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RAKBANK Mortgage Home Loans

    Min SalaryAED 15,000
    Flat Rate (As Advertised)1.78% p.a.
    Reducing Rate (est. equivalent)3.25% p.a.
    Arrangement Fee1%
    Down payment20%
    Max Finance Amount18,000,000
    Fixed/VariableVariable
    Early Settlement Fee1%

     

    MAIN BENEFITS

    • Finance amount up to 18 million with a repayment period of 25 years.

    OVERVIEW OF FEATURES

    • Expats are required to put 25% as down payment for this finance. UAE Nationals are required to put 20% as down payment for this finance.
    • Finance repayment period of up to 25 years.
    • You require a minimum salary of AED 15,000 per month to be eligible.
    • It is not a requirement to transfer your salary to apply.
    • The processing fee is 1% of the loan amount
    • The early settlement fee is applied as per UAE Central Bank policy, which is 1% of the outstanding amount (principal + profit) to date, or AED 10,000, whichever is lower.
    • The Insurance fee is 0.035% per year of property value
    • The interest rate starts from 3.25% per annum.
    • This rate is variable and is based on EIBOR plus a margin by the bank.
    • The reducing rate of this finance is 3.25% and the equivalent flat rate is 1.78%. The calculation used is a division of the reducing rate by 1.81 and this is indicative only.
    • Most ready projects in Abu Dhabi, Dubai & Ras Al Khaimah


    RAKBANK Mortgage Home Loans
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    More deals from RAKBANK 

    RAKBANK, also known as the National Bank of Ras Al Khaimah (P.J.S.C), is one of the oldest and most dynamic banks in the UAE. Founded in 1976, the Bank underwent a major transformation … see more..

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