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Sharjah Islamic Bank Tamallak Home Finance for Expats (under construction)

Sharjah Islamic Bank Bank

WarningMessage This product is discontinued by the Bank

Tamallak Home Finance for Expats (under construction)

Minimum Salary

AED 25K

Flat Rate

3.31%

Reducing Rate

6%

Loan Amount

AED 5000K

Early Settlement Fee

2%

Arrangement Fee

1%

Down Payment

50%

Repayments Up To

25 Years

minimum salary

AED 25K

Minimum Salary

flat rate

3.31%

Flat Rate

reducing rate

6%

Reducing Rate

max finance

AED 5000K

Loan Amount

early settlement fee

2%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

50%

Down Payment

repayment

25 Years

Repayments Up To

Features

  • Both self-employed and salaried individuals are eligible
  • Provides finance for properties under construction
  • Minimum salary of AED 25000 is required
  • Home Finance is provided at a fixed interest rate of 3.31%
  • Home Finance is provided on a reducing interest rate of 6%
  • Salary transfer is required
  • Maximum loan amount provided is AED 5000000
  • 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
  • 50% of the property value should be paid as the down payment
  • 2% of outstanding loan amount is charged on early settlement

Benefits

  • Low insurance rates
  • Provides insurance on takaful principles
  • Quick processing
  • Less documentation
  • Flexible repayments
  • Can use partial settlement facility
  • Provides finance for under construction properties

Frequently Asked Questions

⭐ How many months bank statements are required?

A.

⭐ Do self-employed individuals need to submit bank statements?

⭐ Can I make partials payments to clear the loan?

A.

⭐ Do I need to pay processing fees?

⭐ Is it mandatory to get insurance?

A.

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

⭐ What is the property insurance fees?

A.

⭐ Do I need to provide the property documents?

⭐ Do I need to provide down payment proof?

A.

⭐ Is it mandatory to provide UAE resident Visa?

Sharjah Islamic

Established in 1975 through an Amiri decree, the bank was initially known as the National Bank of Sharjah. In 2002, the bank was the first bank to convert to Islamic Banking and was renamed as Sharjah Islamic Bank (SIB). SIB has a Vision 'to be the bank of choice, delivering creative customer solutions based on Islamic principles of partnership, trust & equality for all’. The values followed by them are :

  • Bonding and Harmony
  • Compliance
  • Learning and Self Development
  • Social Responsibility
  • Creativity and Innovation

   Get in touch with Sharjah Islamic Bank Customer Care