Use the following options to filter the loans


Filter Options

Search Banks

Interest Rate


Minimum Salary


Loan Amount

AED 0 AED 10000000

Down Payment

0 Percent 30 Percent

Repayments Up To

0 Months 60 Months

Other Filters

Home Loan in UAE

MyMoneySouq Page Rating

6 People rated this page

Home Loans Interest Rates in
UAE

Minimum Salary

Interest Rate

Loan Amount

Reducing Rate

Select Bank

Min Salary

Interest/Profit Rate

Other Filters

CLEAR

Flat Rate

1.92%

Minimum Salary

AED 15K

Reducing Rate

3.49%

Max Loan Amount

AED 18000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • Free debit card
  • Free cheque book
  • Avail pre approval on low charges

Features

  • A single account is provided for the mortgage payments that can be used as a current account
  • The interest rate will not be constant. It will be reduced depending on the monthly deposits
  • Both UAE Nationals and Expats can avail Home in One loan
Apply Now

Features

  • A single account is provided for the mortgage payments that can be used as a current account
  • The interest rate will not be constant. It will be reduced depending on the monthly deposits
  • Both UAE Nationals and Expats can avail Home in One loan
  • Quick and hassle-free documentation
  • Minimum salary of AED 15000 is required
  • Fixed rate of 1.92% is charged for the Home in One loan
  • The loan is provided for an interest rate of 3.49% on reducing rate basis
  • Salary transfer is not mandatory
  • Finance is provided on the maximum tenure of 25 years
  • Processing fees of 1% are applicable
  • Maximum finance of AED 18000000 is provided bbhh
  • For Expats down payment of 25% is required and for UAE Nationals down payment of 20% is required
  • 1% of the loan amount is charged as early settlement fees
  • Interest rates are based on EIBOR

Benefits

  • Maintain a single account for current account and mortgage payments
  • Make higher monthly deposits to reduce interest rates and loan tenure
  • Can get approval in-principle details without any additional charges
  • Get a free debit card and checkbook to access the current account
  • Can use Home in One loan to buy out the existing loan at other banks
  • Joint account holders can avail Home in One loan
  • Avail Internet and Mobile banking facilities to check payments flow

View details on bank page

Flat Rate

2.2%

Minimum Salary

AED 10K

Reducing Rate

3.99%

Max Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • Get pre-approved facility
  • Low insurance charges
  • High finance

Features

  • Home Finance is provided at a fixed interest rate of 2.2%
  • Minimum salary of AED 10000 is required
  • Home Finance is provided on a reducing interest rate of 3.99%
Apply Now

Features

  • Approval In principle is provided
  • Minimum salary of AED 10000 is required
  • Home Finance is provided at a fixed interest rate of 2.2%
  • Home Finance is provided on a reducing interest rate of 3.99%
  • Salary transfer to Emirates NBD account is not required
  • The loan is provided for a maximum tenure of 25 years
  • Both life insurance and property insurance is mandatory
  • 1% of the total loan amount is charged as processing fees
  • Maximum loan amount provided is AED 15000000
  • 20% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • High finance is provided
  • Low down payment requirement
  • Low rates on property insurance and life insurance
  • Can know the approved loan amount in prior
  • Salary transfer is not mandatory
  • Hassle free documentation

View details on bank page

Flat Rate

2.2%

Minimum Salary

AED 20K

Reducing Rate

3.99%

Max Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

Benefits

  • High finance is provided
  • Self-employed individuals are eligible
  • Low down payment requirement
Apply Now
  • Minimum salary of AED 20000 is required
  • Home Finance is provided at a fixed interest rate of 2.2%
  • Home Finance is provided on a reducing interest rate of 3.99%
  • You are required to transfer your income to Emirates NBD for this finance.
  • The loan is provided for a maximum tenure of 25 years
  • Both life insurance and property insurance is mandatory
  • 1% of the total loan amount is charged as processing fees
  • Maximum loan amount provided is AED 15000000
  • 20% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • High finance is provided
  • Self-employed individuals are eligible
  • Low down payment requirement
  • Low rates on property insurance and life insurance
  • Can know the approved loan amount details in prior
  • Very quick loan approval

View details on bank page

Flat Rate

2.2%

Minimum Salary

AED 20K

Reducing Rate

3.99%

Max Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1%

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
Apply Now

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

View details on bank page

Flat Rate

2.2%

Minimum Salary

AED 10K

Reducing Rate

3.99%

Early Settlement Fee

2%

Arrangement Fee

1%

Advantages

  • One payment holiday every year
  • Salary transfer not required
  • Quick approval

Features

  • Home Finance is provided at a fixed interest rate of 2.2%
  • Minimum salary of AED 10000 is required
  • Home Finance is provided on a reducing interest rate of 3.99%
Apply Now

Features

  • Maximum finance provided depends on your financial status
  • Only UAE Nationals are eligible
  • Minimum salary of AED 10000 is required
  • Home Finance is provided at a fixed interest rate of 2.2%
  • Home Finance is provided on a reducing interest rate of 3.99%
  • Salary transfer is not required
  • Both life insurance and property insurance is compulsory
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 20% of the property value should be paid as the down payment
  • 2% of outstanding loan amount is charged on early settlement

Benefits

  • Provides high finance amount
  • Customised solutions are provided to the customers
  • Hassle free documentation
  • Quick approval
  • Salary transfer is not required

View details on bank page

Flat Rate

4%

Minimum Salary

AED 15K

Reducing Rate

7.25%

Max Loan Amount

AED 10000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • Salary transfer is not mandatory
  • Get pre approval
  • Can avail buyout facility

Features

  • Home Finance is provided at a fixed interest rate of 4%
  • Minimum salary of AED 15000 is required
  • Home Finance is provided on a reducing interest rate of 7.25%
Apply Now

Features

  • Follows Islamic banking principles
  • Minimum salary of AED 15000 is required
  • Home Finance is provided at a fixed interest rate of 4%
  • Home Finance is provided on a reducing interest rate of 7.25%
  • Salary transfer is optional
  • Maximum loan amount provided is AED 250,000
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 20% of the property value should be paid as the down payment
  • Provides loan for both commercial and residential properties 1% of outstanding loan amount is charged on early settlement

Benefits

  • Follows Islamic banking laws
  • No salary transfer is required
  • Low-profit rates
  • Can get pre-approval details
  • Provides loan for commercial properties also
  • Buyout loan facility is available
  • Quick and hassle free documentation

View details on bank page

Flat Rate

2.2%

Minimum Salary

AED 20K

Reducing Rate

3.99%

Max Loan Amount

AED 10000K

Early Settlement Fee

1%

Arrangement Fee

1%

Features

  • Ready Villas or apartments registrable with Lands department
  • Age limit to apply for the loan for UAE Nationals between 21 and 65 years of age (at the time of loan maturity) and for Expats between 21 and 60 years of age (at the time of loan maturity)
  • For the salaried individual minimum length of service of 6 months is required and for the self-employed individual Minimum length of 3 years in business
Apply Now

Features

  • Ready Villas or apartments registrable with Lands department
  • Age limit to apply for the loan for UAE Nationals between 21 and 65 years of age (at the time of loan maturity) and for Expats between 21 and 60 years of age (at the time of loan maturity)
  • For the salaried individual minimum length of service of 6 months is required and for the self-employed individual Minimum length 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
  • The mortgage loan is provided at an interest rate of 3.99%
  • The reduction rate is 3.99%
  • It is not mandatory to transfer your salary
  • It is mandatory to have Life and Property Insurance before applying for this finance
  • Finance up to AED 10,000,000
  • Required to put 25% down payment for this finance
  • The early settlement fee is 1% of the outstanding amount to date
  • 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.

Benefits

  • Loan available to both salaried and self-employed individuals
  • Finance for ready villas and apartments
  • Finance repayment period of up to 20 years for expats
  • Deferment facility - Max 2 times a year without any additional profit
  • Competitive profit rates
  • 0% processing fees on buyouts
  • Release cash against your fully paid property.

View details on bank page

Flat Rate

2.48%

Minimum Salary

AED 20K

Reducing Rate

4.5%

Early Settlement Fee

1%

Arrangement Fee

1.25%

Advantages

  • One payment holiday per year
  • Quick approval
  • Hassle free documentation

Features

  • Home Finance is provided at a fixed interest rate of 2.48%
  • Minimum salary of AED 20000 is required
  • Home Finance is provided on a reducing interest rate of 4.5%
Apply Now

Features

  • Only UAE Nationals are eligible
  • For purchasing properties in Abu Dhabi only
  • Minimum salary of AED 20000 is required
  • Home Finance is provided at a fixed interest rate of 2.48%
  • Home Finance is provided on a reducing interest rate of 4.5%
  • Salary transfer is not required
  • Maximum loan amount provided depends on your financial condition
  • Property and Life insurance is mandatory
  • 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
  • 2% of outstanding loan amount is charged on early settlement

Benefits

  • Hassle free documentation
  • Easy approval of the loan
  • Salary transfer is not required
  • A high amount of finance is provided
  • Both self-employed and salaried individuals are eligible for the finance

View details on bank page

Flat Rate

1.93%

Minimum Salary

AED 15K

Reducing Rate

3.5%

Max Loan Amount

AED 10000K

Early Settlement Fee

1%

Arrangement Fee

0%

Features

  • Home Finance is provided at a fixed interest rate of 1.93%
  • Minimum salary of AED 15000 is required
  • Home Finance is provided on a reducing interest rate of 3.5%
Apply Now

Features

  • Both self-employed and salaried individuals are eligible
  • Provides finance for completed properties
  • Minimum salary of AED 15000 is required
  • Home Finance is provided at a fixed interest rate of 1.93%
  • Home Finance is provided on a reducing interest rate of 3.5%
  • Salary transfer is not required
  • Maximum loan amount provided is AED 10000000
  • Life and property insurance is required
  • 0% processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 20% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Can transfer existing mortgage loan from another bank
  • No processing fees
  • Can avail partial settlement option
  • No property insurance charges
  • Provides life and property insurance on Islamic laws
  • Low-profit rates
  • A high amount of finance is provided
  • Salary transfer is optional
  • Quick processing of loan

View details on bank page

Flat Rate

3.85%

Minimum Salary

AED 15K

Reducing Rate

6.99%

Max Loan Amount

AED 5500K

Early Settlement Fee

2%

Arrangement Fee

1%

Advantages

  • Property insurance is not mandatory
  • Salary transfer is not compulsory
  • Free credit card

Features

  • Home Finance is provided at a fixed interest rate of 3.85%
  • Minimum salary of AED 15000 is required
  • Home Finance is provided on a reducing interest rate of 6.99%
Apply Now

Features

  • Expats from Jordan, Palestine, and Lebanon are eligible
  • Minimum salary of AED 15000 is required
  • Home Finance is provided at a fixed interest rate of 3.85%
  • Home Finance is provided on a reducing interest rate of 6.99%
  • Salary transfer to Arab Bank account is not required
  • Maximum loan amount provided is USD 500,000
  • Getting your property insured is not mandatory
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 20 years
  • 25% of the property value should be paid as the down payment
  • 2% of outstanding loan amount is charged on early settlement

Benefits

  • Provides good customer assistance
  • Salary transfer is optional
  • Provides finance to purchase a property in Jordan, Palestine, and Lebanon
  • Complimentary Credit Card is provided
  • Quick processing
  • Competitive insurance rates

View details on bank page

What is a Home Loan?

Buying a home is arguably the biggest financial decision in our lives. With ever-increasing real estate prices, it is extremely difficult to purchase a house without seeking financial assistance. Such loans offered by banks or financial organizations to individuals are called ‘Home Loans’. The house is held as a mortgage as security till the loan is repaid. The lending institutions hold the right to claim the mortgaged property in case the borrower fails to repay the loan.

Different types of Home Loans

Home Loans are categorized based on how interest is charged. The two types of Home Loans in UAE are:

  • Floating-rate Home Loans: The interest payable on the Home Loan can change based on certain parameters (ideally EIBOR). These are also called Variable-rate Home Loans.
  • Fixed-rate Home Loans: The interest payable on the Home Loan is fixed for the entire tenure of the loan.

You must talk to the loan advisor before deciding on which type of loans would best suit your needs.

Features of a Home Loan

UAE has seen a surge in home loans in recent times. The banks and financial organizations have become more sensitive to every individual’s need of buying a house and are offering easy and attractive schemes. Some salient features of Home Loans in UAE are:

  • Both UAE and Non-UAE Nationals can get a home loan.
  • Long repayment tenures of up to 25 years.
  • Quick processing and easy documentation.
  • Loans available for residential and commercial properties.
  • Highly competitive interest rates.
  • Flexible repayment options.
  • Affordable processing fees.
  • UAE Nationals can avail of complete Home-finance Solutions.
  • Attractive schemes for expatriates.
  • Co-applications allowed.

Benefits of Home Loan

A Home Loan is the best way to fulfill your dream of owning a house. A house provides a sense of stability and security and is a great investment option too. Some advantages of availing a home loan in the UAE are as follows:

  • Avail free valuation and insurance of the house.
  • Most banks offer free credit cards valid for life.
  • In times of exigencies, you can avail financing of up to 80% of the market value of your property.

Eligibility for Home Loan in UAE

Every bank has its own eligibility criteria which need to be checked individually. However, some basic requirements are as follows:

  • You must be at least 21 years of age when you apply and maximum 65 years of age on the maturity of the loan.
  • Loans are available for both salaried and self-employed individuals.
  • Minimum salary must be around AED 10,000 (again each bank has its own minimum requirement)

Documents required for Home Loan in UAE

As is the case with eligibility, every bank can have its own requirement of documents to process your loan application. Some basic documents needed are:

Salaried Individuals:

  • Passport copy with valid visa
  • Emirates ID Card (Not Required for Non-Resident)
  • Salary Certificate
  • Last six months original bank statements
  • Title Deed Copy
  • MOU Copy
  • Seller Passport Copy

Self-employed Individuals:

  • Passport copy with valid visa
  • Emirates ID Card (Not Required for Non-Resident)
  • Last six months bank statements both personal and company
  • Memorandum and articles of association
  • Audited financial statements of last 2 years
  • Board resolution copy
  • Trade license copy
  • Business profile on company letterhead

If you already have an account with the bank, then the number of documents needed might reduce. Please ensure that you understand this list and arrange all the documents before submitting your application to avoid chances of loan rejection.

Home Loan Charges

There are different kinds of fees and charges associated with home loans, and they can vary with each bank.

  • Processing fee – 0% to 1% of the approved loan amount
  • Pre-Approval fee – 0% to AED 1,000
  • Property valuation fee – AED 0 to 5,000
  • Prepayment fee – 1% of the outstanding amount or AED 10,000, whichever is higher. No pre-payment fee after one year.
  • Buyout fee - 1% of the outstanding amount or AED 10,000, whichever is lower.

Again, it is important to note that these rates can vary and change from time to time. Please check with your loan provider before you apply for the loan.

Use our UAE Mortgage Calculator to Calculate your Mortgage Loan Installments.

Home Loan Checklist

Considering the sheer magnitude of the money involved in buying a house, you must plan yourself well to ensure that you don’t make hasty decisions. With Home Loans being easily available, it is possible that you get pulled into buying a house even when you are not ready for it financially. Here is a checklist to help you make the right decision.

  • Research well: In the market with a plethora of options, it is easy to select a product or a service only because it sounds good at that moment. Hence, researching well before approaching a lending institution and being clear about your objectives can help you choose wisely.
  • Estimate your requirement with a buffer: Buying a house does not merely mean paying for the value of the property. There are many more costs involved which need to be carefully considered before you zero down on the amount of loan you require to fulfill this dream. Try to factor in the smallest cost associated with buying the property and allow yourself a small buffer before finalizing the figure.
  • Don’t bite more than you can chew: A home loan is a companion for life. While a tenure of 20/25 years can help bring down the installment amount, it increases the number of years for which you need to keep paying. Ensure that you don’t stretch your limits too far.
  • Down Payment: All institutions have different criteria for down payment. A higher down payment will reduce your loan liability considerably while a lower down payment will give you more funds at hand to work with. Think Well.
  • Fixed-rate or Floating-rate: Don’t try to do these calculations yourself. Ask the concerned official to give you a list of installments payable if you choose either options. Then sit down with an advisor and make a decision that suits your financial standing.

You can always opt for a house that is within your budget than trying to stretch your finances too far. Remember, there is a thin line between courage and foolishness; don’t find yourself on the other side of the line.

Home Loans offered by majority banks

While Home loans are offered by majority banks in the UAE, there are some banks which offer it as a priority product. They are:

  • Abu Dhabi Commercial Bank
  • Abu Dhabi Islamic Bank
  • Dubai Islamic Bank
  • Emirates NBD
  • HSBC Middle East Ltd.
  • Mashreq Bank
  • National Bank of Abu Dhabi

Frequently Asked Questions

⭐ How do I apply for a Home Loan?

A. A Home loan can be applied for by personally walking into a branch and asking for an application form or downloading the form from the bank’s website. The completed and duly signed application form then needs to be submitted to the bank along with the required documents and a processing fee.

⭐ Tax Benefits of taking a Home loan?

A. There are tax benefits to be availed of on both the principal and interest components of the home loan. These laws change yearly. Hence it is advisable to consult a tax advisor to understand it in detail.

⭐ Is there a separate Home Improvement Loan?

A. No. You can use the amount from a home loan to make home improvements or home extensions. Be clear about your plans at the time of application.

⭐ What is a down payment on a Home Loan?

A. Before sanctioning a loan, the bank does a survey of the property that you are interested in buying. Based on preset parameters, they offer home loans up to 80-85% of the property value. You are expected to pay the balance amount which is also known as down payment. Bank’s do not finance 100% of the property value under any circumstance.

⭐ Is taking an insurance on my Home Loan mandatory?

A. Yes. It is mandatory to take an insurance when you apply for a home loan.

⭐ I am an expatriate. Is it advisable for me to take a Home loan?

A. Due to the high number of expatriate population in UAE, many banks offer special schemes on home loans for expatriates. Ensure that you research and compare the options available before zeroing in on the bank.

⭐ Can I sell the house before the Home Loan is paid off?

A. Most banks will require you to repay the complete outstanding of your home loan (principal + interest) up to the time of sale. Once the loan is cleared, they will release the security on the property.

Latest Update on Home Loan in UAE

Abu Dhabi home finance
Abu Dhabi government, as a part of providing a good life to its residents, planned to distribute home loans of Dh 7.5 billion among them. Also, no interest loans are issued to the Emirates of Abu Dhabi for expansion, construction as well as remodeling of their homes. Abu Dhabi government also declared to allot land to its citizens for building their homes and for people who earn a low income, the government provides land with already built houses. A loan from Dh 500,000 to Dh 2 million is provided to the customers who wish to build their houses on the granted plot.
HSBC home loans
HSBC introduced home loans in Abu Dhabi due to profound demand of the customers towards home loans. Home buyers who pay keen interest in acquiring home loans can get them with HSBC. HSBC joined hands with Allsopp and Allsopp Mortgage services, Home Matters and Lion Mortgage services to expand its Mortgage services. Home finance from 80% of the property value is available for UAE Nationals and 75% for expats.
Emirates Development Bank home finance
Emirates Development Bank announced that its home finance portfolio can reach Dh 1.25 billion by the end of 2018 for UAE Nationals. Al Tayer, chairman of EDB board of directors said that the bank's portfolio of home finance of UAE Nationals has already reached Dh 938 million. This home finance has its own advantages of providing credit flexibility, top up loans thereby providing financial security to the UAE residents. 841 additional financial loans are provided to the UAE Nationals who got assistance from government authorities.

Ask questions and share your comments

We encourage our users to have discussion on questions they might have on financial products and help other users by sharing their insights. Kindly help us in making this site useful. We don't encourage any spam posts here. This is a public forum, so we request you to be safe by not disclosing personal information such as bank account or phone numbers etc. Please follow our posting guidelines. All the comments posted under MyMoneySouq official account are not reviewed by the financial institutions.

Show/Post Comments