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Ajman Bank Home Finance for Expats

Ajman Bank Bank

Home Finance for Expats

Minimum Salary

AED 20K

Flat Rate

1.98%

Reducing Rate

3.59%

Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

25%

Repayments Up To

25 Years

Advantages

  • Quick approval
  • Free takaful life insurance
  • Hassle free documentation
minimum salary

AED 20K

Minimum Salary

flat rate

1.98%

Flat Rate

reducing rate

3.59%

Reducing Rate

max finance

AED 15000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

25%

Down Payment

repayment

25 Years

Repayments Up To

Advantages

  • Quick approval
  • Free takaful life insurance
  • Hassle free documentation

View details on bank page

Features

  • Follows Islamic banking principles
  • UAE Residents(Expats) are eligible
  • Minimum salary of AED 20000 is required
  • Home Finance is provided at a fixed interest rate of 1.98%
  • Home Finance is provided on a reducing interest rate of 3.59%
  • Salary transfer to Ajman Bank account is not required
  • Maximum loan amount provided is AED 15000000
  • Takaful insurance for life and property is required
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 25% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Takaful life insurance is provided for free
  • Salary transfer is optional
  • High finance is provided
  • Quick processing and approval of the loan
  • Less documentation
  • Low-profit rates
  • Follows sharia banking laws
  • Can get pre-approval details
  • Provides finance to both residential and commercial properties

Frequently Asked Questions

⭐ Is property and life insurance mandatory?

A. Yes, getting the property and life insured is mandatory.

⭐ What are the charges for life insurance?

A. Ajman Bank is providing free takaful life insurance.

⭐ For how long is the takaful life insurance provided for free?

A. The free takaful life insurance is provided for the entire tenure.

⭐ How long does it take to verify my documents and approve the loan?

A. The processing of the loan takes 2-3 working days.

⭐ Can I transfer my existing home loan to Ajman bank?

A. Yes, Ajman bank provides buyout loan facility.

⭐ Can I get details of pre-approval?

A. Yes, you can know pre-approval of the loan.

⭐ What are the charges for pre-approval?

A. The fees for getting pre-approval is AED 3000.

⭐ Are self-employed expats eligible to get the mortgage loan?

A. Yes, self-employed expats are eligible to get Ajman bank mortgage loan.

⭐ Are there any charges for partially settling the loan?

A. Yes, 1% of the outstanding loan amount should be paid as partial settlement fees.

⭐ Can I clear my loan before the tenure?

A. Yes, Ajman bank provides early settlement option.

⭐ What is the minimum age for Expats to eligible for the loan?

A. Expats need to be minimum 21 years to be eligible for the finance.

⭐ What is the maximum age for Expats to eligible for the loan?

A. The maximum age of Expats should be 65 years to be eligible for the loan.

Ajman

Ajman Bank, launched in 2009 is a young, agile Islamic commercial bank that is built on the values of trust, integrity, and transparency. The Emirate's government owns 25% in the bank which is again a strong support. Their way of measuring excellence is based on how efficiently you think they respond to your financial needs. They have brought the human touch back to banking by listening to you.

Ajman Bank Personal Finance is based on the Islamic financing structure of Murabaha, a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin.

   Get in touch with Ajman Bank Customer Care