FAB Islamic Home Finance For UAE Residents

FAB
Islamic Home Finance For UAE Residents

Minimum Salary Required AED 15000
Max Loan Amount AED 20,000,000
Fixed Rate 3.94%
Reducing Rate 3.94%
Down Payment Upto 15%
Minimum Salary Required AED
Max Loan Amount AED 20,000,000
Fixed Rate 3.94%
Reducing Rate 3.94%
Down Payment 15%

Top Reasons To Choose

  • Fixed profit rates starting from 3.94% per year
  • Up to 85% financing for first-time buyers
  • No approval-in-principle fee
  • Exclusive deals on processing and discounted valuation fees

Own your own home with FAB Islamic’s range of home finance options and fixed profit rates starting from 3.94% per year. Enjoy a range of great profit rates on FAB Islamic Home Finance with fixed and variable profit rate options, low down payments, high finance amounts and low fees. Fab's home finance advisers will be with you every step of the way to advise on the best home finance for you, and you’ll get great benefits including your choice of a FAB Islamic credit card.

 

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

Eligibility

  • Available for UAE Nationals and residents
  • Minimum age 21 and maximum age 65 for Non UAE nationals and 70 for UAE Nationals or if self-employed
  • Minimum salary of AED 15K for salaried and AED 25K for Self employed

Detailed Features

Enjoy fixed profit rates for up to five years if you have an existing FAB/FAB Islamic credit card or if you apply for an Islamic Credit card:

With a salary transfer to a FAB Islamic savings account and a credit card*
Fixed profit rate period of One and Two years 3.94%, Three years 4.09% and Five years 4.19%
Without a salary transfer to a FAB Islamic savings account**
Fixed profit rate period of One and Two years 4.34%, Three years 4.39% and Five years 4.44%

Other great benefits include:

1. Get market-leading* profit rates when you transfer your salary to a to a FAB Islamic account. You’ll also get to choose an Islamic credit card to complement your financing, if you do not already hold one

2. 60-day grace period before your first instalment or 120-days for home finance transfers

3. Refund of early settlement and valuation fees for home finance transfers

4. Waivers of processing fees for home finance transfers

5. Up to 85% financing for first-time buyers

6. No approval-in-principle fee

7. Up to AED 12,500 in FAB Islamic Rewards when you transfer your salary to a FAB Islamic Savings Account and obtain FAB Islamic Credit Cards (1 AED = 250 FAB Islamic Rewards)

8. Exclusive deals on processing fees and discounted valuation fees on properties with major developers

 Terms and conditions apply.

*Market-leading designation is applicable solely to the one and two year fixed periods, as substantiated by recent market studies, however this designation may no longer reflect current market conditions

**The subsequent profit rate you’ll move to when your current deal ends is three month EIBOR + 1.5% profit margin for customers with a salary transfer to a FAB Islamic savings account and it will not fall below a specified rate of 1.99% over an agreed period of time.

***The subsequent profit rate you’ll move to when your current deal ends is three month EIBOR + 1.89% profit margin for non-salary transfer customers and it will not fall below a specified rate of 1.99% over an agreed period of time.

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