- If you do not keep up with your payments, you will be committed to pay a donation amount based on the bank’s request (if any) and legal action may be taken if you fail to respond to any reminder notices issued
- Your property may be foreclosed upon, and you will have to bear all related costs. You will also be responsible for settling any shortfall after your property is sold
- Any legal action against you may affect your credit rating, which may limit your ability to access financing and make it more difficult or more expensive to access financing in the future
- You may have to pay applicable early settlement charges if you settle the full financing early
Get the UAE’s most competitive Islamic home finance at variable profit rates starting from 0.49%* + 3m EIBOR for the first year and 1.20%* + 3m EIBOR per year thereafter.
You can also enjoy the convenience of applying for a FAB Islamic account instantly on the FAB Mobile app.
Benefits of FAB Islamic products include Shariah-compliant solutions.
Home finance benefits:
- No salary transfer requirement
- No down payment requirement
- 0% processing fee, AED 3000 refund on the valuation fee, and AED 10,000 refund on the early settlement fee on buyout
Islamic account benefits:
- Islamic Mastercard debit card
- Islamic Mastercard Platinum debit card
- High daily limits of AED 20,000 for ATM withdrawals and AED 40,000 for retail purchases
- Anticipated profit rate of up to 2%* per year on new funds with the FAB Islamic Savings Account
- A chance to enter the Emirati Al Awwal draw with an AED 1 million mega prize with every AED 25,000 monthly average balance in an Islamic savings account
Get all these great benefits and more with FAB Islamic today.