loan in UAE?

Ans: The minimum salary to apply for a home in the UAE is AED 10,000. However, several banks have set AED 15,000 as the minimum salary criteria in the UAE. Ultimately, you should ensure that you check this particular home loan eligibility criterion beforehand.

Q4. How much down payment does one need to make to get a mortgage loan in the UAE?

Ans: You must make a down payment of 20% of the property value.

Q5. What is the mortgage rate in UAE?

Ans: You will find several mortgage rates in UAE starting as low as 1.99%. However, that’s not all as the rates may go as high as 7% of the loan amount in some cases.

Q6. Is a mortgage loan the same as a loan against property?

Ans: Yes, the only aspect that differentiates mortgages from home loans in Dubai is the secured status of the mortgage. It refers to the fact that a mortgage is given against a property that you currently own. This already-owned property of yours will act as collateral when a mortgage is concerned.

Q7. Is a top-up facility available in home loan products?

Ans: Yes, you can opt for a top-up facility on your existing home loan product.

Q8. Is a home loan calculator accessible to all? Where can I find one?

Ans: Yes, you can access the online home loan calculator on policybazaar.ae for free. Alternatively, you can find it on different bank websites.

Q9. What is the minimum age to apply for a mortgage loan in the UAE?

Ans: As per most banks, an applicant must be at least 21 years old to apply for a mortgage loan.

Q10 Is there an option to add a co-applicant to a mortgage loan?

Ans: Yes, you can opt for a co-applicant when applying for a home loan.

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