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Noor Bank Home Finance - Fixed Rate

Noor Bank Bank

WarningMessage This product is discontinued by the Bank

Home Finance - Fixed Rate

Minimum Salary

AED 10K

Flat Rate

2.18%

Reducing Rate

3.99%

Loan Amount

AED 25000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

25%

Repayments Up To

25 Years

Advantages

  • Follows takaful laws
  • Low insurance rates
  • Salary transfer not mandatory
minimum salary

AED 10K

Minimum Salary

flat rate

2.18%

Flat Rate

reducing rate

3.99%

Reducing Rate

max finance

AED 25000K

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

  • Follows takaful laws
  • Low insurance rates
  • Salary transfer not mandatory

Features

  • Both self-employed and salaried individuals are eligible
  • Minimum salary of AED 10000 is required
  • Home Finance is provided at a fixed interest rate of 2.18%
  • Home Finance is provided on a reducing interest rate of 3.99%
  • Salary transfer is not required
  • Maximum loan amount provided is AED 25000000
  • Life and property insurance 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

  • Both UAE Nationals and Expats are eligible
  • Can get pre-approval details
  • Quick processing
  • A high amount of finance is provided
  • Salary transfer is not required
  • Can start monthly payments after 60 days of the loan approval

Frequently Asked Questions

⭐ What is the minimum monthly income required for the self-employed individuals?

A.Self-employed individuals need to have a minimum monthly income of AED 50,000 per month.

⭐ What is the minimum age required to be eligible for the loan?

A.The loan applicant needs to be of minimum 23 years to be eligible for the loan.

⭐ What is the maximum age for a UAE National to be eligible for the loan?

A.UAE Nationals of more than 70 years are not eligible for the loan.

⭐ What is the maximum age for an Expat to be eligible for the loan?

A.Expats of more than 65 years are not eligible for the loan.

⭐ Can I get pre-approval details of the loan?

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

⭐ Do I need to submit documents to get pre-approval details?

A.Yes, you need to provide identity proofs and income proofs to get pre-approval details.

⭐ How many months bank statements need to be submitted?

A.The loan applicant needs to provide last 6 months bank statements where the salary is getting transferred to.

⭐ Can I skip any payments?

A.Yes, you can skip the first two months payments after the approval of the loan.

⭐ What is the maximum finance provided?

A.75% of the property value is provided as maximum finance for the loan.

Noor

Established in January 2008, Noor Bank (formerly known as Noor Islamic Bank), is a young bank providing a wide range of products and service. With a Mission of ‘wanting to be ranked among the top 100 most-innovative companies in the world’ and a Vision ‘to be recognised as the financial icon of Dubai’, the bank follows these values :

  • Customer Centricity
  • Innovation
  • Determination
  • Integrity
  • Responsibility

They believe that Islamic banking has the flexibility and the openness to enable them to offer a wide range of products and services when approached correctly.

   Get in touch with Noor Bank Customer Care