Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
SIB Tamallak Home Finance SIB Tamallak Home Finance Minimum Salary: AED 25,000 Salary Transfer: No Early Settlement Fees: No Maximum Term: 20 Years Flat Rate: 3.31% Reducing Rate: 6.0%
Apply Online Now
Fill in your details below and a product advisor will call you back with more details.
At present, you can't apply for this product via compareit4me.com. But don't worry, by filling in the form below we'll help you find other options that you can apply for!
Some required information is not valid
Having your own home is your concern? SIB Tamallak (Home Finance), based on Islamic finance of Ijarah concept, is your choice. They purchase and possess the property and lease it to you. Then, they will transfer the ownership of the property for a nominal price as a gift for you.
Features
  • Long and flexible repayment periods
  • Fixed rent that gives you stability against rates fluctuation
  • Convenient monthly installments
  • Available for ready and under construction properties
Documents Required
  • Original passport & UAE National ID
  • Valid UAE residence visa for expatriates
  • Six months bank statement
  • Salary Transfer Letter Valuation Certificate
  • The property documents (Site Plan, Map & Title of Deed, etc...)
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
ADCB - Home Saver
Minimum Salary
AED 8,000
Reducing Rate
5.49%
RAKBANK - Home in One
Minimum Salary
AED 15,000
Reducing Rate
3.49%
Emirates Islamic - Manzili Home Finance
Minimum Salary
AED 15,000
Reducing Rate
2.95%
al khaliji France - Mortgage
Minimum Salary
AED 25,000
Reducing Rate
3.99%