Before applying for any loan, it is always best to take a look at what is being offered by most banks. This should get you started.
Before applying for any loan, it is always best to take a look at what is being offered by most banks. This should get you started.
| Bank | Min. salary | Interest Rate | Down Payment | Max. Loan Amount | Prepayment charges | Loan Tenure | Bank Charge | Benefits |
|---|---|---|---|---|---|---|---|---|
| ADIB | AED 10,000 | Reducing – 2.99% p.a. Flat – 1.65% p.a | 20% | AED 20,000,000 | 1% | Upto 25 years | 0% | · Open to UAE nationals · Different product available for expats · Free insurance provided for property during loan tenure |
| ARAB Bank | AED 15,000 | Reducing – 3.99% p.a. Flat – 2.2% p.a | 25% | AED 5,500,000 | 2% | Upto 25 years | 1% | · Arab Bank Visa credit card provided for free with the loan |
| United ARAB Bank | AED 15,000 | Reducing – 3.29% p.a. Flat – 1.79% p.a | 20% | AED 10,000,000 | 1% | Upto 25 years | 0.8% | · Insurance for property can be availed at an additional amount |
| ENBD | AED 10,000 | Reducing – 3.99% p.a. Flat – 2.2% p.a | 20% | AED 5,000,000 | 1% | Upto 25 years | 1% | · This is for UAE nationals · Different product is available for expats |
| FAB | AED 15,000 | Reducing – 2.99% p.a. Flat – 1.65% p.a | 20% | AED 10,000,000 | 1% | Upto 15 years | 1% | · Both UAE nationals and expats can avail this loan |
Note: Offers and interest rates mentioned above are subject to change as per bank policies.