As the institution that pioneered home finance in the region, Amlak brings its wealth of experience to you in the form of simple transparent Islamic Financing Schemes. Amlak Ijarah is our basic home finance product built on Islamic principles of Shari’a. Under Ijarah home financing, Amlak buys the property from the developer/seller and leases it out to the customer with a promise to sell at the end of the lease term. The customer pays monthly rentals that comprise of fixed, variable and supplementary rentals.

 

Product offering and features

  • Finance available for all completed residential properties in Dubai and Abu Dhabi
  • Islamic Finance products compliant with the principles of Shari’a
  • Salary transfer is not required
  • Maximum finance amount, up to 80% of the value of the property
  • Competitive profit rates based on customer credit profile
  • Longer tenures, up to 300 months

 

Eligibility Criteria

  • Available to all UAE residents, salaried, self employed individuals and companies/establishments registered in UAE
  • Minimum age at application: 21 years
  • Maximum age at end of finance: 65 years
  • Maximum Tenure:
    • Up to 25 years for UAE Nationals and Expatriates
    • Up to 10 years for Company or Establishment

 

Finance Criteria

  • Finance available, up to 80% for all ready properties
  • Minimum Finance Amount: AED 100,000/-
  • Maximum Finance Amount: AED 10,000,000/-

 

Fees and charges

  • Application Fees: AED 5,000/-
  • Processing Fees: 1 % of approved finance amount
  • Valuation Charges: AED 3,500/- (urgent charges extra)

Click here for Standard Tariff Schedule

 

Required Documents

General

  • Completed application form signed by all applicants (including co-applicants)
  • For UAE Nationals - copy of valid passport including last page
  • For Expatriates - copy of valid passport with valid UAE Residence Visa (minimum 3 months remaining validity), Home Country Residency proof and telephone numbers
  • Emirates Identity Card copy
  • Latest 6 months Bank Statement (Company and Personal)
  • Liability Letter/facility from the bank, if the applicant has any other outstanding finance (not older than 30 days)
  • Proof of other income (e.g. rental/sponsorship)
  • Copies of property documents {e.g. title deed (refinance cases), SPA etc.}
  • Copies of receipts of down payment/progress payment made to developers
  • Copies of Title Deed, Affection Plan, construction cost estimates, approved floor plan for self construction cases
  • Execution of all relevant finance documents on approval (e.g. offer letter, lease agreements etc.)

 

For Salaried Customers

  • Salary certificate (not older than 30 days) and stating confirmed service, previous employment letter (if less than 2 years with current employer)

 

For Self Employed/Company

  • Copy of Valid Trade License, Chamber of Commerce Registration and Memorandum & Articles of Association of the Company
  • If the applicant is a shareholder in a free zone company, copy of the Share Certificate to be provided
  • Latest 2 - 3 years' audited financial statements (should be signed by the Director/Authorized Signatory of the company). In-house financials are not acceptable
  • Board resolution signed by all directors, if availed in the company name. If the finance is obtained in the firm name, all partners must sign the resolution for availing finance
  • Relevant Passport copies of partners/directors

 

Note: Additional documents maybe requested based upon your profile, all finance applications are subject to terms and conditions of Amlak Finance PJSC

Installment Calculator

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Indicative amount, actual will vary depending on eligibility & other inclusions (takaful)