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Frequently Asked Questions

CRE is financing set for purchases against real estate properties such as residential towers, residential complexes or commercial properties like offices and shops. 

It’s a financing facility that is based on the Islamic Shairah-compliant principle of ijara wherein the bank buys a property selected by you, such as a house, villa, apartment, townhouse, or small building, and leases it to you with the end goal of transferring property ownership to you at the end of the lease term or (if earlier) on an early settlement date. The property will be held by the bank as security until you complete all required payments of the facility.

No, you will not receive cash in hand. The bank will purchase your current property and then transfer your existing home financing plan to FAB Islamic after which you may use the extra funds after settling your existing bank’s remaining outstanding balance to reinvest directly either to buy other property, or, upgrade your current property through renovation or refurbishment, etc., based on the agreed upon terms and conditions.

Estate Finance is financing set for purchases against the value of a multi-story building.
Down Payment is the initial amount you need to contribute to avail a home finance facility from a financial institution.
Yes, we do offer a buyout home financing option. Please visit our Islamic Home Financing options for Residents and Non-Residents to learn more.
You may qualify for up to a maximum amount of AED 100 million.
The people that benefit are landlords owning eligible real estate properties whereby properties will be under property management with proper rental assignments.
You may qualify for up to a maximum amount of AED 200 million.

Should you wish to get a Home Financing facility from FAB Islamic, the property valuation, also called a site visit, will be conducted by one of the evaluators on our approved panel. Evaluators will visit the property to estimate its value. If you have already selected the property, and wish to estimate its worth, all you need to do is confirm who will could be contacted for the property’s valuation. To request a property valuation, you may call our Contact Centre on 600-525500.

If you need the property valuation to be conducted without a Home Financing facility from FAB Islamic, then you will have to contact a property valuator.

We offer a very flexible repayment plan on a monthly, quarterly or semi-annual basis with a grace period of up to 90 days to start your first repayment.
Yes. You would need both Life Takaful and Property Takaful covers for your home finance facility. FAB Islamic has a group takaful cover available through our partners for both and both can be easily availed. You will not be required to do any medical test for home finance amounts up to AED 6 million.
You can repay Estate Finance in up to a maximum of 20 years.
Normally the repayment is against the rental proceed from the real estate being financed. As an Elite Customer, you may opt for a very flexible repayment plan on a monthly, quarterly or semi-annual basis with a grace period of up to 90 days to start your first repayment.
EIBOR (Emirates InterBank Offered Rate) is a benchmark rate published daily by UAE Central Bank. Daily and historical data for EIBOR is available at UAE Central Bank’s website EIBOR Rates | CB UAE (centralbank.ae).
Depending on the approximate value of the property, you may be required to get two valuation reports.
You can repay the facility over a maximum of 15 years.
You can use a wide range of property types to secure your home finance facility. This includes apartments, villas, townhouses.
Depending on the approximate value of the property, you may be eligible for up to 65% of the market value and you may be required to get two valuation reports.
Documents related to your identity, income, existing financing facilities, property and its rental records (if already occupied by tenants) would be required.
Documents related to your identity, income, existing financing facilities, property and its rental records (if already occupied by tenants) would be required.
You can find your dream home by looking around the market, developer listings, property dealers and sellers etc. Please refer to our Insightful Tips and Resources section for more information.

The remaining amount will be financed by the bank through comparing the financing amount required relative to the value therein. How much a bank can finance depends on various factors, such as the total price of the property, if you are a UAE national, a resident or non-resident or the end-use of the property. To know how much FAB Islamic can finance your home finance facility, visit our Home Finance Calculator.

Depending on your financial information, you can avail up to a maximum of AED 20 million. If you are an Elite or a Private Banking client, please contact your Relationship Manager for more information.
You can get up to a maximum of 25 years home finance facility, depending on meeting the age criterion.
For a residential or investment home finance facility, you must be above 21 years and below 70 years at the time of the maturity of the home finance facility.
Your income must be above AED 15,000 to be eligible for a home finance facility from FAB Islamic.
Yes, of course. You can apply for a Home finance facility at FAB Islamic jointly with your parent, spouse, or sibling. We can consider income from one of both joint applicants.

FAB Islamic offers a diverse range of Home Finance options.

  • Residential Home finance facility for properties you'll use for self or family residence.
  • Investment Home finance facility for properties to rent out for extra savings
  • Buyout home finance for transferring your existing home financing facility from another bank to FAB Islamic
  • Non-resident Home finance facility for expats who wish to invest in UAE real estate
  • Estate Finance - for multi-story buildings or clusters of villas or apartments
Please visit our Types of Home finance facilities section to learn more.
If you intend to stay in the property that you are applying a home finance facility for, then you should apply for a Residential home finance facility. However, if the purpose of purchase is investment i.e. you plan to lease the property for rental returns to a tenant, then you should apply for an Investment home finance facility.
While documentation requirement largely depends on the type of home finance facility and customer segment, a standard home finance facility includes documents related to your identity, income, existing financing facilities and property.

Please visit our Types of Home Financing section to learn more.
The cost of obtaining a FAB Islamic home finance facility includes a home finance facility processing fee, property valuation fee, property takaful contribution amount and life takaful contribution amount.

For a complete list of Home finance facility Tariff and Schedule of Charges, please click here.
For a complete list of Home finance facility Tariff and Schedule of Charges, please click here.
Your credit score plays an important role in your credit decision. Please ensure that you disclose your income and liabilities concisely. All payments due should be made in time.
Building Savings Account or BSA is the name of a rental collection account that is used to place the number of rentals received from your rented-out  property. BSA is only applicable for Investment Deposit Account.
If you are applying for an Investment Home finance facility, you are required to open a Building Savings Account. It is absolutely free of charge and a productive way to separate the rentals from the rest of your cash flow.
We need a valuation report for all home finance facility applications. We will arrange the valuation on your behalf and the cost will be paid by you. A valuation report will determine how much the property whether it is a house, villa, apartment, a townhouse is worth. Based on this valuation we can determine how much the bank can finance compared to your contribution (down payment).
You have a choice of profit rates to choose from.

We offer the below:
  • A combination of fixed and variable rate 
  • Only variable rate
  • Limited-time fixed profit rates
  • Choice of variable rate from Home finance facility Base Rate or EIBOR
  • In a combination rate structure; the Fixed Rate remains fixed during the agreed period (e.g. 1, 2, 3, 5 or 10 years) after which it switches to a pre-agreed variable rate
  • In an only variable rate structure, the home finance facility is linked with EIBOR right from the beginning of the financing period. The variable rate keeps on fluctuating depending on prevalent market rates

Key factors you may want to consider are while choosing between fixed or variable rates are:

  • How long do you want the home finance facility tenor (term) to be, as this can affect your monthly payment amounts, the total amount of accrued profit you will pay and how much you can afford to pay monthly
  • How much of your monthly personal income do you want to spend on your home finance facility and if this is affordable with your other commitments
You can save the total accrued profit by shortening the financing period. For example, you can choose a financing period of 20 years instead of 25 years, if eligible or increase the amount of your contribution, if affordable.

To review how you can reduce the total accrued profit, please visit our Home Finance Calculator.
You may be considered for a home finance facility if you're employed in UAE for a minimum of three months or at least confirmed in service.
Absolutely. You can apply for a Non-Resident Investment Home Finance Facility where the property rentals will be used for repayment. Click here to fill out your details and one of our Home finance facility Advisors will get in touch.
In order to avail a FAB Islamic Home finance facility, you would need to have property takaful and life takaful availed from our range of takaful providers.
For salaried, self-employed applicants, the payments are due monthly for the duration of the home finance facility tenor. For example, if you have a 25-year home finance facility you'll have 300 monthly payments. The first payment will be due one month from the date you receive your home finance facility funds. For example, if your home finance facility starts on 1st May, the first payment is due on 31st May.

For the home finance facility type where rental income is involved, we are flexible to match the payments with rental receipts for up to a quarter, which means the payment will be due after every 3 months. The takaful contribution amounts would need to be paid monthly in all instances.
We’ll include a full list of your responsibilities in the paperwork we send you when you apply for your home finance facility. Your responsibilities usually include:
  • Making your home finance facility payments on time
  • Keeping your property in a good condition
  • Having property takaful for your to cover the outstanding amount
A summary of your Home finance facility is available on your FAB Mobile banking app. Alternatively, you may also request a digital statement at your registered email address or printed statement by contacting our Contact Centre.
You can view your home finance facility’s balance and complete snapshot by login into your FAB Mobile banking app.
To settle your home finance facility, you'll need to specify if you are settling the remaining amount from your funds or by taking over the home finance facility balance to another financial institution. For both scenarios, our dedicated Home finance facility Specialists are available to guide you through the process. Click here to place a request for settlement of your home finance facility with our Contact Centre.
The financing cost is when you choose to get this property partially financed by a bank such as profit-rate related costs, financing-related processing fees, life takaful contribution amounts, property takaful contribution amounts, property valuation fees etc. The non-financing related cost is associated with owning the property such as developer fees, property dealer’s commission, land department fees, fee of issuance of title deed, home financing registration fee (if funded from a bank).
The principal is the amount contributed/financed by the bank for a home finance facility whereas profit represents the amount of profit gained by the bank from the financing facility (at a certain percentage). For example, for a home finance facility of AED 1 million at a profit rate of 1.99% per annum for 25 years payable by monthly instalment of AED 4,234.35, the profit rate portion for the first month will be AED 1,635.62 and principal will be AED 2,598.73, whereas the total profit for the entire 25 years would be AED 270,305. For more examples and to work on your calculation you may access our Home Finance Calculator at www.bankfab.com.
In case of the demise of the person under whom the home financing facility is set and where the property has any remaining amount outstanding to a bank, the standard process is that a life takaful claim is requested by the bank following which the outstanding balance is settled, so that the property is then released from any bank charges, and its ownership is then transferred to the legal heirs as per applicable laws of UAE Courts.


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