Home & Mortgage Loan Eligibility in UAE - Check Eligibility Criteria for home loan & mortgage loan in UAE If you want to apply for home & mortgage loan in UAE.
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Dubai Islamic Bank Home Finance Murabaha Fixed Rate Commercial | |
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Parameters |
Details |
Minimum Monthly Income |
AED 10,000 (AED 12,000 for Expatriates) |
Maximum Loan Amount |
AED 50 million |
Maximum Repayment Tenure |
25 years |
Flat Interest Rate |
Starting from 6.99% |
Minimum Down Payment |
20% of the property value (25% for Expatriates) |
Salary Transfer Required |
No |
Early Settlement of Loan |
Available with a small fee |
Owning a house and designing it as per your preference is one of the great joys of life. With Dubai Islamic Bank (DIB), you can now enjoy the experience of owning a house with the DIB home loan in UAE. The affordable profit rates, flexible repayment tenures, and high loan amounts of Dubai Islamic Bank home finance are some of the reasons making this one of the most preferred options in the UAE.
All these features are bettered if you opt for Dubai Islamic Bank Home Finance Murabaha Fixed Rate Commercial, which allows access to a home loan in UAE even if your property is under construction. To start planning the purchase of a home in the UAE, you can avail of this type of DIB home loan after finding the key facts about it first.
Murabaha is fundamentally a sales contract as per the Islamic structure of financing. The price of the goods/services and the margin of profit are fixed here. On the behalf of the customer, the bank closes the deal with the seller, with the customer repaying the bank in instalments.
Taking a home loan or a mortgage loan in UAE from Dubai Islamic Bank can offer you several benefits, with the most notable ones discussed below:
While the bank may request additional relevant documents to verify key facts, keeping the following documents handy will help you complete the application process for a DIB home loan smoothly:
In order to apply for a home loan in UAE with Dubai Islamic Bank, the applicants must meet the specific criteria set forth by the bank:
Minimum Monthly Salary Requirements |
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Minimum Age |
21 years |
Maximum Age |
Generally 65 years |
Both online and offline application forms are available if you wish to apply for this DIB mortgage loan. You can visit the official website of the Dubai Islamic Bank in the former case, or visit the nearest bank branch to apply offline. Irrespective of the mode selected, you should make sure that you have all the required documents with you at the time of application to avoid any complications.
You can also check out other plans for DIB home loan and buy them at Policybazar UAE. The following are the steps for the same –
You will be guided by a Policybazaar UAE executive for further details and formalities regarding your application process.
Several aspects make DIB home loan one of the best in the category in the UAE. Offering some of the most affordable home loans in UAE with high finance amounts and low-profit rates, Dubai Islamic Bank has taken a big stride in enhancing the UAE population’s access to affordable home loans. With its Shariah-compliant services, DIB has become popular among customers seeking affordable financial services that also adhere to Islamic finance laws.
Disclaimer: While this plan is not available with us at present, you can check out the best home loan plans on our website. Head to the ‘home loans’ section and start exploring!