Best Mortgage Interest Rates in UAE

It combines your current account, interest savings and mortgage facility to provide a single, easy-to-manage solution with a range of benefits. Major Advantage: Higher is your deposit in your current account; lower is your interest rate  

Main Features / Benefits

Main Features:

This finance is a combination of current account and Home Finance
Home in One is ideal for anyone who is buying home for self-use or investment
Every deposit you make in your current account lowers your interest payment reducing your loan tenure
You can withdraw your balance at any point in time
Interest is calculated on your daily balance, reducing the effective rate of interest
There is a monthly fee of AED 25

Interest Rates & Charges:

Reducing Rate (as advertised): Starting from 4.24% p.a.

Processing Fees: 0.525% finance amount (Nil for Buyout)

Property Valuation Fees: AED 1942.50

Early Settlement Fees: 1% of outstanding amount or AED 10,000 (whichever is lower) 

Partial Settlement Fees: 25% per year of capital balance without penalty

Financial Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 months for salaried & 2 years for self-employed

Salary Transfer: Not compulsory.

Minimum Down payment:

For first property (If property price < AED 5M): 20% for UAE national, 20% for Expats
For first property (If property price > AED 5M): 30% for UAE national, 35% for Expats
For second property: 35% for UAE national, 40% for Expats

Fee Financing: Up to 4.5% of the fees financed, same rate and term of the mortgage

Key Details:

Islamic Finance: No

Maximum Term: 25 years

Finance available for: Ready properties in Dubai, Abu Dhabi & Ras Al Khaimah. Under construction properties only in Dubai

Insurance (Compulsory):

Life Insurance: 0.0242% per month (on outstanding balance)

Property Insurance: 0.035% p.a.