Al Hilal Bank Home Finance

Best Home Loans to buy your dream home

T&C Apply

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

Compare and get the best loan

Cancel
Cancel
By Clicking on "View Quotes", I declare that I am a resident of UAE and holding a valid Emirates ID and agree to the website Privacy Policy and Terms of Use. I hereby give consent to Policybazaar.ae to share my details with the UAE registered banks.

Al Hilal Bank, a progressive Islamic bank, was established in 2007 and has its headquarters in Abu Dhabi. All the finance solutions offered by the bank are Shariah-compliant and adhere to Islamic laws. The bank holds a distinguished status in the UAE for its transparency and client-oriented services to prioritise customer experience while seeking to re-define Islamic banking across the world.

One of the well-known finance solutions offered by the bank is Al Hilal Bank Home Finance, which is immensely beneficial for individuals planning to buy a house in the UAE.

Key Takeaways

  • Al Hilal Bank, one of the most prominent financial institutions in the UAE, has a hassle-free home loan process with minimal documentation. Besides offering a wide range of financial solutions tailored to meet your various needs, the bank also provides an affordable profit rate that enhances the cost-efficiency of the product for your purpose. 

    If you plan to buy a home in the UAE, opting for the shariah-compliant Al Hilal Bank Home Finance could be a great choice due to the long repayment tenure, competitive profit rate, and early loan settlement option. With Al Hilal, an eminent progressive Islamic bank, home loan in UAE becomes easy to obtain and utilise for your next property purchase.

Let's have a quick look into the Home Finance solution provided by the Al Hilal Bank and examine how the bank helps in fulfilling ‘home goals’ in the UAE.

Al Hilal Bank Home Finance

  • Minimum Salary AED 15,000
  • Flat Rate NA
  • Reducing Rate NA
  • Down Payment 0%
  • No Salary Transfer

Key Characteristics About Al Hilal Bank Home Finance 

Parameters 

Details 

Minimum income to take an Al Hilal Bank Home Loan

For a single applicant: AED 15,000

For joint application: AED 25,000

Mortgage Amount 

Minimum: AED 7,000

Maximum: AED 15,000,000

Rate of interest

3.5% p.a.

Pre-payment of loan

Allowed with the payment of non-waived profit or fees

Age limit for applying for Al Hilal Bank Home Finance 

Minimum: 21 years

Loan Tenure 

Up to 25 years

Features & Benefits of Al Hilal Bank Home Finance 

Some of the features and benefits offered by Al Hilal Bank Home Finance are:

  1. Quick Financial Solution - With minimal documentation and quick approval facilities, an Al Hilal bank mortgage loan ensures easy access to the required funds for buying a property.
  2. Low-Profit Rates - Al Halil offers affordable interest rates on mortgage loans to prevent the formation of a burden on your funds due to repayment.
  3. Adequate Loan Repayment Tenure - Home loans may require a long time for repayment considering the amount involved as well as other investments required for a home like maintenance, upgrades, etc. Keeping that in mind, Al Hilal bank offers a loan repayment tenure of 25 years.
  4. Early Settlement - The bank offers you the facility to settle a mortgage loan early if you wish, with the payment of minimal non-waived profit or fees being the only condition.
  5. Mortgage Managers - With an experienced team of mortgage managers available to provide you guidance regarding the Al Hilal Bank Mortgage loan, you can make an informed decision regarding the selection of a loan plan as well as its repayment and management of other finances.

Documents Required for Al Hilal Bank Home Finance  

While signing up for a home loan, it is necessary to provide the bank with a few documents for the purpose of verification. The documents generally asked for by most banks are as follows -

  • Valid Salary Certificate for salaried people
  • Trade License for self-employed individuals
  • Photocopy of valid passport and residence visa page
  • Valid Emirates ID
  • Khulasat Al Qaid (Family Book for UAE Nationals only)
  • Bank statement for the last 6 months
  • Liability letter addressed to Al Hilal Bank
  • Property related documentation

It is crucial to remember that the bank will notify you if it requires any other additional documents as per the Al Hilal Bank policies and procedures.

Eligibility Criteria for Al Hilal Bank Home Finance 

A home loan applicant must fulfil certain eligibility criteria in order to be qualified for the mortgage loan as mentioned below:

Age limit for applying

Minimum 21 years old

Loan against properties in 

Dubai, Abu Dhabi, and the Other Emirates

The salary requirements to avail of the loan are -

For single applicant

AED 15,000 

For joint applicants

AED 25,000

How to Apply for Al Hilal Bank Home Finance?

The application process for Al Hilal Bank Home Finance is generally completed quickly without much effort. You can directly visit the Al Hilal website or its nearest bank branch to apply for a loan. Moreover, other websites like Policybazaar UAE are available to make the process easy. With our website, the process is greatly simplified for users as it compiles the best home loan quotes onto one screen for your convenience.

Here is how you can apply for a home finance loan using policybazaar.ae:

  • Under the top menu bar on the website, click on the "Home Loans" section.
  • A form will pop up on the screen in which you will be required to fill in details like your name, contact number, email address, etc.
  • A range of home loan quotes from the top-rated banks will appear on your screen as per your entered information.
  • You can explore different home loan quotes, compare the benefits of each, and select the most suitable one for yourself.
  • Click the "Apply Now" button located just below the quote to buy your chosen policy.
  • You can then relax, as a representative from Policybazaar UAE will contact you and guide you through the remaining application process. 

While the details mentioned earlier are sufficient for applying for a home loan with Al Hilal bank, you can also go through some quick facts regarding the same below.

FAQ's

Do I need to do a salary transfer in order to apply for a home loan at Al Hilal Bank?

No, a salary transfer is not a necessary step in the process of applying for a home loan with the Al Hilal Bank. However, if you transfer the salary, you will be able to enjoy more financial benefits offered by the bank.

How can I calculate the monthly instalment payable against a home loan?

Visit the home finance page of the Al Hilal bank website and scroll down to the mortgage calculator. Here, select the finance amount, the repayment tenure, and any other requested details and wait for the calculator to display the monthly instalment at the rate of 3.5% p.a.

What will happen if I can't pay back the loan amount on time?

If you fail to repay your loan within the agreed timeframe, you risk losing your property to the bank as the property bought using the loan is the collateral with home loans. However, with mortgage loans, you designate another property as the collateral which can be seized if you fail to complete the repayments on time.