• ADIB Home Loan with 7 Home Finance Schemes

    ADIB

    Move Into Your Dream Home with ADIB Home Loan

    Moving into the house of your dreams has become easier now. From constructing your own house to making it easy for non-UAE residents to buy property in UAE to unlocking the value of the property that you already own


    You’re probably eligible for ADIB Home Loan if you are

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    ADIB Home Loan Minimum Age

    At least 21 Years old

     ADIB Home Loan Maximum Age

    65 years

    ADIB Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    ADIB Home Loan Minimum Income

    Earn more than the minimum income required


    Your ADIB Home Loan amount eligibility is based on these factors

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    ADIB Home Loan Minimum Salary

    AED 10,000

    ADIB Home Loan Maximum Loan to property value

    Loan capped is AED 20 million

    ADIB Home Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible ADIB Home Loan amount by these steps

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    ADIB Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant, and her income will add to your eligibility

    ADIB Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    ADIB Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for ADIB Home Loan

    • 1. Valid salary certificate
    • 2. Additional income verification
    • 3. Passport copy

    ADIB Home Loan Interest RatesUpdated on 04 Dec 2016

    ADIB Home Loan Details
    Interest Rate (Monthly reducing balance) No Info
    Processing Fees No Info
    Loan Tenure 25 Years

    Abu Dhabi Islamic Bank provides 7 services to help finance homes. They are as follows:

    1. Buying a home from someone

    2. The easy owner to owner transactions can be made in order to buy the property that you have set your eyes on. The benefits are as follows:
      • Salaried customers-
        • Can avail the optional fixed pricing rate at 2.99% p.a. for 2 years.
        • Get an optional grace period of 6 months.
        • Up to 80% of the property value is financed.
        • Get upgraded to ADIB Priority Status, automatically.
      • ADIB gives insurance for the full tenure.
      • No fee needs to be paid for the early settlement.
      • Can get free partial settlement for the outstanding 30%, annually.
      • Optional salary transfer benefit.
      • Even the self- employed customers can benefit from this.
      • UAE nationals get financing up to AED 20 million and AED 10 million for the expats.
      You need to be of 21 years and above to apply for the loan. Minimum salary requirement for UAE nationals is AED 10,000 and for that of expats is AED 15,000. The employment will be verified and you have to be UAE nationals or resident.
    3. Reduce monthly payments

      Who doesn’t wish to lighten their financial burden? ADIB Home Refinance lowers your monthly payments or you can get done sooner by fewer payments. More convenient tenures are offered to meet the customer’s requirement.

      Salaried customers can take the fixed pricing rate of 2.99% p.a. for 2 years. They also get a grace period of 6 months. Up to 80% of the property value is financed. The customer gets upgraded to the ADIB Priority Status.

      ADIB provides insurance for the full tenure. For the early settlement, no fee is charged. UAE nationals can get the maximum finance up to AED 20 million and the expats get up to AED 10 million.

      Further requirements: Minimum age has to be 21 years. Minimum salary requirement for the UAE national is AED 10,000 and for that of expats is AED 15,000. This service is valid only for UAE nationals and residents. Joint applications are also accepted.

    4. Purchase from a developer

    5. When developers build a community they ease the lives of everyone. It is a dream to own a property by a leading developer. ADIB has partnered with all leading developers in UAE. There are special arrangements that are made to make the purchase easier. The bank doesn’t charge you any evaluation fee. The bank accepts joint applications with their spouses. The features of this service is as follows:
      • Salaried customers-
        • Can take the optional fixed pricing rate for 2 years at 2.99% p.a.
        • An optional grace period of 6 months is made available.
        • Up to 80% of the property value is financed.
        • Get upgraded to ADIB Priority Status.
      • ADIB gives insurance for the full tenure.
      • No early settlement fee.
      • Can get free partial settlement for the outstanding 30%, annually.
      • Optional salary transfer benefit.
      • Self- employed customers can benefit from this service.
      UAE nationals get financing up to AED 2 million and expatriates up to AED 10 million. Age requirement is a minimum of 21 years. Minimum salary requirement for the UAE nationals is AED 10,000 and for expats it is AED 15,000. To avail this service you need to be an UAE resident or UAE national. Joint applications with spouses are accepted.
    6. Build your own home

    7. Everyone has an idea of how they want their house to be built. ADIB helps you build your house the way you want it. The added benefit here is that the bank speeds up the contractor approval process. The other benefits are as follows:
      • Up to AED20 million is financed.
      • Repayment period is up to 25 years.
      • The payments are set on percentage completion.
      • To start the construction, you can utilize the Private Housing Loan Authority funds.
      • Contractor/Consultant approval process is offered.
      • ADIB’s subsidiary, MPM properties can manage the whole process of designing till the delivery.
      This service is available to UAE Nationals only. The minimum age requirement is 21 years and the minimum salary required is AED 10,000.
    8. Release cash from your property

    9. The property that you have can make you money for your future needs. The bank purchases your property and leases it back to you, for cash, that you can use as capital for your future investment. The equity released is up to 80% of the value of your home or land that is in Abu Dhabi or Dubai. The finance can be customised as per your need. But you need to be an UAE National, minimum 21 years of age and earning a minimum of AED 10,000. This service is valid only for the already constructed properties.
    10. Finance from non-UAE residents

    11. A non UAE resident can double their buying power by investing in UAE. You can avail finance up to 50% of the property’s value. For up to 2 properties the bank can finance up to AED20 million. The financing period is up to 25 years. You needn’t show any UAE income proof to obtain this service. The bank can help you take cash out of your existing UAE property.
    12. Buying a house in UK

      Who wouldn’t dream of living in the Fashion Capital of the world- London?

      ADIB can make that dream come true by giving you the opportunity to buy property in UK. You get a tenure of up to 25 years. ADIB finances up to 70% of the property value. This service is available for the self-employed and the salaried. This service is currently available only for UAE nationals, GCC citizens and Egyptian nationals.

      Further requirements are that you need to be minimum 25 years of age. Salaried customers need to make a minimum of AED 50,000. The self- employed need to have a minimum annual turnover of AED5 million. Joint applications are accepted by the bank.

    ADIB Buyout Loan

    ADIB Buyout Loan is provided to reduce the burden of your already existing mortgage. Refinancing your home loan with ADIB will not only reduce your financial burden but it will also get you better finance rates and convenient payment tenures. The bank offers buyout loan amount up to AED 20 million for UAE nationals and AED 15 million for expats in UAE. It also provides ADIB paid property insurance for the full tenure.

    Developer Purchase

    ADIB has partnered up with the leading developers in UAE to help you live in a community by a leading developer. One can avail finance up to AED 20 million under this finance option and also finance up to 80% of the property value.

    NRI Finance

    NRI Finance will let you own a home in India in any city, constructed by any developer. One can avail finance up to Rs.1.7 crore under this option and make instalment payment in Dirhams. It also offers free ADIB Job Loss protection.

    NRP Finance

    NRP Finance will make it possible for a customer to own a home in Pakistan by availing funds from ADIB. The bank offers finance amount up to PKR 27 million to purchase a house in any city, by any developer in Pakistan.

    There are two additional services that ADIB offers:

    • Finance for Business Owners:

    • Apart from this the business owners might be interested in being their own landlord too. ADIB Home Finance for Business Owners offers an exclusive plan for the self-made businessmen and women. This service is available for both UAE nationals and the expats.
      • You get a finance up to AED 20 million.
      • You can also avail finance of 80% of your property value.
      • Properties can be bought only in Abu Dhabi and Dubai. The tenure is up to 20 years. The option of cash out is also made available.
      • You need to be a minimum of 25 years old for UAE nationals and that of 30 years old for expats.
      • UAE nationals need to have a minimum of AED2 million turnover annually and the business needs to have run for a minimum of 4 years.
      • The expats on the other hand need an annual turnover of AED3 million annually and the business needs to have been established for 5 years.
    • Government Program Finance through ADIB:

    • ADIB is currently working with the following housing programs offered by the government:
      • Sheikh Zayed Housing Programme
      • Private Housing Loans Authority for Nationals
      • Mohammed Bin Rashid Housing Establishment
      This service is valid only for the UAE nationals. One needs to be a minimum of 21 years of age. The minimum salary requirement is AED 10,000. The customer must meet the additional government requirements as well.

    The bank offers various services to make it possible for its customers to pick the home loan that perfectly fits their need. Owning a house has been made easy with the various options of buying a house. The bank also helps you build the house of your dream. The monthly payment can be reduced or gives you the benefit of having fewer payments. Non-UAE residents can also opt to buy properties in Abu Dhabi and Dubai. UAE residents can expand their real estate portfolio by buying properties in the UK. If you need capital for your future investment, the bank buys your constructed property, which you can buy back on lease to get a cash flow without any hassle.

    1. Can I sell the purchased home before I repay the loan?
    2. Customers have a choice to repay the loan before the expiry of the term which allows them to get a property release. But there will an early discharge fee in this case. Usually you will have to pay 3% of the outstanding amount as Early Settlement Fees in case it is going to be sold during the term of a fixed-rate loan, or 1% of the outstanding amount of the loan or AED 10,000, whichever is less, in case the property is sold after the term of the loan.

    3. Can a rental property be financed by the bank?
    4. Yes, the bank funds rental properties too, but the rate of interest is slightly higher as the bank is under greater risk when financing properties that are not the primary residences of the customer.

    5. Are there any differences between APR and interest rate?
    6. Yes. APR refers to the overall cost associated with the mortgage for the length of its tenure, including fees, points and costs. Interest rates, on the other hand, refer to the price charged by the bank to lend you a sum of money.

    7. What is included in closing costs?
    8. Items such as attorney fees, documentation fees, title insurance fees, pre-paid interest, appraisal fees, etc. are included in the closing costs. Each item is different for different customers owing to differences in factors such as the location of the property, the type of mortgage, the cost of the loan, etc. Before the closing date, the bank will provide you with a detailed estimate of the closing costs associated with your mortgage.

    What should you know about the interest rates on Home Loans?

    The main factor while taking a home loan is the interest rate. Home loans are easily available from various banks across the UAE and the interest rate that is applicable on these loans depends on the bank that offers that loan. It is the rate of interest on the Home Loan that affects the EMI and hence your monthly budget throughout the tenure of the loan.

    A Guide to Mortgages for First Time Property Buyers.

    Buying a property for the first time in your life and that too on mortgage? It is a huge expense and a massive commitment to get involved with. Hence there are certain things you will need to know about it before you can proceed.

    Home Loan Transfer to another Banks

    Ever felt like changing your lender? There are lots of things that make refinancing a mortgage a good idea and the chief among them is that if can help ease the pressure of monthly payments. You can also walk away with lots of benefits, depending on the bank.

    Cash finance at low rates against existing property.

    Did you know that you can avail finance by tapping into the positive equity of your property? Instead of letting your property to sit idle, you may use it to avail finances. Many banks provide cash advances against properties for a lower rate of interest. Using properties as a collateral will help get cash advances of a higher amount at a very low rate.

    Buy-to-let mortgages in the UAE

    Buy-to-let mortgages are best suited for the people who want to make an investment in the property with just the intention of letting out the property for rent. But since their purpose differs much from the regular mortgages, so does their other attributes. Hence it requires a well informed decision before opting for it.

    Home Equity Loans in the UAE.

    Home Equity Loans provide the facility for homeowners to borrow funds by putting up the equity in their homes as leverage. Home Equity Loans or Second Mortgages are among the easiest sources of cash a customer could wish for. And these being tax deductible, offer an additional benefit.

    Home Refinance Loans in the UAE

    Home Refinance Loans provide an option to the customers to opt for an additional finance on the existing property so as to get a better term and rate of interest than offered by their current mortgage. The second mortgage can be taken out once the first has been repaid.

    Subprime Mortgages in the UAE.

    Subprime Mortgages provides mortgages for the acquisition of residential real estate, sanctioned to customers with a bad credit history. Hence the risk of default on these loans is significantly higher and so are the fees to make up for the extra risk.

    Home Loans for the Senior Citizens in the UAE.

    Reverse Mortgages are a special kind of mortgages targeted only at the customers who have crossed the age of 62 years. The banks or the lenders provide the money against the equity in the existing property and also do provide for the payments to be made either monthly or occasionally in lump sums.

    Interest only Mortgages in the UAE.

    Interest only Mortgage in the UAE provide the facility to the customer to pay off the interest on the mortgage before the principal amount. Interest only mortgages come with a fixed term and have so many benefits apart from low initial payments and are suggested for the customers who intend to sell the property after the end of the mortgage.

    Fixed Rate Mortgages in the UAE.

    Fixed Rate Mortgages offer finance at fixed rates throughout the loan tenor and hence the monthly payments due on fixed-rate mortgages also remain the same. They are the exact opposite of adjustable rate mortgages in which the monthly payments may be low during the initial stages of the mortgage but could potentially increase to almost double the initial interest rates which will increase the monthly payments.

    News about ADIB Home Loan

    • Abu Dhabi Islamic Bank gets awarded for SME Services

      Abu Dhabi Islamic Bank (ADIB) has received the Bankers Middle East Award for its outstanding SME services and got the accolades for two services in particular. ADIB won the ‘Best SME Internet Banking Service’ and the ‘Best SME Exchange Service’ from Banker Middle East.

      The business internet banking platform provided by ADIB offers services that are specifically designed to cater to the needs of SME’s and are secure and convenient. Wire transfers that can carry out international transfers, automatic utility bill payment features and card payments are some of the stand out capabilities of their internet banking platform.

      Tirad Al Mahmoud, CEO of ADIB, responded to the award saying that they have made great strides in development and improvement of their internet banking platform for SME and said that the service has received new enrolments with a growth rate of 106% year on year and also said that the award is a reflection of the clients having made the right decision to use the ADIB services.

      18th April 2016

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