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EMIRATES ISLAMIC Home Finance - Manzili

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EMIRATES ISLAMIC Home Finance - Manzili

Features

  • Attractive and highly competitive profit rates linked with EIBOR
  • 1% Processing Fee (0% processing fee for buy-outs)
  • Easy documentation and quick approvals
  • Low rate on Life Takaful
  • Enrolment into Priority Banking (subject to eligibility)
  • Finance solutions available for transfer/registration and brokerage fee

Eligibility

  • Minimum Salary Requirement: AED 15,000 for both UAE local and Expats
  • Minimum Length of Service Required: 6 months for salaried & 2 years for self-employed
  • Salary Transfer: Not compulsory.
  • Minimum Down payment: 20% for UAE Local and 25% for Expats.

Salaried Residents:

  • Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals (original required for verification)
  • Copy of labor contract
  • Original Salary Certificate less than 45 days old providing details on length of employment, current designation and salary package OR
  • Salary Transfer Letter in case Salary is transferred to Emirates Islamic
  • Last three months pay slips (if applicable)
  • Last 6 months bank statements reflecting salary credits
  • Liability letter less than 30 days old reflecting borrowings with the bank to which your salary is transferred
  • Originals of property details including the
    • Quote/Offer Letter from the seller,
    • Sale and Purchase agreement,
    • Title Deed and Site Plan
    • Receipts of down payment made to the seller

Salaried Non-Residents:

  • Copy of valid passport (original required for verification)
  • Original Salary Certificate less than 45 days old providing details on length of employment, current designation and salary package
  • Last three months pay slips (if applicable)
  • Documentation from your bank including
    • Last 6 months bank statements reflecting salary credits
    • Liability/Reference letter no more than 45 days old
    • Latest tax returns for the previous 2 years (if applicable)
    • Credit Bureau Report (if applicable
  • Originals of property details including the
    • Quote/Offer Letter from the seller,
    • Sale and Purchase agreement,
    • Title Deed and Site Plan
    • Receipts of down payment made to the seller

Self-Employed Residents:

  • Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals (original required for verification)
  • Business related documentation (originals required for verification)
    • Copy of trade license
    • Copy of Chamber of Commerce Registration
    • Copy of Partnership Page in case of multiple partners
    • Copy of Memorandum/Articles of Association
    • Original Audited Financials for the last 2 years
    • Copy of Labor Contract
  • Last 12 months Business Account Statements (6 months is acceptable but not preferred)
  • Last 6 months Personal Account Statements
  • Originals of property details including the
    • Quote/Offer Letter from the seller,
    • Sale and Purchase agreement,
    • Title Deed and Site Plan
    • Receipts of down payment made to the seller

Self-Employed Non-Resident:

  • Copy of valid passport (original required for verification)
  • Business-related documentation (originals required for verification) including:
    • Copy of trade license
    • Copy of Chamber of Commerce Registration
    • Copy of Partnership Page in case of multiple partners
    • Copy of Memorandum/Articles of Association
    • Original Audited Financials for the last 2 years
    • Copy of Labor Contract
  • Documentation from your bank including
    • Last 12 months Business and Personal Account statements
    • Liability/Reference letter
    • Latest tax returns for the previous 2 years (if applicable – original will be required for verification)
    • Credit Bureau Report (if applicable)
  • Originals of property details including the
    • Quote/Offer Letter from the seller,
    • Sale and Purchase agreement,
    • Title Deed and Site Plan
    • Receipts of down payment made to the seller

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