Finance
Personal Finance - (Goods Murabaha,Services Ijarah and Certificates/Shares Murabaha)
| (in AED) | |
|---|---|
| Processing fee | |
| Certificates Murabaha | 0.75% of finance amount (Min. of AED 500 and Max. of AED 2,500) |
| Shares Murabaha/Goods Murabaha & Services Ijarah | 1% of finance amount (Min. of AED 500 and Max. of AED 2,500) |
| Takaful Fees | 0.0127% x Finance Amount x Finance Period (in months) Additional fees for Pilots & Aircrew: 0.00424% x Finance Amount x Finance Period (in months) Above rates are applicable for up to 5 years finance |
| Deal Cancellation Fee | 100 |
| Balance Liability Certificate | 60 |
| Clearence Letter (No Liability Certificate) | 60 |
| DDS/Cheque Return Fee (Any DDS/cheque deposited with the Bank to pay the monthly installment returned unpaid) | 0 |
| Deferment of Installment | AED 100 per installment |
| Obligated amount to charity (late payment fee) - VAT will not be applicable | 200 |
| Early Settlement | 1% of outstanding balance (maximum AED 10,000) |
| Partial Payment | 1% of payment made (maximum AED 10,000) |
Vehicle Finance
| (in AED) | |
|---|---|
| Processing fee* | |
| Salaried and Self Employed individuals | 1% of the vehicle finance amount (subject to min. AED 500 and max. AED 2,500 per vehicle financed) |
| Rent-a-Car and companies | 1% of finance amount (subject to min. AED 500 per vehicle financed) |
| LMHV Finance | 1% of finance amount (subject to min. AED 500 and max. AED 5,000 per vehicle financed) |
| Cheque return fee (Any cheque deposited with the bank to pay the monthly installment returned unpaid) | 0 |
| DDS cancelation/amendment to amend/change payee bank | Nil |
| Issuance of liability letter to other banks | 60 |
| No Objection Certificate (NOC) to change number plate/ transfer of registration | Nil |
| Late Payment Charges for overdue installment** | 200 |
| Advance payment of installment | 1% of installment |
| Change of due date on standing instructions | 25 |
| Early settlement fee | 1% of outstanding Max AED 10,000 |
| EMI deferment charges (Per Request) | 100 |
Bina'a and Manzili Home Finance
| (in AED) | |
|---|---|
| Arrangement Fees | |
| Pre approval fees | AED 1,500 for Bina'a - Salaried AED 2,500 for Bina'a - Self Employed AED 1,000 for Manzili - Salaried & Self Employed |
| Processing fees | 1% of the finance amount with no cap for all cases Fee can be deducted from Equity release amount (Optional) For Buyout with Equity Release, 1% of equity release amount |
| Prepayment Fees (Pre Purchase of Leased Asset) | |
| Under Construction/Completed Property (Salaried Individuals & Self Employed Individuals) | |
| a. Full settlement - Own funds | Residential Property - 1% of outstanding amount (Maximum AED 10,000) Commercial Property - 1% of outstanding amount (Maximum AED 10,000) |
| b. Full Settlement – Buyout | Residential & Commercial Property - 1% of outstanding amount (Maximum AED 10,000) |
| c. Dewan office settlement | NIL |
| d. Sheikh Zayed Housing Programme | NIL |
| Partial Settlement (Under Construction/Completed Property) | |
| a. Residential Property | 1% of the amount being settled/paid (Maximum AED 10,000) |
| b. Commercial Property | 1% of the amount being settled/paid (Maximum AED 10,000) |
| c. Dewan office settlement | NIL |
| d. Sheikh Zayed Housing Programme | NIL |
| Cancellation Fees | |
| a. Cancellation of application before approval | 3,000 |
| b. Cancellation of application by customer after approval by bank | No refund on pre approval fees For full case - AED 3,000 |
| c. Application declined by Financial Institution | No Charge |
| Takaful (Insurance) Fees(***) | |
| Property Takaful Fees | 0.05% of property value per annum |
| Life Takaful Fees | As per cost specified by the Takaful Provider |
| Letter Fees | |
| a. Liability Letter addressed to Banks & other Financial Institutions | 85 |
| b. Liability Letter addressed to Government Authorities & Charitable Organizations | 85 |
| c. Release Letter | 50 |
| d. Clearance Letter | 95 |
| e. Issuance of NOC | 150 |
| f. Request for other letters | 90 |
| g. Other certificates | 75 |
| Revalidation of Offer Letter Fees | |
| a. Offer Letter Renewal | 900 |
| b. Pre approval Renewal | 500 |
| c. Change in approval terms | 1,500 |
| Other Fees | |
| a. Deferment of Installment | 300 per installment |
| b. Change in Installment Recovery Dates | 350 |
| c. Non-standard statement production/Copy of original documentation | 100 per document |
| d. Late Payment Fee** | 700 per installment |
| e. Change of Repayment Account | 250 |
| f. Extension / Reduction of Tenor | 5,000 subject to approval |
| Property Evaluation Fees | |
| Payable to Emirates Islamic | Residential: Bina - AED 3,500 & Manzili – AED 2,500, or as charged by the evaluator approved by Bank Commercial: AED 6,000 or as charged by the evaluator approved by Bank |
| Municipality Fee | |
| Registration Fee | As per the particular Emirate of UAE Municipality Tariff |
| Mortgage Fee | As per the particular Emirate of UAE Municipality Tariff |
| Mortgage Release | As per the particular Emirate of UAE Municipality Tariff |
The Bank reserves the right to change the above Bank pricing at any point of time and thus the above rates are applicable as of date. Charges will be levied as applicable at the time of the transaction & as determined at the sole discretion of the bank and after announcing it.
*Non-refundable post approval.
** Portion of which is payable by the Bank to charity as per the Shari'a board approval
***Rates mentioned are minimum & indicative only. Takaful rate may increase based on outcome of medical tests undertaken through the Takaful provider appointed by the Bank
****All charges, commissions and fees are exclusive of Value Added Tax or any other similar sales tax (VAT).
Please note that there may be additional charges which are to be paid to the developer according to the tariff of the Developer.
General Conditions:
- Charges are in UAE Dhs and subject to Bank's Policy
- All fees and charges mentioned in this guide are subject to change without notice. Updated tariff will be available on the bank's website www.emiratesislamic.ae
- Any fees listed in this guide apply to normal transactions. The bank reserves the right to levy additional charges for additional services at its sole discretion.
- Charges for any services not mentioned in this booklet will be available on request.
- Al Reem customers will be charged as per the type of account customer holds i.e. Classic or Select.