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Best Mortgage Offers for UAE Nationals

Quick and easy way to your new home or investment with affordable mortgages

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Current bank interest rates in UAE

Bank Published banks interest rate Down payment Repayment period Installment for AED 3,500,000 loan amount
First Abu Dhabi Bank 4.24% from 15% up to 25 years AED 18,941
Emirates NBD 4.79% from 15% up to 25 years AED 20,035
Mashreq 4.99% from 15% up to 25 years AED 20,440
RAKBank 4.79% from 15% up to 25 years AED 20,035
Commercial Bank of Dubai 4.79% from 15% up to 25 years AED 20,035
Arab Bank 4.50% from 15% up to 25 years AED 19,454
Abu Dhabi Commercial Bank 4.75% from 15% up to 25 years AED 19,954
Abu Dhabi Islamic Bank 4.44% from 15% up to 25 years AED 19,335
Dubai Islamic Bank 4.74% from 15% up to 25 years AED 19,934
HSBC 4.99% from 15% up to 25 years AED 20,440
National Bank of Fujairah 5.75% from 15% up to 25 years AED 22,019
United Arab Bank 4.35% from 15% up to 25 years AED 19,157
Standard Chartered Bank 4.79% from 15% up to 25 years AED 20,035
Emirates Islamic Bank 4.49% from 15% up to 25 years AED 19,434
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Conditions for pre-approval

Employment
  • Salaried employees - at least 6 months in their current job
  • Self-employed - running their business for at least 2 years
Credit history
  • Good credit history is necessary
Income
  • Minimum income considered by many banks starts from USD 4k (or oveer USD 816k in annual turnover for self-employed)
  • Maximum 50% of income dedicated to repayment
Employment sector
  • Some banks only offer loans to employees from well-established institutions or government departments
Down payment
  • Starting from 20% (15% with national Islamic funding options)
Loan term
  • Up to 25 years
Age range
  • Between 21 and 70 years old
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Required documentation for pre-approval

Personal documentation
Emirates ID or passport

Salaried employee

  • Latest salary certificate
  • Latest pay slips (if there is more than 10% variation in income)
  • Proof of previous employment if in current for less than 3 years
  • Any additional bank statements from the last 6 months

Self-employed

  • Valid Trade License copy
  • MOA (Memorandum of Association) including all amendments
  • Bank statements from the last 6 months
  • Audited financials from the last 2 years
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Property documentation

  • Quote or offer letter from the seller
  • Sale or purchase agreement
  • Title deed or site plan
  • Copy of valid facility approval*
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Maximum monthly instalment and loan amount

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Monthly income in AED Maximum monthly instalment in AED Maximum mortgage loan amount in AED
10,000 5,000 1,500,000
12,000 6,000 1,800,000
14,000 7,000 2,100,000
16,000 8,000 2,400,000
18,000 9,000 2,700,000
20,000 10,000 3,000,000
22,000 11,000 3,300,000
24,000 12,000 3,600,000

Mortgage loan down payment

Property type Property price Maximum LTV (loan-to-value ratio) Minimum Down Payment Required
First property (Islamic financing) Under AED 5 million
Over AED 5 million		 85%
80%		 15%
20%
First property (standard financing) Under AED 5 million
Over AED 5 million		 80%
70%		 20%
30%
Any subsequent property Any price 65% 35%
Off-plan / under-construction property Any price 50% 50%

Mortgage duration process

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Typical process phase Estimated duration
Registration and loan inquiry at Kredium 5-10 minutes
Personalized offers from Kredium 30 minutes-1 hour
Mortgage application with a lender 1 day
Mortgage processing by a lender
• Salaried employees 7-10 days
• Self-employed 15-20 days
Mortgage closing with a lender 1 day
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Costs of mortgage approval

Costs Amounts in case of a AED 3,500,000 loan
Mandatory one-time costs In AED
Land department fee 175,580
Property registration fee 4,200
Mortgage registration fee 8,760
Valuation fee 3,675
Bank processing fee 36,750
Optional one-time costs In AED
Real estate agency or broker fee 91,875
Conveyancing fee* 8,000
Oqood fee** 175,000
Mandatory recurring costs In AED
Life insurance 392
Property insurance 191
Total 504,423
Without optional costs 229,548

Monthly instalments for a AED 3.5 million mortgage loan with different rates and terms

Interest rate Mortgage instalments
10 years 15 years 20 years 25 years
1.90% 32,048 22,362 17,541 14,665
2.20% 32,519 22,847 18,039 15,178
2.40% 32,836 23,173 18,377 15,526
2.60% 33,154 23,503 18,718 15,878
2.80% 33,474 23,835 19,062 16,236
3.00% 33,796 24,170 19,411 16,597
3.20% 34,120 24,508 19,763 16,964
3.40% 34,446 24,508 19,763 16,964
3.60% 34,774 25,193 20,479 17,710

Early mortgage repayment

  • 1% fee (1.05% inclusive of VAT) on the outstanding loan amount
  • The fee is capped at AED 10,000 (AED 10,500 inclusive of VAT)
  • Some lenders allow early settlement up to 40% of the loan amount with no fee required
  • Some lenders don't charge a fee for early settlements up to 15% of the outstanding amount (limited to once per year)
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Imagine you want to prepay your loan and fully close it in 5 years

Year 0 1 2 3 4
Outstanding amount 3,500,000 2,800,000 2,100,000 1,400,000 700,000
Prepayement 700,000 700,000 700,000 700,000 700,000
Fee 10,500 10,500 10,500 10,500 7,350

Contact us

Kredium Technologies LLC

info@kredium.ae
+971 56 417 6546

Single Business Tower, 26th Floor
153 Sheikh Zayed Rd
Business Bay, Dubai, UAE