DIB Al Islami Home Finance Commercial Property Balance Transfer / Buyout

T&C Apply

  • 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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  • Dubai
  • Abu Dhabi
  • Sharjah
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Whether having the required funds for self-financing or not, several individuals opt for a home loan in UAE when making plans to buy a residential property in the country. However, it might happen that you would like to transfer your mortgage loan in UAE to another bank for convenience, better rates and conditions, or any other reason. In such cases, you will find a couple of banks that allow the same, i.e., balance transfer of your loan. One of the most eminent options in the country for the same, however, is the DIB home loan. 

DIB home loans in UAE offer a wide variety of property financing schemes that provide the required funds with excellent associated conditions and benefits. This article will discuss the Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout and the major DIB home loan features in detail.

Features & Benefits of DIB Al Islami Home Finance Commercial Property Balance Transfer / Buyout

Here is a list of all the essential features offered by Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer/Buyout.

  1. AED 50 Million Loan Amount- DIB provides financing up to AED 50,000,000 with this home loan in UAE.
  2. Affordable Profit Rates- Dubai Islamic Bank provides this home loan in UAE at a 5.75 per cent annual profit rate, which can ensure affordable loan costs for your purchase.
  3. Easy Instalments- As Dubai Islamic Bank mortgage loans have a maximum loan repayment tenure of 25 years, you can repay the loan in small instalments over a prolonged period. 
  4. Minimal Documentation Requirement- While the bank will cross-check your details when you apply for this DIB mortgage loan, it is able to do so without requiring many documents from you besides those related to your identification, income, and so forth.
  5. Zero Salary Transfer- Unlike several UAE banks, applicants don’t need to transfer their salary to qualify for a DIB Home Loan in UAE. Nevertheless, keep in mind that an active DIB bank account for salary transfer may qualify you for additional benefits.

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DIB Al Islami Home Finance Commercial Property Balance Transfer / Buyout Interest Rates

One of the reasons that make DIB mortgage loans some of the most popular ones in the UAE is their low-profit rates, which keep the overall loan costs within a manageable limit. The plan here can be found at the following profit rates as shown in the table below:

Home Finance Plan

Rate of Interest

Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout

Starting from as low as 5.75% per annum

Documents Required for Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout

To accelerate the application procedure for a home loan in UAE, make sure that you have all of the relevant documentation ready before applying for a DIB Home Loan. You can keep the following documents ready when applying for the same:

Salaried Applicants Self-employed Applicants
  1. Recent Payslips or Salary Letters
  2. Evaluation papers from a bank-approved organisation
  3. Passport/ Copy of Khulasat al Qaid/ Copy of VISA
  4. Relevant property documents
  1. Recent Payslips or Salary Letters
  2. Trade License Copy
  3. Evaluation papers from a bank-approved organisation
  4. Relevant property documents
  5. Articles of Association and Memorandum
  6. Passport/ Copy of Khulasat al Qaid/ Copy of VISA
  7. Last 6-month Bank Statements
  8. Audited Corporate Financial Statements
  9. Notarised power of attorney (if applicable)

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Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout Eligibility Criteria

While anyone would like to enjoy the low-profit rates and other excellent conditions of this DIB mortgage loan by opting for a balance transfer of their home loan in UAE, they would still need to fulfil the following criteria to apply for the same:

Age Requirement

21 – 70 years

Residency

UAE Nationals and Expatriates

Down Payment (of the Property Value)

  • 20% for UAE nationals
  • 25% for expatriates

Salary Requirements

  • AED 10,000 per month for UAE Nationals
  • AED 12,000 per month for Expatriates

How to Apply for DIB Al Islami Home Finance Commercial Property Balance Transfer / Buyout?

You can apply for Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout through the bank's website or one of its branches in your vicinity. Keep the following steps in mind for both the loan applications:

 Applying Online- You can apply for Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout on the website of Dubai Islamic Bank. Simply visit the DIB website, log in there, select 'Finance your home' from the menu, and complete the form for your preferred plan with all the required information and documentation. Once you submit the details, you will be soon contacted by a bank representative for the subsequent procedure.

Applying for a DIB mortgage loan is highly convenient as it minimises the amount of time and work required in the application procedure. In just a few taps or clicks of your device, you will be able to take a home loan in UAE without even stepping outside your room.

Applying Offline- You can apply for a DIB home loan by visiting a bank branch in person. Just like the online option, obtain an application form (from an executive) and fill it out. Submit it with any documents as specified by the bank, and wait for the approval. An executive from DIB will contact you and guide you further concerning the application process.

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Top Reasons to choose Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout

Mortgage Loans from DIB are some of the most affordable home financing products in UAE. With its wide range of financing plans, Dubai Islamic Bank has helped a vast number of customers realise their dream of purchasing a house in the country. 

Given below is a list of all the features that make DIB home loans an excellent financing option.

  • Loan amounts going up to AED 50,000,000 
  • Minimal documentation and swift approvals
  • Under-construction home financing in freehold regions available
  • Profit rates starting from 5.75% per annum
  • 25-year loan tenure
  • Salary transfer not compulsory

FAQs

What is the minimum age required to be eligible for DIB Home Loan in UAE?

Applicants need to be at least 21 years old to be considered eligible for a DIB home loan in UAE.

What is the minimum salary required to be eligible for DIB Mortgage Loan in UAE?

The minimum monthly salary required for a mortgage loan by DIB is AED 10,000 for UAE Nationals and AED 12,000 for Expatriates.

Can I settle my home loan early?

Yes, DIB allows early loan settlement. However, a small fee will be charged for the same.

Can I apply for a DIB home loan as an expatriate?

Yes, both UAE Nationals and ex-pats can apply for DIB Home Loans.

What is the current interest rate on Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout?

Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout has an annual interest rate starting from 5.75%.

How to apply for Dubai Islamic Bank Al Islami Home Finance Commercial Property Balance Transfer / Buyout?

Visit the DIB website to apply for a DIB Mortgage Loan in UAE. Alternatively, you can go to a DIB branch near you and complete the application procedure.

What is the maximum loan limit of DIB Home Loans?

DIB offers home financing up to a limit of AED 50,000,000.

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