Best mortgage rates in the UAE

The UAE is one of the most dynamic countries in the world, with two of the most future-focused and fastest growing cities in the Middle East and North Africa region. As a result the real estate in the UAE is a constant topic of discussion.

Real estate investors in the UAE benefit from bank interest rates that are often lower than in surrounding countries, while the lifestyle enjoyed by those living in the UAE appeals to a wide variety of tastes. These two factors have been key reasons in how the country attracts a large number of expats to its shores every year, and why the UAE property market continues to grow.

Nearly every bank offers mortgages for expats in the UAE as well as nationals. Here is a list of some of the best rates available from leading banks in the UAE:

1. First Abu Dhabi Bank (FAB) mortgage loans:

Interest rates start at 1.99% per year. They offer several fixed rate options so you can choose payments and terms that suit you. They also offer up to 85% financing for first time buyers. Minimum income must be AED 15,000, and the maximum loan amount is AED 10 million.

2. CBD Mortgage Loan for expats:

The bank offers an interest rate of 2.49% and requires a lower-than-usual minimum salary of AED 12,000. The loan amount is limited to AED 20,000,000. You can also transfer your UAE mortgage loan from other financial institutions to reduce your monthly payments. Expatriates can also invest or refinance properties in Dubai with some selected developers.

3. Standard Chartered Mortgage One:

In this scheme, your checking account and home loan are linked, with interest calculated on the difference between your outstanding loan balance and the money in your account. This allows you to take years off your mortgage by paying less interest than would be levied via a traditional home loan. Interest is set at 2.5% and your minimum salary must be AED 15,000. The bank offers up loans up to AED 18,000,000.

4. RAK Bank Home in One loan:

Home in One is ideal for those who are buying a house, either for their own use or as an investment. They offer attractive interest rates of as low as 2.39% and link your checking account balance to your mortgage loan to reduce the effective mortgage balance you have to pay interest on. This allows you to reduce your monthly payments. Your income must more than AED 15,000 and the maximum loan amount is capped at AED 18,000,000.

5. United Arab Bank (UAB) construction financing:

If you are a UAE national looking for the most effective mortgage, this construction financing from UAB is for you. The interest rate offered is 1.79%. A minimum salary of AED 15,000 is required for nationals, and AED 20,000 for expats. The maximum loan amount is AED 10 million.

We hope you found this article helpful. Are you considering buying a property in Dubai or Abu Dhabi? For support in getting your mortgage, start your journey and get pre-approved today with Lenddoo, the most trusted mortgage broker in the UAE.