Arab Bank Housing Loan | MoneyCamel

Arab Bank Housing Loan

Arab Bank

Arab Bank Housing Loan

New Home Loans

Free Arab Bank Visa Credit Card for the first year.

CAMEL VIEW
  • Interest rates starting at 3.25%.
  • Auto-subscription to Elite program.
  • Minimum monthly salary is AED 25,000.
  • Should have been in UAE for 5 years.
FEATURES
Interest/Profit Rate 
4.75 % p.a.
Maximum Loan Amount 
AED 4,000,000
Maximum Loan Tenure 
25 years
Minimum Monthly Income 
AED 25,000
Shariah Compliant 
Any
Salary Transfer Mandatory 
No
Maximum LTV 
75 % of Property Value
FEES & CHARGES
Life Insurance Rate 
0.025% of Loan Amount
Property Insurance Rate 
0.05%
Processing Fee 
1% of Loan Amount
ADDITIONAL INFORMATION

Three interest rate options are available - 3.25% fixed for 1 year, 3.49% fixed for 2 years & 3.99% fixed for 3 years. Variable rates apply thereafter (bank margin is 3.5%).

There is an application and approval fee of AED 3,000. You should be a confirmed employee and in your company for at least 2 years and in the UAE for at least 5 years (exception can be made on a case-to-case basis).

You get an auto-subcription to the bank's Elite program (privilege banking service). Buy-out facility is also available.

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