Arab Bank Housing Loan

    Min SalaryAED 15,000
    Flat Rate (As Advertised)1.92% p.a.
    Reducing Rate (est. equivalent)3.49% p.a.
    Arrangement Fee1%
    Down payment25%
    Max Finance Amount5,500,000
    Early Settlement Fee1%

     

    MAIN BENEFITS

    • Free Arab Bank Visa Credit Card for the first year
    • Finance amount up to AED 5.5 million with a repayment period up to 25 years.

    OVERVIEW OF FEATURES

    • You are required to put 25% as downpayment for this product. UAE National finance of 1st property; if the value of property less or equal to AED 5 million 20% down payment is required and if the value of the property is more than AED 5 million 30% is required as down payment. UAE National finance of 2nd or subsequent property; 35% is required as down payment. Expatriate finance of 1st property; if the value of property less or equal to AED 5 million 25% is required as down payment and if the value of the property is more than AED 5 million 35% is required as down payment. Expatriate finance of 2nd or subsequent property; 40% is required as down payment.
    • Finance repayment period of up to 25 years.
    • You require a minimum salary of AED 15,000 per month to be eligible
    • It is a requirement to transfer your salary to apply.
    • The processing fee is 1% of loan amount
    • The early settlement fee is 1% [max AED 10000]
    • Life & property Insurance is covered and the fee is 0.03% of the outsanding balance.
    • The rate is 3.49% variable for one year, then 4.5% variable. The rate is calculated as a reducing rate.
    • This rate is variable and is based on EIBOR plus a margin by the bank.
    • The reducing rate of this finance is 3.49% and the equivalent flat rate is 1.92%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only
    • Any completed property.

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    Arab Bank headquartered in Amman, Jordan is the largest global Arab banking network with over 600 branches spanning five continents. Arab Bank is also present in key financial markets and centers such … see more..