Emirates Islamic Manzili Home Finance

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Emirates Islamic Bank

Manzili Home Finance

Minimum Salary

AED 15K

Flat Rate

2.11%

Reducing Rate

3.65%

Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

25%

Repayments Up To

25 Years

Advantages

  • Can defer installments for 60 days
  • Low takaful rates
  • Pre-approved credit card
Apply Now
minimum salary

AED 15K

Minimum Salary

flat rate

2.11%

Flat Rate

reducing rate

3.65%

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

  • Can defer installments for 60 days
  • Low takaful rates
  • Pre-approved credit card
Apply Now

View details on bank page

Features

  • Follows Islamic banking principles
  • UAE Nationals, Expats, and Non-Residents are eligible
  • Minimum salary of AED 15000 is required
  • Home Finance is provided at a fixed interest rate of 2.11%
  • Home Finance is provided on a reducing interest rate of 3.65%
  • Salary transfer to Emirates Islamic 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

  • Provides finance on low-profit rates
  • Salary transfer is not required
  • Complimentary upgrade to priority banking facility
  • A free credit card is provided on approval
  • Competitive takaful insurance rates
  • Can skip installments payments for 60 days
  • Provides buyout loan facility
  • Quick processing of the loan application
  • Provides finance for residential and commercial properties as well

Frequently Asked Questions

⭐ Are Non-Residents eligible for getting a finance from Emirates Islamic Bank?

A. Yes, Non-Residents with valid documents are eligible for getting a finance from Emirates Islamic Bank.

⭐ Are self-employed individuals eligible for the loan?

A. Yes, self-employed individuals with valid documents are eligible for getting a loan.

⭐ Can I skip any installments?

A. Yes, you can defer maximum 60 days installments.

⭐ Can I transfer my existing mortgage loan to Emirates Islamic Bank?

A. Yes, you can avail buyout loan facility and transfer your existing mortgage loan to Emirates Islamic.

⭐ What are the charges associated with Buyout loans?

A. Emirates Islamic Bank charges 0% processing fees on Buyout loans.

⭐ What is the minimum income required for the self-employed to be eligible?

A. The minimum income required for a self-employed individual is AED 20,000.

⭐ What is the minimum salary required for the Non-Resident to be eligible for the finance?

A. The minimum salary required for the Non-Resident to be eligible for the finance is AED 20,000.

⭐ Can I have a co-applicant for the loan?

A. Yes, you can add a co-applicant for the loan.

⭐ Is it mandatory that all the co-owners should be the co-applicants of the loan?

A. Yes, if you have co-owners for the property then you need to add them as co-applicants of the loan.

⭐ Do Non-Residents need to have a passport?

A. Yes, the passport is a mandatory document for Non-Residents.

⭐ How many months bank statements are required?

A. The loan applicant needs to provide last 12 months bank statements.

Emirates Islamic

In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.

   Get in touch with Emirates Islamic Customer Care

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