CBI Home Loan in UAE

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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

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Get Home & Mortgage loan at Lowest Interest Rate

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

Established in 1991, Commercial Bank International (CBI) is among the top banks in the UAE. As a relatively new bank, CBI UAE offers various financial products and services that make banking a convenient experience for everyone. This list includes CBI home loans, which can be helpful for people looking to buy, build, or renovate their homes.

What’s worth remembering is that CBI also offers personalised assistance to customers throughout the home loan application process - right from assessing their eligibility to helping them select the most suitable loan product. With its comprehensive range of home loan options and customer-centric approach, CBI UAE is a popular choice for homebuyers in the UAE.

Types of CBI Home Loans

As a customer, you can choose from a variety of home loan types and interest rates such as fixed-rate mortgages, adjustable-rate mortgages, and so forth. Here are the major types of home loans in UAE offered by Commercial Bank International -

  • Home Loan for Salaried Individuals: This is a home loan for salaried applicants with free property insurance and competitive interest rates.
  • Home Loan for Business Owners: Both variable and fixed rate options are available for this mortgage loan in UAE with a tenure of up to 25 years. 
  • Home Loan Saver: Special saving rates, no requirement for maximum or minimum balance, 2% interest per annum, and more.

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Eligibility for CBI Mortgage Loan

The eligibility criteria for securing a CBI home loan in UAE vary for UAE nationals and expats. Check out the table below to get a clear idea regarding the general eligibility requirements for these loans -

Eligibility Criteria UAE Nationals Expats
Age Requirement 21-65 years 21-60 years
Minimum Salary AED 15,000 (with salary transfer) and AED 20,000 (without salary transfer) AED 15,000 (with salary transfer) and AED 20,000 (without salary transfer)
Length of Employment  At least 6 months  At least 6 months 
Loan Amount up to  8 times your annual income 7 times your annual income
Loan to Value Ratio Up to 80% of the property’s value Up to 75% of the value of the property 
Minimum Down Payment 20% of the property’s value 25% of the property’s value
Check Home Loan Eligibility in UAE

Features and Benefits of Securing a CBI Home Loan in the UAE

As mentioned earlier, CBI mortgage loans are offered with numerous features like competitive interest rates, flexible repayment terms, and more. Let’s explore these features and benefits in detail below:

Features of CBI Home/Mortgage Loan in Dubai, UAE

  1. Competitive Interest Rates: CBI home loans are offered at competitive interest rates, making them affordable for borrowers.
  2. Flexible Repayment Terms: The bank offers flexible repayment terms going up to 25 years. With this, you can easily repay this home loan in UAE in affordable instalments and follow a repayment schedule that suits your financial planning.
  3. High Loan Amounts: With CBI mortgage loans in UAE, you can get high loan amounts of up to AED 15 million to purchase your dream home. Note that the upper limit on the loan amount is AED 15 million if you are a UAE national and AED 10 million if you are an expat. 
  4. Easy Application Process: The bank offers a simple and quick application process that can be completed online or in person at one of their branches.
  5. Minimal Fees: The fees and charges related to this home loan in UAE are minimal and easy to understand.

Benefits CBI Home/Mortgage Loan in Dubai, UAE

  1. Competitive interest rates that make the loan more affordable for you
  2. Easy application process that saves your time and effort
  3. Free property insurance 
  4. Pre-approved credit cards 
  5. Personalised customer service to help you throughout the loan application and repayment process.

Interest Rates of Different CBI Home Loans

Check out the table below to know about the general CBI mortgage loan interest rates - 

Type of Home Loan Interest Rate
Variable Rate Home Loan 3.49% to 4.5% per year
Fixed Rate Home Loan 3.49% to 4.5% per year

It must be noted that interest rates may vary as per various factors including the loan amount, repayment period, your creditworthiness as a borrower, income, and so on.

Documents Required to Get CBI Home Loan 

When you apply for a CBI home loan in UAE, you would be required to present a few documents -

  • Valid Emirates ID
  • Valid Passport
  • Salary Certificate 
  • UAE Residence Visa along with a valid Passport
  • Salary Transfer Letter (if opting for salary transfer)
  • Bank statements for the last 3 months
  • Liability or Clearance Letter from another lender when switching

Keep in mind that the bank may request a few additional documents at its discretion. 

Home loan in UAE - Policybazaar uae

How to Apply for CBI Home Loan through Internet Banking in UAE?

Applying for a Commercial Bank International home loan in UAE is a straightforward process, especially when done through policybazaar.ae. Let’s find out how you can apply for the CBI mortgage loan from our website -

  • Continue on our website - policybazaar.ae - and select the ‘Banking Products’ option from the drop-down menu.
  • Choose ‘Home Loans’ to reach the main page for the same. 
  • Fill out the lead form here and submit it. Note that you will be asked for a few details related to your income, nationality, residence, and so forth
  • Once you submit the form, you will be taken to our home loan quotes page.
  • You can compare the plans as per their key features, interest rates, fees, and more.
  • Look for the CBI home loan products and click on ‘Apply’ against the plan of your choice.
  • Follow the instructions prompted on the screen to complete the procedure.

Policybazaar UAE is a third-party aggregator website that hosts the best home loans in UAE from the leading providers in the country. With us, you can enjoy numerous benefits like -

  • Access to the best mortgage loans in UAE from the top-rated providers in one place
  • Platform to easily go through and compare the plans
  • Affordable loans at low rates of interest
  • Customer service team available 24/7 to help you with your queries and concerns
  • Transparency with respect to all the fees and terms

How to Use the CBI Mortgage Loan Calculator?

CBI home loan calculator is a great tool provided by the bank to help you find the relevant details regarding your Commercial Bank International mortgage loan in UAE. By entering a few details like the loan amount, tenure of the loan, and so on, you can easily calculate the monthly instalment for your loan.

Here is how you can find this calculator and use it -

  • Visit the official website of Commercial Bank International. 
  • Under ‘Products and Services’, click on ‘Loans’.
  • Click on the icon of ‘Home Loans’ on the next page.
  • Scroll down a bit to find the calculator.
  • Enter the required details or adjust the bars for the same. For the calculation, you will need to enter details like 
    • The loan amount
    • Interest rate
    • Loan tenure
  • Once you provide the mentioned details to the home loan calculator, it will display the monthly instalment amount that you will have to pay.

Keep in mind that you can adjust the loan amount, tenure, and interest rates as many times as you want to see how the monthly instalment amount varies.

The benefits of using the CBI mortgage loan calculator are many, as you can make informed decisions about how much you can afford to borrow and how much you will have to repay each month. You can use the calculator to compare different loan options and choose the one that suits your needs and budget. Moreover, you would be able to get the results in a second or two with this calculator - all without needing to perform tedious calculations on your own. 

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Terms and Conditions for CBI Mortgage Loan in the UAE

Some terms and conditions that you should keep in mind while applying for a loan with the CBI bank are given below - 

  • The bank would charge a valuation fee of AED 2,500 for its home loan in UAE. 
  • Whether you opt for early settlement or partial settlement, you would be required to pay a fee of 1% of the amount or AED 10,000 whichever is lower.
  • A processing fee of 1% of the loan amount is charged by the bank.
  • In case you fail to pay the instalment by the due date or make a default, you would be subject to 2% of the delayed amount (minimum of AED 50 and up to AED 700) in the form of fees.

Why Choose CBI Home Loans?

Commercial Bank International is among the most reputed banks in the UAE. As far as CBI mortgage loans are concerned, the bank offers them along with several benefits and features that can help you make the most of them. This includes quick processing, no fees for buyout processing for re-mortgage finance, free partial settlement of up to 40% per annum, free property insurance, and more.

Additionally, salary transfers are not mandatory for CBI home loans. Whether you are a salaried individual or a self-employed applicant, you can easily apply for this loan. Yet another benefit offered by the bank is that you can have the instalments deferred for a period of up to 90 days. These features, combined with the bank’s name and excellent services, make CBI home loans a great option in the UAE.

FAQ's

Q1. How much can I borrow from the CBI home loan in the UAE?

Ans: The amount that you can borrow with a home loan from CBI would depend on your income, credit history, nationality, the value of the property you wish to purchase, and more. If you are an expat, you can get a loan amount of up to 7 times your annual income - for UAE nationals, this limit can go up to 8 times their income in a year.

Q2. What is the maximum loan amount that CBI offers for a mortgage loan in the UAE?

Ans: The maximum loan amount for a home loan in CBI is AED 15 million for UAE nationals and AED 10 million for expats.

Q3. What is the loan tenure for a CBI home loan in the UAE?

Ans: You can get a CBI home loan in UAE and repay it in a tenure of up to 25 years.

Q4. Can I prepay my CBI home loan?

Ans: Yes, you can pay your home loan in part or full before the end of the tenure. Keep in mind that a fee would be levied by the bank, whether you settle partially or in full early.

Q5. Can I switch my home loan to CBI from another bank?

Ans: Yes, you can switch your home loan to CBI from another bank by applying for a balance transfer.

Q6. What is the processing fee for a CBI home loan?

Ans: The processing fee for a home loan in UAE from CBI is a percentage of the loan amount (calculated at 1% of the amount) and covers the cost of processing the loan application.

Q7. What documents do I need to provide for a home loan application in CBI?

Ans: You would need to provide documents such as a valid Emirates ID card and passport, salary certificate, employment contract, bank statements for the last 3 months, and so on for your CBI home loan application. Note that the bank may require additional documents at its discretion.

Q8. Can I get a CBI home loan if I am self-employed?

Ans: Yes, self-employed individuals can also apply for a home loan with the bank.

Q9. What is the maximum loan-to-value (LTV) ratio for a home loan from CBI?

Ans: The maximum loan-to-value (LTV) ratio for a CBI home loan is generally 80% for UAE nationals and 75% for expatriates.

Q10. What happens if I default on my CBI home loan in the UAE?

Ans: If you default on your home loan, the bank would charge the late payment fees, initiate legal action against you, and even confiscate your property.

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