United Arab Bank Home Finance

Best Home Finance 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

Get Home & Mortgage loan at Lowest Interest Rate

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

Purchasing a home requires substantial funding, which can deplete your savings quickly. Instead, you can look into alternative options like United Arab Bank home finance for this purpose.

United Arab Bank Home Finance in UAE – Overview

United Arab Bank is one of the oldest financial institutions in this region, offering a host of financial products. The home loan offered by the bank is the same as any other credit facility extended by other financial institutions for the purpose of purchasing a property.

Here, you will get the funds depending on a property’s market value and then make repayments depending on the loan terms.

Features and Benefits of United Arab Bank Home Finance in UAE

A United Arab Bank home loan in UAE extends a host of benefits to borrowers. Find about them below:

  1. Flexible Repayment Tenure- With UAB, you can choose to repay your loan amount within a tenure of 25 years. Choose a repayment tenure as per your capacity and serve an affordable loan term.
  2. High Loan-To-Value- United Arab Bank offers a massive LTV of up to 80%. This means that you can receive funding of up to 80% of your property’s value.
  3. Financing for Private Villa- You can also obtain private villa financing from this bank if you are a UAE national. This attractive option can help you set up your dream home.
  4. Competitive Interest Rates- United Arab Bank provides mortgage loans for expats and UAE nationals at competitive interest rates. This will ensure that you do not have to experience an overburdened repayment tenure.
  5. Islamic and Conventional Loan Options- With UAB, you can choose between conventional or Islamic loan options. The latter includes a profit rate instead of an interest rate. The profit rate keeps decreasing as you repay the loan amount.

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Documents Required to Obtain a UAB Home Finance In UAE

While applying for a UAB mortgage loan, banks require you to submit a few crucial documents to verify your personal and financial standing. These documents are one of the deciding factors behind your loan application approval. Thus, ensure to keep them handy beforehand.

That said, here are the documents that United Arab Bank might ask you to submit:

  • Copy of your passport
  • A copy of your Emirates ID (only for UAE nationals)
  • A copy of the residence visa (only for resident expats)
  • Your trade licence copy (only for self-employed individuals)
  • SPA or MoU of the property you wish to purchase
  • Title Deed copy
  • Salary certificate from your organisation (only for salaried individuals)
  • Bank account statements for the previous 6 months

Note:that the bank may ask for additional documents if needed. You can contact UAB for further clarifications regarding documents.

Eligibility Criteria for United Arab Bank Home Finance in UAE

Before you proceed with the loan application and submit the above-mentioned documents, it is necessary that you meet the eligibility parameters set by the bank. Meeting these criteria will facilitate your loan application approval process and help you conveniently obtain a home loan in UAE.

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Mentioned below is a tabular format representing the eligibility criteria set aside by UAB:

Particulars Requirements
Employment type Both salaried and self-employed
Nationality UAE nationals and expats
Income for UAE nationals AED 15,000
Income for expats AED 20,000
Income for self-employed individuals AED 50,000

Steps to Apply for a United Arab Bank Home Finance

With the advent of technology, applying for loans has become easier than ever. You can now simply avail your needed credit within a few seconds. 

That said, United Arab Bank extends a dedicated online portal through which you can apply for a housing loan conveniently. You simply need to follow these steps:

  • Step 1:Visit the official website of the United Arab Bank
  • Step 2:Click on ‘Loans’ and then navigate to ‘Home Loan’
  • Step 3:Scroll through the page and click on ‘Apply Now’
  • Step 4:In the next step, you have to enter a few basic details about yourself, such as your name, email address, mobile number, monthly income and more
  • Step 5:Complete the CAPTCHA and click on ‘Submit’

After following these steps, the bank’s representative will contact you regarding further steps. You can also apply for a UAB home loan through Policybazaar UAE website. Here, you will get a chance to compare multiple loan offers from different lenders and then choose one.

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Reasons to Choose United Arab Bank Home Finance

United Arab Bank extends various benefits to prospective borrowers. Here are a few reasons for you to choose this bank for your housing loan needs:

  • Affordable home loans with a tenure of 25 years
  • Options for conventional and Islamic banking
  • The facility of refinance for unencumbered property
  • Competitive interest rates
  • Private villa finance for UAE nationals

A UAB home loan helps you set up the house of your dreams. Start your application now and plan your finances by using an online EMI calculator.

FAQs

What is the interest rate?

UAB offers home loans starting from an interest rate of as low as 3.69% per annum.

What is a home loan EMI calculator?

A home loan EMI calculator helps you calculate your monthly expenses towards home loan EMI payments.

Can I get a home loan with a low credit score?

You may avail of a home loan with a low credit score. However, in this case, the rate of interest would be higher.

How much loan amount can I get?

The loan amount you can get depends on various factors, such as your monthly income, debt-to-income ratio, credit score and more.

How can I increase my credit score?

You can increase your credit score gradually by making timely EMI payments, not taking too many credits at the same time and maintaining a mixed credit profile.       

Reviews & Ratings

4.6 / 5 (based on   18,147 +google icon reviews)

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