Top Banks

Abu Dhabi Islamic Bank (ADIB) Home Loans
Commercial Bank Of Dubai (CBD) Home Loans
Emirates Islamic Bank (EIB) Home Loans
Emirates NBD Home Loans
First Abu Dhabi Bank (FAB) Home Loans
RAKBANK Home Loans
Standard Chartered Bank (SCB) Home Loans

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Home Loans in UAE

As most employers are favouring work from home concept which become a norm post-pandemic, there has been consistent demand for good quality accommodation driven by end-users which is also driving the need for suitable mortgage options.

A mortgage loan is a certain amount of money that an individual borrows from a bank or any other financial institution at a definite rate of interest which has to be paid along with EMI. This loan can be taken for buying a new property, upgrading the existing one, or constructing a new one.

If a borrower fails to repay the loan amount, the lender can liquidate the property bought by the borrower through a loan and recover their loan amount.

Points to Remember When You Compare Home Loans in UAE

Home loan in UAE is something that most people search for when they plan on buying any property in UAE. With a lot of leading banks offering home loans, it may be difficult to decide the most suitable mortgage loan option. Hence Soulwallet can assist you with the best home loan in UAE by sharing few points below to remember while you select the home loan:

  • Interest payments - Home loan interest rate are of two types which is the fixed rate and floating rate. A fixed interest rate is set based on the loan tenure whereas the floating rate may vary depending on different factors. So the borrower can decide this basis on the personal budget.
  • Loan tenure - The more years is the loan tenure the less EMI is to be paid by the borrower every month. So if you have a better monthly budget you can go for a short loan tenure and repay the loan amount sooner.
  • Down Payment - When you avail for a home loan you need to pay some % of the total home loan amount as a down payment. So if you have surplus cash you can increase the down payment which would decrease your interest rates in the future.
  • Additional charges - Apart from your monthly EMI, the bank or money lending institution can charge any other fee, so you need to discuss it beforehand to avoid mismanagement of your budget.

Various Types of Home Loans in UAE

  • UAE National Loans - This type of loan is beneficial for the UAE nationals as it comes with various benefits in terms of interest rate, down payment, or other facilities.
  • Home Loans for Expats in the UAE – This type of loans are offered to expats who hold residency in the UAE. If you are a salaried or self-employed person, looking to buy a new home or for a payout on handover; worried about high-interest rates with your existing bank or wish to renovate your home, these loans are what one should opt for.
  • Loans for Non-Listed Companies - Even if you are an employee of a non-listed company, many banks provide home loans with different benefits that you can choose as per your need.
  • Offered for SME - If an SME envies a property in Dubai, they too can get the best offers for home/mortgage loans from the leading banks.

Most of the home loans are generally offered to both off plan and constructed and ready to move properties.

Eligibility Criteria for Personal Loans

An individual is eligible for a home in UAE if the below criteria are fulfilled:

  • Minimum Salary: It should be Starting from AED 10000 which differs from bank to bank.
  • Documents –
    1. You need to have Passport/ Emirates ID / Family Book / Visa
    2. Income Documents – Salary Certificates/ Bank Statement/ Audited financials (for self-employed)
    3. For Home loan – all the related documents to the asset being purchased with the loan amount.

How to Apply for a Home Loan?

Looking for a home/mortgage loan in UAE? Soulwallet.com can be the best option to search for home loans as per your requirements online. The best thing you get is to compare the home loan options by different banks in one place along with the Home loan EMI calculator to make the decision-making process more quick and easy.

Bank Name Product Name Minimum Salary Fixed Rate Reducing Rate Max Loan Amount Down Payment
ADCB Home Saver Loan 15,000 0.0 0.0 24,000,000 20%
ADCB Standard Mortgage Loans 15,000 24,000,000 20%
ADIB Home Loan for UAE Nationals 10,000 2.06 3.75 20,000,000 20
ADIB Home Loan for Expats 15,000 2.06 3.75 15,000,000 25
CBD Mortgage Loan 12,000 1.65 2.99 15,000,000 25
CBI Home Loan for Salaried Individuals 15,000 0.0 3.75 10,000,000 25%
CBI Home Loan for Business Owners - 0.0 0.0 15,000,000 25%
EIB HOME FINANCE - BINA'A 8,000 0.0 0.0 15,000,000 20%
Emirates Islamic Home Finance - Manzili 15,000 1.92 3.49 15,000,000 20
Emirates NBD Home Loan for Expatriates 20,000 2.89 5.25 15,000,000 25
Emirates NBD Commercial Properties Financing 25,000 2.75 4.99 7,000,000 40
Emirates NBD Home Loans for UAE Nationals 10,000 2.89 5.25 15,000,000 20
FAB Home Loan 15,000 2.75 4.99 20,000,000 20
FAB Islamic Home Finance 15,000 2.75 4.99 20,000,000 20
HSBC HSBC New Home Loan 15,000 0.0 3.49 20,000,000 25%
Mashreq Commercial Mortgage Loans for UAE Residents 40,000 0.0 0.0 10,000,000 20
Mashreq Home Loans for Residents 12,000 0.0 0.0 15,000,000 20
NOOR Buy Out Finance 10,000 0.0 0.0 25,000,000
NOOR Ready Property Finance 10,000 0.0 0.0 25,000,000 25%(Expats)/ 20% (UAE Nationals)
RAKBANK Mortgage Home Loan 15,000 0.0 3.24 25
RAKBANK Home In One 15,000 2.69 4.87 25
SIB Real Estate Finance 25,000 0.0 3.31 25%
Standard Chartered Saadiq Home Finance 30,000 1.95 3.53 18,000,000 20
Standard Chartered Mortgage One Account 30,000 1.95 3.53 18,000,000 20
UNB Easy Home Loan 15,000 0.0 0.0 8,000,000 25%

ADCB Home Saver Loan

Eligibility : All UAE residents (UAE Nationals and Expatriates) and non-residents earning sufficient income from either a salary or from running a company (self-employed), are eligible to apply for an ADCB Mortgage (Min AED 75,000 pm average credit turnover for self-employed) The applicant if an UAE resident (Nationals & Expatriates), must be aged 21 and above, and if a Non-resident must be aged 25 and above to be eligible for a mortgage from ADCB.

Processing Fee : 1% of the Loan Amount

Documents Required : Salaried Individuals Identity & Age proof Salary Certificate Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements Self-employed Individuals Identity & Age proof Copy of Trade License Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements The bank may request additional documents from the customer if required.

ADCB Standard Mortgage Loans

Eligibility : All UAE residents (UAE Nationals and Expatriates) and non-residents earning sufficient income from either a salary or from running a company (self-employed), are eligible to apply for an ADCB Mortgage (Min AED 75,000 pm average credit turnover for self-employed)

Processing Fee : 1% of the Loan Amount

Documents Required : Salaried Individuals Identity & Age proof Salary Certificate Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements Self-employed Individuals Identity & Age proof Copy of Trade License Copy of property allotment letter Buyer Agreement 3 to 6 months bank statements The bank may request additional documents from the customer if required.

ADIB Home Loan for UAE Nationals

Eligibility : Minimum 21 Years , Verified employment, UAE Nationals

Processing Fee : 1%

Documents Required : Valid salary certificate, Additional income verification, Passport copy, Khulaset Al Kaid (Family book for UAE Nationals only, Bank Statement

Off Plan Finance : yes

ADIB Home Loan for Expats

Eligibility : Minimum 21 Years, Verified employment, UAE Nationals

Processing Fee : 1%

Documents Required : Valid salary certificate, Additional income verification, Passport copy, Bank Statement

Off Plan Finance : yes

CBD Mortgage Loan

Eligibility : Salaried individual (UAE Nationals and Expatriates) Aged between 21 and 65 years (at loan maturity) Minimum monthly income of AED 12,000 Minimum length of service of 6 months If you are self-employed (UAE Nationals and Expatriates) Aged between 21 and 70 years (at loan maturity) Minimum monthly income of AED 20,000 Minimum length of 3 years in business

Processing Fee : 0% (Limited time offer)

Documents Required : Salaried individual: Application form, consent letter, authorization letter for Bureau check. National ID or valid passport, residence visa and Emirates ID. Original 3 months bank statement for new customers. Salary Certificate Self-employed: Application form, Authorization letter for lending and consent letter for Bureau check, Copy of Trade License, Chamber of Commerce Registration, Memorandum and Articles of Association, Original 12 months company and personal bank statements for new customers. Additional documents may be applicable as per underwriting terms and eligibility criteria

Off Plan Finance : yes

CBI Home Loan for Salaried Individuals

Eligibility : UAE National or Expatriate residing in UAE Age: 21 and above Min Salary of AED 15,000 PM

Processing Fee : -

Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Salary Certificate Salary Transfer Letter (For Salary Transfer Loan applications) Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)

Off Plan Finance : -

CBI Home Loan for Business Owners

Eligibility : UAE National or Expatriate residing in UAE Age: 21 and above

Processing Fee : -

Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Income Documents Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)

Off Plan Finance : -

EIB HOME FINANCE - BINA'A

Eligibility : Salaried or Self-Employed individuals UAE Nationals

Processing Fee : -

Documents Required : Copy of valid passport (original required for verification) Copy of "Khulasat Al Qaid" or National ID (original required for verification) Original Salary Certificate less than 45 days old providing details on length of employment, current designation and salary package OR Salary Transfer Letter in case Salary is transferred to Emirates Islamic containing details on length of service, current designation and salary package.* Last 6 months bank statements reflecting salary credits Liability letter less than 30 days old reflecting borrowings with the bank to which your salary is transferred Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed/Mulkia and Site Plan In case of Sheikh Zayed Housing Program (SZHP) and Mohammad Bin Rashid Housing Establishment (MBRHE) copy of valid facility approval * Please Note: For Government/Semi Government organizations, salary credited to the customer's Emirates Islamic Back Account will be considered as evidence of assignment.

Off Plan Finance : -

Emirates Islamic Home Finance - Manzili

Eligibility : Salaried or Self Employed individual Resident Expatriates, UAE Nationals Age - 21 and above

Processing Fee : 1%

Documents Required : Salaried Residents: Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals, Copy of labour contract, Original Salary Certificate less than 45 days old providing details on the length of employment, current designation, and salary package OR Salary Transfer Letter in case Salary is transferred to Emirates Islamic Last three months’ pay slips (if applicable), Last 6 months bank statements reflecting salary credits, Liability letter less than 30 days old reflecting borrowings with the bank to which your salary is transferred. Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts of down payment made to the seller
Salaried Non-Residents:Copy of valid passport (original required for verification), Original Salary Certificate less than 45 days old providing details on the length of employment, current designation and salary package Last three months’ pay slips (if applicable), Documentation from your bank including Last 6 months bank statements reflecting salary credits,Liability/Reference letter no more than 45 days old Latest tax returns for the previous 2 years (if applicable), Credit Bureau Report (if applicable Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts of down payment made to the seller.
Self-Employed Residents: Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals (original required for verification), Business-related documentation (originals required for verification) Copy of trade license Copy of Chamber of Commerce Registration Copy of Partnership Page in case of multiple partners Copy of Memorandum/Articles of Association, Original Audited Financials for the last 2 years Copy of Labour Contract Last 12 months Business Account Statements (6 months is acceptable but not preferred), Last 6 months Personal Account Statements, Originals of property details including the Quote/Offer Letter from the seller, Sale and Purchase agreement, Title Deed and Site Plan Receipts of down payment made to the seller

Off Plan Finance : yes

Emirates NBD Home Loan for Expatriates

Eligibility : Salaried or Self-Employed individual Resident Expatriates

Processing Fee : 1%

Documents Required : Identification Documents: Original Emirates ID and Emirates ID copy, Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) Income Documents: Salaried Individual Latest Salary certificate addressed to Emirates NBD, Latest Pay slips (in case of more than 10% variance in Salary), Previous employment proof if less than 3 years, Latest 6 Months Bank statement Self-Employed: Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments, Latest 6 Months Bank statement, Latest 2 years audited financial

Off Plan Finance : yes

Emirates NBD Commercial Properties Financing

Eligibility : Self Employed individuals UAE Nationals or Resident Expatriates

Processing Fee : 1%

Documents Required : Identification: Original Emirates ID and Emirates ID copy Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) ; Income: Salaried Individual Latest Salary certificate addressed to Emirates NBD Latest Pay slips (in case of more than 10% variance in Salary) Previous employment proof if less than 3 years Latest 6 Months Bank statement ; Self-Employed Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments Latest 6 Months Bank statement and Latest 2 years audited financial

Off Plan Finance : yes

Emirates NBD Home Loans for UAE Nationals

Eligibility : Salaried or Self-Employed individual Resident Expatriates

Processing Fee : 1%

Documents Required : Identification: Original Emirates ID and Emirates ID copy Valid Passport Copy with valid Resident Visa page (Old Passport copy if Visa is stamped on old Passport) ; Income Documents: Salaried Individual Latest Salary certificate addressed to Emirates NBD Latest Pay slips (in case of more than 10% variance in Salary) Previous employment proof if less than 3 years Latest 6 Months Bank statement ; Self-Employed Valid Trade License copy Plus MOA (Memorandum of Association) including all amendments Latest 6 Months Bank statement Latest 2 years audited financial

Off Plan Finance : yes

FAB Home Loan

Eligibility : Available for UAE Nationals and residents Minimum age 21 and maximum age 70 for UAE Nationals and 65 for non UAE Nationals or 70 years if self-employed

Processing Fee : -

Documents Required : Completed & signed home finance application form Valid Emirates ID, passport & valid residence Visa for non UAE Nationals Property documents Income documents Any other documents deemed necessary

Off Plan Finance : yes

FAB Islamic Home Finance

Eligibility : Available for UAE Nationals and residents Minimum age 21 and maximum age 70 for UAE Nationals and 65 for non UAE Nationals or 70 years if self-employed

Processing Fee : 0.50%

Documents Required : Completed & signed home finance application form Valid Emirates ID, passport & valid residence Visa for non UAE Nationals Property documents Income documents Any other documents deemed necessary

Off Plan Finance : yes

HSBC New Home Loan

Eligibility : Aged 21 to 65 years 65 for salaried and 70 for self–employed/UAE Nationals Minimum income of AED15,000 per month Salaried or Self-Employed Customers residing outside the UAE applying for a mortgage will only be considered if they are Premier customers and meet the HSBC lending criteria

Processing Fee : -

Documents Required : Passport & Visa copy Emirates ID Card copy Last 6 months personal bank statement Employment letter Last Salary slip / Employer Letter Property ownership documents Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)

Off Plan Finance : -

Mashreq Commercial Mortgage Loans for UAE Residents

Eligibility : Salaried or Self Employed individuals UAE Nationals or Resident Expatriates Minimum monthly income of AED 50,000/- for Salaried Individuals & AED 40,000/- for Self Employed Individuals

Processing Fee : -

Documents Required : Application Form Valid Passport & Visa copy Salary certificate (Previous employment certificate if less than a year) Bank statements – 6 months Liability letter (if any) Property documents – Title Deed Self Employed Application Form Valid Passport & Visa copy Trade License Copy of Chamber of Commerce Registration Memorandum & Articles of Association Financial statements audited of last two years Profile of the business on company letter head Bank statements – Company & Personal for 6 months Liability letter (if any) Property documents – Title Deed

Off Plan Finance : -

Mashreq Home Loans for Residents

Eligibility : Salaried or Self Employed individuals UAE Nationals or Resident Expatriates Minimum monthly income of AED 15,000/-

Processing Fee : -

Documents Required : Salaried Application Form Valid Passport & Visa copy Salary certificate (Previous employment certificate if less than a year) Bank statements – 6 months Liability letter (if any) Property documents – Sale Agreement Proof of down payments Self employed Application Form Valid Passport & Visa copy Trade License Copy of Chamber of Commerce Registration Memorandum & Articles of Association Financial statements audited of last two years Profile of the business on company letter head Bank statements – Company & Personal for 6 months Liability letter (if any) Property documents – Sale Agreement Proof of down payments Letter indicating intent for use of property for rental or Investment purpose as per banks format

Off Plan Finance : -

NOOR Buy Out Finance

Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Non-residents : Residents of GCC countries, a wide range of G20 countries, Pakistan and Singapore. Salaried: Minimum Salary requirement of AED 10,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month. Minimum Age for all primary applicants is 23 years UAE Nationals: Maximum Age at maturity for 70 years Expatriates: Maximum Age at maturity for Salaried is 65 years, and Self employed is 70 years

Processing Fee : -

Documents Required : Documents Required for Initial Approval (Pre-approval) All Identification documents Income documents: Salaried Customers Original Salary Certificate Original/Copy of Payslips (if required) Last 3-6 months Personal Bank statements, depending on employer profile Self-employed customers Copy of Valid Trade License Last 3 months Personal Bank statements Last 6 months/ 12 months Company Bank statements Copy of 2 years audited financials. Documents Required for Final Approval Original and Valid Liability Letter Copy of Title Deed or Sale Purchase Agreement Copy of MOU in case of property resale transaction Copy of POA (if any), dated not older than 2 years from date of application Note: Additional documentation may be requested for on a case to case basis

Off Plan Finance : -

NOOR Ready Property Finance

Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Non-residents : Residents of GCC countries, a wide range of G20 countries, Pakistan and Singapore. Salaried: Minimum Salary requirement of AED 10,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years UAE Nationals: Maximum Age at maturity for 70 years Expatriates: Maximum Age at maturity for Salaried is 65 years, and Self employed is 70 years

Processing Fee : -

Documents Required : All Identification documents Income documents: Salaried Customers Original Salary Certificate Original/Copy of Payslips (if required) Last 3-6 months Personal Bank Statements, depending on employer profile Self-Employed Customers Copy of Valid Trade Licensee Last 3 months Personal Bank Statements Last 6 months/ 12 months Company Bank Statements Copy of 2 years audited financials Documents Required for Final Approval Copy of Title Deed or Sale Purchase Agreement Copy of Down Payment Receipts Copy of MOU in case of property resale transaction Copy of POA (if any), dated not older than 2 years from date of application Note: Additional documentation may be requested by the Bank on a case to case basis

Off Plan Finance : -

RAKBANK Mortgage Home Loan

Eligibility : UAE nationals and all expatriate nationalities Salaried - Minimum Salary requirement of AED 15,000 per month, no salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years

Processing Fee : 1% of the approved loan amounts

Documents Required : Identification Documents : Passport Labour Card (if applicable) Khulasat Qaid (if applicable) Financial Documents
Salaried customers : Current dated salary certificate addressed to RAKBANK (stating designation, length of employment, detailed breakdown of salary) Other income documents e.g. tenancy contracts and title documents for rental properties Salary bank account statements (reflecting last 6 salary credits in the account) Other income account statements (last 6 months)
Self-employed customers : Audited financial statements (last 2 years) Other income documents e.g. tenancy contracts and title documents for rental properties Personal bank account statements (last 6 months) Corporate bank account statements (last 6 months) If un-audited financial statements - 12 months bank statements for both company and Personal accounts
Legal Documents (Self-employed customers only) : Copy of Trade License (at least one year LOB) Copy of Chamber of Commerce Registration Copy of Memorandum and Articles of Association Copy of Certificate of Incorporation, Register of Shares and Power of Attorney (applicable for off-shore companies)
Property Documents : Copy of Sale/Purchase Agreement Receipts of customer contribution and bank account statements validating this payment
Other Documents : Cheque for loan processing fee/valuation fees

Off Plan Finance : yes

RAKBANK Home In One

Eligibility : UAE Residents: UAE nationals and all expatriate nationalities Salaried: Minimum Salary requirement of AED 15,000 per month, No salary transfer required For Self-employed: Average Credits of AED 50,000 per month Minimum Age for all primary applicants is 23 years

Processing Fee : 0.25% for Salaried customers and 0.50% for Self Employed customers

Documents Required : Identification Documents : Passport Labour Card (if applicable) Khulasat Qaid (if applicable)
Salaried customers : Current dated salary certificate addressed to RAKBANK (stating designation, length of employment, detailed breakdown of salary) Other income documents e.g. tenancy contracts and title documents for rental properties Salary bank account statements (reflecting last 6 salary credits in the account) Other income account statements (last 6 months)
Self-employed customers : Audited financial statements (last 2 years) Other income documents e.g. tenancy contracts and title documents for rental properties Personal bank account statements (last 6 months)Corporate bank account statements (last 6 months) If un-audited financial statements - 12 months bank statements for both company and Personal accounts
Legal Documents (Self-employed customers only) : Copy of Trade License (at least one year LOB) Copy of Chamber of Commerce Registration Copy of Memorandum and Articles of Association Copy of Certificate of Incorporation, Register of Shares and Power of Attorney (applicable for off-shore companies)
Property & other documents : Copy of Sale/Purchase Agreement Receipts of customer contribution and bank account statements validating this payment Cheque for loan processing fee/valuation fees

Off Plan Finance : yes

SIB Real Estate Finance

Eligibility : UAE National or Expatriate residing in UAE Age : 21 and above

Processing Fee :

Documents Required : Original passport & UAE National ID Valid UAE residence visa for expatriates Six months bank statement Salary Transfer Letter Valuation Certificate The property documents (Site Plan, Map & Title of Deed, etc...) Life & Permanent Disability Takaful Insurance Property Insurance Joint Deals Geographic Scope (Freehold – Leasehold) Original of (Trade License – Chamber of Commerce Certificate – Memorandum of Association)

Off Plan Finance :

Standard Chartered Saadiq Home Finance

Eligibility : Salaried individuals UAE Nationals or Resident Expatriates Age : 21 and above

Processing Fee : 1%

Documents Required : Passport & Visa copy
Emirates ID Card copy
Last 6 months personal bank statement
Employment letter
Last Salary slip / Employer Letter
Property ownership documents
Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)

Off Plan Finance : yes

Standard Chartered MortgageOne Account

Eligibility : Salaried individuals UAE Nationals or Resident Expatriates Age : 21 and above

Processing Fee : 1%

Documents Required : Passport & Visa copy
Emirates ID Card copy
Last 6 months personal bank statement
Employment letter
Last Salary slip / Employer Letter
Property ownership documents
Proof of Customer’s contribution towards payment of property/ Equity payment (where applicable)

Off Plan Finance : yes

UNB Easy Home Loan

Eligibility : A UAE National, resident expatriate, or non-residents Employed (earning at least AED 15,000 per month and at current employer for at least 6 months) or self-employed (earning at least AED 20,000 per month and able to show audited finances for the past 2 years) Between 25 and 65 years of age for salaried expats, or up to 70 years of age for all other applicants

Processing Fee :

Documents Required : Valid passport for UAE Nationals Valid passport and UAE residence Visa for Expatriates. Valid Emirates ID Income Documents Last three month’s bank statements Liability or clearance letter (when switching loan from another lender)

Off Plan Finance :

FAQs

Money borrowed from a bank towards the purchase of real estate (Land/ House/Flat) is termed as Home Loan. The purchased real estate acts as the collateral security for this loan. Home loans are payable between the period of 10 to 25 years.
There are multiple banks offering the Personal Lona facility in UAE. The basic requirements are regular income and resident visa (banks of course require more details to approve the loan). You can explore the SoulWallet’s Home Loans page to search for the banks which potentially can help you with your need.
Primarily there are three types of documents required by the banks for any loans i. Identity Documents – Passport/ Emirates ID/ Visa / Family Book for UAE Nationalsii. Income Documents – Salary Certificates/ Bank Statement/ Audited financials (for self-employed) iii. If the loan is An Auto or Home loan – all the related documents to the asset being purchased with the loan amount.
Each bank and type of loan will have different charges on availing the loan, but processing fee is payable across. Periodically banks come out with offers of waiver on these fees as a special promotion and you should keep a check on the SoulWallet loans paged to see these.
Yes, most banks will give you the option of paying back your loan earlier subject to applicable fee and terms agreed at the time of availing the loan. This is called “Early Settlement”.