Sharjah Islamic Bank Tamallak Home Finance for Expats (under construction)

    Min SalaryAED 25,000
    Flat Rate (As Advertised)3.31% p.a.
    Reducing Rate (est. equivalent)6% p.a.
    Arrangement Fee1%
    Down payment50%
    Max Finance Amount5,000,000
    Early Settlement Fee2%



    • Finance amount up to AED 5 million with a repayment period of 25 years.


    • This finance is sharia-compliant.
    • For self construction, the down payment is 50%.
    • Finance repayment period of up to 25 years.
    • You require a minimum salary of AED 25,000 per month to be eligible. For self employed customers you require a minimum credit turnover of AED 30,000 per month
    • It is a requirement to transfer your salary to apply.
    • The processing fee is 1% of the finance amount (Min AED 2,000).
    • The early settlement fee for this finance is 2% of the outstanding amount (principal + profit) to date. The bank has the discretion to waive any or all of the total outstanding profit.
    • The property takaful fee is 0.04%.
    • For off plan properties the profit rates start at 6.5% during construction and 6% after construction. This is a reducing rate, and it will vary according to customer profile.
    • This is a variable rate. During construction it is based on the Central Bank’s 6 month EIBOR plus a bank margin of 4%. After construction it is based on the Central Bank’s 6 month EIBOR plus a bank margin of 3.75%.
    • The reducing rate of this finance is 6% and the equivalent flat rate is 3.3%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.

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