Home loan rates

For a Variable 3-month EIBOR Home Loan, you'll need to pay an early settlement charge when:

• you repay the loan in full from your own funds/sale of property within the first 3 years of the repayment period
• you repay the loan in full from the transfer of your home loan to another lender when within the first 7 years of the repayment period

The early settlement charge for Variable 3-month EIBOR Home Loan is 1% (1.05% inclusive of VAT) on the outstanding loan amount or AED 10,000 (AED 10,500 inclusive of VAT), whichever is less.

When won't you pay an overpayment fee?

For a Variable 3-month EIBOR Home Loan, you can overpay up to 25% of your total outstanding loan amount each calendar year, without an overpayment fee. The balance of your loan is calculated at the time of the first overpayment in that calendar year.

This is subject to a minimum overpayment amount of AED 25,000 on top of your usual monthly instalment. Payments must be made on the monthly instalment date.

There's also no overpayment fee after 7 years from your loan draw-down date.

When will you pay an overpayment fee?

You will pay an overpayment fee if the total value of overpayment amounts in a calendar year exceeds 25% of the total outstanding loan amount. The fee will be levied only on the overpaid amount which exceeds the 25%. No redraws are available.

The overpayment fee is 1% (1.05% inclusive of VAT) on the loan amount being overpaid or AED 10,000 (AED 10,500 inclusive of VAT), whichever is less.

Balance transfer

The arrangement fee for a balance transfer is AED 2,500 (AED 2,625 inclusive of VAT).

New home purchases

A standalone arrangement fee is payable for new home purchases on the amount of the approved loan. This is to cover the cost of the preparation of your documentation and the processing of your loan, and any other expenses that could arise. The fee is to be paid at the time of the loan approval.

Personal banking and Advance customers arrangement fee: 1% (1.05% inclusive of VAT) of loan amount, min. AED 5,000 (AED 5,250 inclusive of VAT)

Jade and Premier customer arrangement fee: 0.5% (0.525% inclusive of VAT) of loan amount, Min. AED 5,000 (AED 5,250 inclusive of VAT).

The cost for a home loan liability letter is AED 50 (AED 52.5 inclusive of VAT) per letter.

The property valuation fee is AED 2,625.

It's the same cost for both balance transfers and new home purchases.

Other fees and charges may be payable to other parties, including broker fees and charges that could be applied by your existing lender.

There is also the mortgage registration fee to consider, which is a cost from the Land Department.