Finance
Personal Finance - (Certificates/Shares Murabaha)
| Processing fee* | Charges (in AED) | Frequency | |
|---|---|---|---|
| Certificates Murabaha |
0.7875% of finance amount (Min AED 525, Max AED 2,625)
|
Per Application | |
| Shares Murabaha | 1.05% of finance amount (Min AED 525, Max AED 2,625) | Per Application | |
| Takaful (Insurance) Fees(**) | |||
| Takaful Provider | Rates for up to 5 Years | Cabin Crew & Pilots | |
| Noor Takaful | 0.01194% x Finance Amount x Tenure (months) | 0.01618% x Finance Amount x Tenure (months) | Per Application |
| Arabian Scandinavian Insurance Company (PLC) - Takaful - Ascana Insurance (ASCANA) | 0.01474% x Finance Amount x Tenure (months) | 0.02005% x Finance Amount x Tenure (months) | Per Application |
| Dubai Islamic Insurance & Reinsurance Company(AMAN) | 0.01439% x Finance Amount x Tenure (months) | 0.02025% x Finance Amount x Tenure (months) | Per Application |
| Deal Cancellation Fee | 105 | Per Request | |
| Balance Liability Certificate | 63 | Per Request | |
| Clearence Letter (No Liability Certificate) | 63 | Per Request | |
| 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 | Per Request | |
| Obligated amount to charity (late payment fee)*** | 210 | Per Instance | |
| Early Settlement |
- 1.05% of outstanding balance or max AED 10,500 - (Principal Outstanding x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request | |
| Partial Payment |
- 1.05% of payment made or max AED 10,500 - (Partial Settlement Amount x 1.05% inclusive of VAT) - Payable at the time of partial settlement |
Per Request | |
*Non-refundable post 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.
***The bank shall pay any such amounts on behalf of the customer to a charity approved by the bank's Internal Shariah Committee, after deducting the actual expenses incurred due to customer's delay or default in making the due payment(s).
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
| Processing fee | Charges (in AED) | Frequency |
|---|---|---|
| Salaried and Self Employed individuals | 1.05% of the vehicle finance amount (subject to min. AED 525 and max. AED 2,625 per vehicle financed) |
Per Application |
| Rent-a-Car and companies | 1.05% of finance amount (subject to min. AED 525 per vehicle financed) |
Per Application |
| LMHV (Light Medium Heavy Vehicle) Finance | 1.05% of finance amount (subject to min. AED 525 and max. AED 5,250 per vehicle financed) |
Per Application |
| DDS/Cheque Return Fee (Any DDS/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 | 63 | Per Request |
| No Objection Certificate (NOC) to change number plate/ transfer of registration | Nil | - |
| Obligated amount to charity (Late payment fee)* | 210 | Per Instance |
| Advance payment of installment | 1.05% of installment | Per Request |
| Change of due date on standing instructions | 26.25 | Per Request |
| Early settlement fee | - 1.05% of outstanding Max AED 10,500 - (Outstanding balance x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request |
| EMI deferment charges (Per Request) | 105 | Per Request |
*The bank shall pay any such amounts on behalf of the customer to a charity approved by the bank's Internal Shariah Committee, after deducting the actual expenses incurred due to customer's delay or default in making the due payment(s).
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.
Home Finance
| Charges (in AED) | Frequency | ||
|---|---|---|---|
| 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 |
Per Application | |
| 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 |
Per Application | |
| 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) - (Principal Outstanding x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request | |
| b. Full Settlement – Buyout | - Residential & Commercial Property - 1.05% of outstanding amount (Maximum AED 10,500) - (Principal Outstanding x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request | |
| 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) - (Principal Outstanding x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request | |
| b. Commercial Property | -1.05% of the amount being settled/paid (Maximum AED 10,500) - (Principal Outstanding x 1.05% inclusive of VAT) - Payable at the time of settlement |
Per Request | |
| c. Dewan office settlement | NIL | ||
| d. Sheikh Zayed Housing Programme | NIL | ||
| Cancellation Fees | |||
| a. Cancellation of application before approval | 3,150 | Per Application | |
| b. Cancellation of application by customer after approval by bank | No refund on pre approval fees For full case - AED 3,150 |
Per Application | |
| c. Application declined by Financial Institution | No Charge | - | |
| Takaful (Insurance) Fees(**) | |||
| Takaful Provider | Property Takaful Fees
(On property value p.a.) |
Life Takaful Fees
(On outstanding finance amount p.a.) |
|
| Noor Takaful | 0.0525% | 0.12204% | Per Month |
| Arabian Scandinavian Insurance Company (PLC) - Takaful - Ascana Insurance (ASCANA) | 0.0525% | 0.15072% | Per Month |
| Dubai Islamic Insurance & Reinsurance Company(AMAN) | 0.0525% | 0.14700% | Per Month |
| Letter Fees | |||
| a. Liability Letter addressed to Banks & other Financial Institutions | 89.25 | Per Request | |
| b. Liability Letter addressed to Government Authorities & Charitable Organizations | 89.25 | Per Request | |
| c. Release Letter | 52.50 | Per Request | |
| d. Clearance Letter | 99.75 | Per Request | |
| e. Issuance of NOC | 157.50 | Per Request | |
| f. Request for other letters | 94.50 | Per Request | |
| g. Other certificates | 78.75 | Per Request | |
| Revalidation of Offer Letter Fees | |||
| a. Offer Letter Renewal | 945 | Per Application | |
| b. Pre approval Renewal | 525 | Per Application | |
| c. Change in approval terms | 1,575 | Per Application | |
| Other Fees | |||
| a. Deferment of Installment | 300 per installment | Per Request | |
| b. Change in Installment Recovery Dates | 367.50 | Per Request | |
| c. Non-standard statement production/Copy of original documentation | 105 per document | Per Request | |
| d. Late Payment Fee*** | 735 per installment | Per Instance | |
| e. Change of Repayment Account | 262.50 | Per Request | |
| f. Extension / Reduction of Tenor | 5,250 subject to approval | Per Request | |
| 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 |
Per Application | |
| Government Fee | |||
| Registration Fee | As per the fee tariff of government authorities of respective emirate of UAE | Per Application | |
| Mortgage Fee | As per the fee tariff of government authorities of respective emirate of UAE | Per Application | |
| Mortgage Release | As per the fee tariff of government authorities of respective emirate of UAE | Per Application | |
*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.
**Rates mention are minimum & indicative only. Takaful rate may increase based on outcome of medical tests undertaken through the Takaful provider appointed by the Bank. Takaful coverage period is restricted to the maximum age criteria defined under the Policy issued by the Takaful provider appointed by the Bank.
***The Bank shall pay any such amounts on behalf of the customer to a charity approved by the Bank's Internal Shariah Committee, after deducting the actual expenses incurred due to customer's delay or default in making the due payment(s).
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.