CBD Ijarah Home Lease for UAE Nationals

cbd Bank

WarningMessage This product is by the Bank

Ijarah Home Lease for UAE Nationals

Minimum Salary

AED 20K

Flat Rate

2.2%

Reducing Rate

3.99%

Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

Repayments Up To

25 Years

AED 20K

Minimum Salary

2.2%

Flat Rate

3.99%

Reducing Rate

AED 15000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

20%

Down Payment

25 Years

Repayments Up To

Features

  • For salaried people between 21 and 65 years of age are eligible to apply for this scheme
  • For self-employed people between 21 and 70 years of age(at loan maturity) are eligible to apply for this scheme
  • For the salaried individual minimum length of service of 6 months is required and for self-employed individual minimum work experience of 3 years in business
  • For salaried individuals 3 months bank statement is required and for self-employed individuals, original 12 months company and personal bank statement is required to be submitted
  • Minimum salary of AED 20,000 is required
  • Provides financing at an interest rate of 3.99%
  • The reduction rate and the flat rate is 3.99% and 2.2%. This denotes that the computation done was a division of the reduction rate by 1.813.
  • Finance up to AED 15,000,000
  • Required to put 20% down payment for this finance
  • Early settlement fee is 1% of the outstanding loan amount

Benefits

  • Refinance your ready property to get easy access to liquidity
  • Can invest in under construction property
  • You get repayment period up to 25 years
  • You get to repay up to 15% of your Outstanding loan every year without paying any additional charges or fees
  • You get dedicated Staff to assist you further
  • 0% processing fee on Buyouts

Frequently Asked Questions

Q. I’m a salaried individual but I get some income from other sources. Will this be included for being eligible?

A. Yes, you should provide valid documents to prove your additional income.

Q. Is salary certificate a mandatory document?

A. Yes, salary certificate is a mandatory document for salaried individuals.

Q. Is salary transfer mandatory?

A. Salary transfer to CBD account is not mandatory but if you transfer your salary you can avail some extra benefits.

Q. What is the maximum finance provided?

A. Maximum finance of AED 15,000,000 is provided for UAE Nationals.

Q. How much finance is provided on a property?

A. 80% of the property value is provided as finance.

Q. What is the minimum length of business required for self-employed individuals?

A. For self-employed individuals, your length of business must be minimum 3 years.

Q. What is the eligibility criteria for getting a loan to purchase an under construction property?

A. Only UAE Nationals with a minimum age of 21 years are eligible for getting a loan to purchase an under construction property.

Q. For how long insurance is provided?

A. Insurance is provided for complete tenure.

CBD

Commercial Bank of Dubai (CBD) offers a wide range of retail and commercial banking products and services, in both conventional and Shariah-compliant formats, with a network of 26 branches and over 210 ATMs throughout the UAE. The bank endeavors to build sustainable prosperity through extraordinary banking experiences. CBD commits to:

  • Authenticity
  • Simplicity
  • Partnership
  • Innovation
  • Responsibility
  • Excellence