Home loan

Banks providing favorable home loans: 

1. Abu Dhabi Islamic Bank (ADIB)

ADIB offers a number of home financing products catering to various clients needs. It provides home loan for both UAE nationals and expats at a competitive rate. It’s home financing products include; owner to owner financing, buyout, developer purchase, construction finance, equity release.

Features of ADIB home loans are:

• Interest rate 3.75%
• Flat rate 2.06%
• Repayments up to 25 months
• Arrangement fee 0 

Benefits provided: 

• Salary transfer is optional
• 6 months grace period is provided for salary transfer customers
• Can clear 30% of the outstanding loan amount without any partial settlement fees

2. National Bank of Abu Dhabi (NBAD)

NBAD provides a range of home loans such as NBAD Etihad Guest mortgage loan, Refinance loan, mortgage loan from an individual, mortgage loan from a developer, loan for UAE nationals and expats, etc.

Features of NBAD home loan are:

• Early settlement fee of 1%
• New home fixed rate of interest is 2.94% up to 1 year
• Down payment of 20% 

Benefits provided: 

• Flexible repayment options
• High loan amount
• Free property insurance for the elite gold card holder

3. Commercial Bank International (CBI)

CBI offers home finance/mortgage for all completed residential properties, which are entitled to land and mortgage registration anywhere in the UAE. 

Features of CBI home loan are:

• For new home loans monthly salary required is AED 15,000
• Processing fee 1% of the loan amount 
• Interest rates starting from 2.99% p.a.

Benefits provided: 

• Can clear 40% of the outstanding loan amount without any partial settlement fees
• Free property insurance
• Free CBI Rewards Mastercard Credit Card
• Salary transfer is optional
• No processing fee for buyout loans

4. HSBC Bank

HSBC offers home loans at a starting interest rate of 3.24%. It provides home loan for both UAE nationals and expats. The bank does not charge any processing fee or valuation fee for a buyout.

Features of HSBC home loan are:

• Repayments up to 25 Months
• Early settlement fee 0-1%
• Minimum salary AED 15K-20K

Benefits provided:

• Can clear 25% of the outstanding loan amount without any partial settlement fees
• Salary transfer is not required
• Can get pre-approved in 60 minutes

5. National Bank of Ras Al Khaimah (P.J.S.C) (RAKBANK)

RAKBANK offers flexible and affordable home loans in Abu Dhabi, Dubai, and Ras Al Khaimah. They provide home loans at a competitive rate of 3.25%. Both UAE nationals and expats can avail this loan with a minimum monthly salary of AED 15000 for UAE nationals and AED 20000 for expats.

Features of RAKBANK home loans are:

• Down payment of 20%
• Early settlement fee of 1%
• Repayments up to 25 months

Benefits provided:

• Less documentation
• Quick approvals
• Flexible repayment options

Calculate mortgage payments using Mortgage Calculator Dubai

These are some of the home loans handpicked picked from the lot based on their favorability. Every individual has their own criteria or requirement that needs to be addressed, therefore it is advisable that you compare and check different home loans in UAE before finalizing one.

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• personal loan

Insurance

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Insurance

The number of people in Dubai that have health insurance has increased to 4.7m, from 1.8m in 2013. For the most part, this is down to the introduction of mandatory health insurance.

To date, around 99% of Dubai residents are covered with health insurance. This is compared with less than half in 2013. To combat the small number of people that do not have health insurance, the emirate is working to block visa renewals for those who are uninsured. A major driver of this change is to prevent residents from being faced with medical bills they cannot afford.

Sponsors, whether to an employee or family member, are required to provide at least a basic policy (EBP). Prices for EBP policies range from AED 550 to AED 750 per year. As per the Emirates law, the minimum policy limited for a Dubai visa holder is AED 150,000.

The minimum allowable annual policy limit for a Dubai visa holder under the EBP is AED 150,000. There are programs attainable with coverage up to AED 5m Those who fail to ensure employees or dependents will be fined AED 500 per person, per month, of nonobservance. Dubai Health Insurance Corporation, which is beneath the Dubai Health Authority, is assigned to license and regulate medical insurers.

1. Abu Dhabi Commercial Bank (ADCB)

The first bank on the list provides made-to-measure personal loan packages for both UAE nationals and expatriates residing in Dubai. The personal loan offers at the Abu Dhabi Commercial Bank come with reasonable interest rates, higher salary multiples, and flexible eligibility requirements.

• Longest repayment period
• Easy documentation
• Free credit life insurance
• Free ADCB credit card
• UAE nationals receive up to 3 times salary overdraft while expatriates get up to 2 times

Secure Life is affordable:

• Monthly premiums from as low as AED 20
• Different ‘sum assured’ values to cater to your specific insurance needs and budget
• Flexibility to increase your cover whenever you wish
• Involuntary Loss of Employment (ILOE) cover of AED 6,000 up to 6 months’ period

The Secure Life application process is simple and convenient too:

• Apply online through ADCB Personal Internet Banking by just a click of a button
• Just send an SMS or call our toll free number to apply
• No medical examination required for immediate cover*
• Payment is debited from your ADCB account
• Lump sum payout to your family in the event of your death
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• My prvious blog;

1. personal loan

Personal Loan in UAE NOW

Personal Loans in UAE

Are you in desperate need of cash to meet one commitment or the other? Or looking to get the best education money can buy to secure the future of your children? Whichever the case may be, it’s in your best interest to take a personal loan or mortgage from one of the top financial institutions in Dubai.

The good news is, it’s exceptionally easy to apply for a personal loan in the UAE, and it’s all thanks to today’s advancement in technology and availability of friendly institutions.

In this post, we’re going to explore just about everything you need to know about personal loans in Dubai, and we hope you put the information to good use.

Note: it’s also an excellent idea to make plans to invest your borrowed money so you can get an impressive return when the time is right.

Let’s get started.

• Personal Loan For UAE Nationals

For starters, taking personal loans as a UAE national is a literally a walk in the park. The loans have favorable terms and conditions, and interest rates are also attractive. Moreover, the tenure is pretty convenient to customers, and the eligibility criteria are flexible. It’s also good to know that the documentation process is simple and straightforward.

• Personal Loan for Self-Employed Professionals

Self-employed individuals or those who run their own business may find it a bit difficult to get a personal loan. Why? Well, it’s only because their source of income is not fixed. It’s however good to know that a lot of banks and financial institutes such as Dunia Finance are embracing the idea of giving personal loans to self-employed people — so you can still apply if you’re one

• Personal Loan for Expatriates

Expatriates who arrive the UAE can also request for personal loans to take care of their financial obligations. It’s important to note that the terms and conditions are different from the one offered to Dubai nationals. However, the deals are still attractive, and that’s what matters.

• Personal Loan Without Salary Transfer

It’s important to note that most banks in Dubai require that the customer do a salary transfer to their bank before proceeding. On the flip side, there are quite a few banks in the UAE that actually offer personal loans without demanding a salary transfer.

Things to Know About Personal Loans in Dubai

• Many banks in Dubai provide reducing interest rates which could start from 4.99% or 2.63% flat per annum. It’s Important to note that this depends on the customer’s income as well as the amount they’re looking to borrow.
• Loan amounts are typically based on the applicant’s length of employment and monthly salary
• Loan amount offered to UAE nationals ranges from AED200,000 to AED5 million
• The minimum salary required to be eligible for a private loan in the UAE is AED3,000
• Most banks in Dubai offers repayment period of up to 48 months
• Many banks in the UAE provide personal loan up to 20 times the gross monthly salary of the customer.
  

What Are the Benefits of Personal Loan in the UAE?

• Applicants could receive optional insurance coverage
• Customers can take advantage of the no payment option which applies to the first two months — this is offered by most banks in Dubai.
• Banks in the UAE offers different packages for salaried individuals, non-salaried individuals, Emiratis, and expatriates.
• Some banks in Dubai provide free lifetime credit cards to applicants.
• Most money lenders in the UAE provide Islamic finance to their customers.
• There are also banks in Dubai that offer other value-added banking service coupled with installment deferred option.
• Expatriates are also likely to receive a free debit card from most banks in the UAE.
• Customers can choose to return their loan by using the loan return option — this is offered by some banks in the UAE.
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