Eligibility Criteria
1. Is there an age criteria?
Yes, the minimum age of the applicant should be 21 years. The maximum age on completion of the loan should not exceed 65 years.
2. What is the minimum income/salary?
For individual applicants, the minimum salary requirement is AED 8,000 per month onwards.
For self-employed applicants, the minimum income should be AED 100,000 per annum.
3. Can the income of more than one person be considered?
Yes, joint applicants can be considered, provided their total household income is AED 8,000 per month, subject to a minimum of AED 6,000 for one of the co-applicants.
4. What is the expected status of employment?
Salaried applicants should have 1 year employment continuity. Confirmation with the present employer is also necessary.
Self-employed applicants should be operating and profitable for the last 3 years.
5. What is the basis of evaluating an application?
Your application is evaluated based on the following:
- Income
- Stability of employment
- Willingness and ability to repay
- Business ownership: expatriate /UAE National owned (for commercial property)
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