Introduction to the Arab Bank Home Loan in the UAE
With Arab Bank Home loan schemes, now you can turn your dream of owning a house into reality. Under its housing loan section, Arab Bank offers four different home loan schemes which include:
Ready Property Loan: This scheme enables you to purchase certain ready properties in the UAE by providing finance up to 75% of the total value of your property.
Non-Resident Jordanians Home Loan: With Non Resident Jordanians Home Loans offered by the Arab Bank, you can now purchase a property in Jordan.
Non-Resident Lebanese Home Loan: This scheme enables you to purchase your dream home in Lebanon with the help of Arab Bank’s branches located in Lebanon or in the UAE.
Non-Resident Palestinians Home Loan: This scheme is designed to help you purchase your dream home in Palestinians.
Features of the Arab Bank Home Loan
The Arab Bank Home Loans come with a number of attractive features which include:
- Competitive rates of interest on home loan.
- Offers finance up to 75% of your property cost.
- Enjoy convenient and flexible loan repayment tenures up to 25 years.
- Quick loan application processing and minimal documentation.
- The bank provides dedicated sales team to help you at your doorstep.
Benefits of Arab Bank Home Loan
The following benefits you can enjoy with your Arab Bank Home loan:
- Get high loan amounts to purchase your chosen property.
- Enjoy preferential insurance rates on home loan.
- Get free pre-approved credit cards.
- Enjoy housing loan buyout facility.
Eligibility for Arab Bank Home Loan
Before you apply for a housing loan with Arab Bank, check your eligibility. You need to fulfil the eligibility norms determined by the bank to qualify for its housing loan schemes.
Documents Required for Arab Bank Home Loan
Arab Bank requires the following documents to process your home loan application:
- Copy of passport.
- Recent utility bills such as electricity bills or telephone bills stating the name of client.
- Latest Salary slips or income verification certificate.
- Copy of sales agreement.
- Ownership document of the financed property issued by builder.
- Proof of down payment made to builder.
- Bank statement of last 6 months.
Apart from the above-mentioned documents, Arab Bank may ask you to produce additional documents.
Fee & Charges for Arab Bank Home Loan
The fee and charges charged on home loans by Arab Bank are subject to change. Also, the bank may charge different rates of interest on its different home loan schemes.
Other products offered by Arab Bank, in UAE are:
Why choose Arab Bank Home Loan
Home loan offered by Arab Bank not only help you purchase your dream home in your preferred location, it also enables you to enjoy a host of other benefits such as preferential interest rates, free credit cards, dedicated sales team and high loan amounts. The bank offers different housing loan schemes to meet your personal preferences. Besides, it is very easy to apply for a home loan with Arab Bank. Either you can do it online or contact the bank’s customer service department. Also, you can physically visit the branch to apply for the same. Established in 1930, Arab Bank is one of the leading financial institutions in the UAE and offers a wide range of financial products and services, apart from offering various home loan schemes. The bank is headquartered in Amman.
Frequently Asked Questions - FAQs
How much finance can I receive from Arab Bank, if I want to buy a property in Jordan?
Is the Ready Property Loan offered by Arab Bank applicable for all properties in the UAE?
Is important to submit a copy of the sale agreement made between me and builder to Arab Bank to process my home loan application?
What is the maximum home loan repayment tenure offered by Arab Bank?
What are the different home finance schemes offered by Arab Bank?
Can I apply for a home loan with Arab Bank online?
Does Arab Bank offer preferential insurance rates on home loan?
You can receive up to 75% of your property value if you are purchasing a property in Jordan.
No, the Ready Property Loan is applicable for only select properties.
Yes, it is important to submit a copy of the sale agreement/ contract to the bank.
The maximum home loan repayment tenure offered by Arab Bank is 25 years.
The bank offers the following home finance schemes- Ready Property Loan, Non-Resident Jordanians Home Loan, Non-Resident Lebanese Home Loan and Non-Resident Palestinians Home Loan.
Yes, Arab Bank offers the provision of applying for home loans online.
Yes, the bank offers preferential insurance rates on home loans.