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CBD Ijarah Home Lease for UAE Nationals
Ijarah Home Lease for UAE Nationals
Features
- For salaried people between 21 and 65 years of age are eligible to apply for this scheme
- For self-employed people between 21 and 70 years of age(at loan maturity) are eligible to apply for this scheme
- For the salaried individual minimum length of service of 6 months is required and for self-employed individual minimum work experience of 3 years in business
- For salaried individuals 3 months bank statement is required and for self-employed individuals, original 12 months company and personal bank statement is required to be submitted
- Minimum salary of AED 20,000 is required
- Provides financing at an interest rate of 3.99%
- The reduction rate and the flat rate is 3.99% and 2.2%. This denotes that the computation done was a division of the reduction rate by 1.813.
- Finance up to AED 15,000,000
- Required to put 20% down payment for this finance
- Early settlement fee is 1% of the outstanding loan amount
Benefits
- Refinance your ready property to get easy access to liquidity
- Can invest in under construction property
- You get repayment period up to 25 years
- You get to repay up to 15% of your Outstanding loan every year without paying any additional charges or fees
- You get dedicated Staff to assist you further
- 0% processing fee on Buyouts
Frequently Asked Questions
⭐ I’m a salaried individual but I get some income from other sources. Will this be included for being eligible?
A. Yes, you should provide valid documents to prove your additional income.
⭐ Is salary certificate a mandatory document?
A. Yes, salary certificate is a mandatory document for salaried individuals.
⭐ Is salary transfer mandatory?
A. Salary transfer to CBD account is not mandatory but if you transfer your salary you can avail some extra benefits.
⭐ What is the maximum finance provided?
A. Maximum finance of AED 15,000,000 is provided for UAE Nationals.
⭐ How much finance is provided on a property?
A. 80% of the property value is provided as finance.
⭐ What is the minimum length of business required for self-employed individuals?
A. For self-employed individuals, your length of business must be minimum 3 years.
⭐ What is the eligibility criteria for getting a loan to purchase an under construction property?
A. Only UAE Nationals with a minimum age of 21 years are eligible for getting a loan to purchase an under construction property.
⭐ For how long insurance is provided?
A. Insurance is provided for complete tenure.
CBD
Commercial Bank of Dubai (CBD) offers a wide range of retail and commercial banking products and services, in both conventional and Shariah-compliant formats, with a network of 26 branches and over 210 ATMs throughout the UAE. The bank endeavors to build sustainable prosperity through extraordinary banking experiences. CBD commits to:
- Authenticity
- Simplicity
- Partnership
- Innovation
- Responsibility
- Excellence
Get in touch with CBD Customer Care