Dubai Islamic Bank Al Islami Home Finance Off Plan Financing for Freehold Properties

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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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DIB Al Islami Home Finance Off Plan Financing for Freehold Properties

Particulars

Details

Minimum Salary Required (per Month)

UAE Nationals - AED 10,000

UAE Expatriates - AED 12,000

Salary Transfer Required 

No

Islamic Finance Available 

Yes

Loan Repayment Tenure 

Up to 25 years

Minimum Down Payment 

UAE Nationals: 20%

UAE Expatriates: 25%

Maximum Loan Amount

AED 50 million 

Reducing Rate

3.49%

Enjoying complete ownership of both your property and the land to (legally) utilise them as per your plans, the central concept of a freehold property, is also a goal for many. With the individual purchasing the property being its sole owner and having complete authority to use it for any permitted reason, it can be an attractive proposition in terms of both residence and investment. To fulfil this aspiration, a home loan in UAE could prove immensely helpful.

Dubai Land Department (DLD) mentions the purchaser (whether a national or an expatriate) as the owner of the land as well as the property built over it (if any). If all these property ideas sound attractive, you can go for a mortgage loan in UAE from a reputed provider like the Dubai Islamic Bank (DIB).

Al Islami Home Finance Non Resident Property Finance

  • Minimum Salary AED 10,000
  • Monthly Payment AED 7,546
  • Flat Rate NA
  • Reducing Rate 3.49%
  • No Salary Transfer
  • Islamic Finance
  • sharia Compliant

Features & Benefits of Dubai Islamic Bank Al Islami Home Finance Off Plan Financing for Freehold Properties

Dubai Islamic Bank, as mentioned earlier, is one of the most distinguished providers of home loan in UAE. If you opt for the DIB mortgage loan for freehold properties, you can get access to the following exciting features and benefits:

  • Low Profit Rate - The first aspect of concern for any loan borrower is the interest/profit rate charged on it. While several factors exist with respect to mortgage loan in UAE, the profit rate often becomes a central factor in making the decision. With this DIB home loan, the profit rates won’t be of much concern as they are quite low and begin at just 3.49%.
  • High Loan Amount Limit - Recognising the fact that freehold properties may require significant financing, the bank ensures that an individual can get an amount of up to AED 50 million with this DIB home loan. Being a hefty amount, it becomes easier for the customers to fulfil their dream of purchasing their preferred freehold property. 
  • High Accessibility  - With the minimum monthly salary requirements being as low as AED 10,000 for UAE nationals and AED 12,000 for expatriates, the Dubai Islamic Home Finance Freehold Properties is indeed accessible to a large section of the population in the country. 
  • Affordable Down Payment  - Down payment refers to the amount of the property value that the purchaser has to pay from their own pocket. In the case of DIB freehold property finance, the minimum down payment cap is 20% of the property value for UAE nationals and 25% for UAE expatriates. 
  • Islamic Finance Available  - For people searching for Islamic financing regarding a home loan in UAE for freehold properties, Dubai Islamic Bank also offers Islamic financing for freehold property loans. 

Eligibility Criteria for Dubai Islamic Bank Al Islami Home Finance Off Plan Financing for Freehold Properties

As mentioned earlier, the minimum eligibility criteria for the DIB Al Islami Home Finance for Freehold Properties are easy to fulfil, with applicants above the age of 21 years and having the following minimum salaries eligible to consider for this DIB home loan.

Minimum Monthly Salary for UAE Nationals 

AED 10,000

Minimum Monthly Salary for UAE Expatriates 

AED 12,000

How to Apply for Dubai Islamic Bank Al Islami Home Finance Off Plan Financing for Freehold Properties?

Now that you are aware of all the salient features of this DIB home loan, it's now time to check out the process for applying for this home loan in UAE.

  • Through the Official Website of the Bank - This is an immensely convenient way to apply for a freehold property home loan with DIB. You can simply visit the official website of the Dubai Islamic Bank and head to the ‘Finance Your Home’ section. After checking out all the available plans and their key features, you can opt for a plan that fulfils your needs. For your preferred plan, you can click ‘Apply Now’, fill out the application form with basic details like your income, nationality, etc., and submit the form.
  • Through a Bank Branch - One can also apply for a Dubai Islamic Bank home loan offline at any of your nearby branches. After finding the nearest bank branch, you can plan a visit by collecting all the required documents for the application process. Once you are at the branch, contact an executive to obtain the form. This is where keeping the documents ready can prove handy, as you can fill out the application form, attach the specified documents, and submit them to complete the process. It should be remembered that you will have to wait for the bank to verify your application and connect with you whether you apply for the DIB mortgage loan online or offline.

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

Reasons to Choose Dubai Islamic Bank Al Islami Home Finance Off Plan Financing for Freehold Properties

Dubai Islamic Bank is a renowned financial institution in the UAE as well as the Middle East. With its plans for a mortgage loan in UAE, you can get to enjoy a high loan amount at affordable profit rates. Moreover, with a manageable down payment limit, you can begin planning for your freehold property today with the DIB home loan in UAE. 

Disclaimer: While this plan is not available with us at the moment, you can check out the best plans for a mortgage loan in UAE on our website. Head to the ‘Banking Products’ category on policybazaar.ae, click on ‘Home Loans’, and start exploring!