Finance

Personal Finance - (Goods Murabaha,Services Ijarah and Certificates/Shares Murabaha)****


(in AED)
Processing fee
Certificates Murabaha 0.7875% of finance amount (Min AED 525, Max AED 2,625)
Shares Murabaha/Goods Murabaha & Services Ijarah 1.05% of finance amount (Min AED 525, Max AED 2,625)
Takaful Fees 0.0127% x Finance Amount x Finance Period (in months Additional Fees for Pilot & Cabin Crew:- 0.00424% x Finance Amount x Finance Period (in months) above rates are applicable for 5 years pricing
Deal Cancellation Fee 105
Balance Liability Certificate 63
Clearence Letter (No Liability Certificate) 63
DDS/Cheque Return Fee (Any DDS/cheque deposited with the Bank to pay the monthly installment returned unpaid) 0
Deferment of Installment AED 105 per installment
Obligated amount to charity (late payment fee) 210
Early Settlement 1.05% of outstanding balance or max AED 10,500
Partial Payment 1.05% of payment made (maximum AED 10,500)

****All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT). The Customer hereby agree to pay an amount in respect of any applicable VAT.


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 1,575 for Bina'a - Salaried
AED 2,625 for Bina'a - Self Employed
AED 1,050 for Manzili - Salaried & Self Employed
Processing fees 1.05% of the finance amount with no cap for all cases
Fee can be deducted from Equity release amount (Optional)
For Buyout with Equity Release, 1.05% 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 - 1.05% of outstanding amount (Maximum AED 10,500)
Commercial Property - 1.05% of outstanding amount (Maximum AED 10,500)
b. Full Settlement – Buyout Residential & Commercial Property - 1.05% of outstanding amount (Maximum AED 10,500)
c. Dewan office settlement NIL
d. Sheikh Zayed Housing Programme NIL
Partial Settlement (Under Construction/Completed Property)
a. Residential Property 1.05% of the amount being settled/paid (Maximum AED 10,500)
b. Commercial Property 1.05% of the amount being settled/paid (Maximum AED 10,500)
c. Dewan office settlement NIL
d. Sheikh Zayed Housing Programme NIL
Cancellation Fees
a. Cancellation of application before approval 3,150
b. Cancellation of application by customer after approval by bank No refund on pre approval fees
For full case - AED 3,150
c. Application declined by Financial Institution No Charge
Takaful (Insurance) Fees(***)
Property Takaful Fees 0.0525% 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 89.25
b. Liability Letter addressed to Government Authorities & Charitable Organizations 89.25
c. Release Letter 52.50
d. Clearance Letter 99.75
e. Issuance of NOC 157.50
f. Request for other letters 94.50
g. Other certificates 78.75
Revalidation of Offer Letter Fees
a. Offer Letter Renewal 945
b. Pre approval Renewal 525
c. Change in approval terms 1,575
Other Fees
a. Deferment of Installment 300 per installment
b. Change in Installment Recovery Dates 367.50
c. Non-standard statement production/Copy of original documentation 105 per document
d. Late Payment Fee** 735 per installment
e. Change of Repayment Account 262.50
f. Extension / Reduction of Tenor 5,250 subject to approval
Property Evaluation Fees
Payable to Emirates Islamic Residential: Bina - AED 3,675 & Manzili – AED 2,625, or as charged
by the evaluator approved by Bank
Commercial: AED 6,300 or as charged by the evaluator approved by Bank
Government Fee
Registration Fee As per the fee tariff of government authorities of respective emirate of UAE
Mortgage Fee As per the fee tariff of government authorities of respective emirate of UAE
Mortgage Release As per the fee tariff of government authorities of respective emirate of UAE

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 inclusive 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.