BEST OFFERS
Employed Resident 3.78% | Self Employed Resident 3.99%
TODAY'S CURRENT EIBOR
On |
3.355620
One Week |
3.649820
One Month |
3.698870
Three Months |
3.719840
Six Months |
3.705170
TWELVE MONTHS |
3.983430
BEST OFFERS
Employed Resident 3.78% | Self Employed Resident 3.99%
TODAY'S CURRENT EIBOR
On |
3.355620
One Week |
3.649820
One Month |
3.698870
Three Months |
3.719840
Six Months |
3.705170
TWELVE MONTHS |
3.983430
Gift Contract
A Gift Contract (Hiba) is the document used in Islamic home finance (Ijarah/lease-to-own) to transfer the property from the bank to the customer at the end of the finance term. Once all payments are completed, the bank transfers ownership to the customer without a sale transaction.
During the financing period, the bank holds the property and leases it to the customer. After all obligations are met, the ownership is transferred through this gift arrangement and registered with the relevant Land Department.
The exact process may differ depending on the bank and the structure approved under its Shariah guidelines.
Best Mortgage Rates in UAE
Updated Daily
Employed Resident
3.78%
Fixed for 2 years
Thereafter
1.89% + 6M EIBOR with a minimum floor rate of 3.24%
Property Insurance - 0.06% p.a.
Life Insurance - 0.035% p.m
Employed Non Resident
4.19%
Fixed for 3 years
Thereafter
1.99% + 3M EIBOR with a minimum floor rate of 2.24%
Property Insurance - 0.05% p.a.
Life Insurance - 0.0102% p.m
Self Employed Resident
3.99%
Fixed for 2 years
Thereafter
1.29% + 3M EIBOR
Property Insurance - 0.035% p.a.
Life Insurance - 0% p.m
Self Employed Non Resident
4.19%
Fixed for 3 years
Thereafter
1.99% + 3M EIBOR with a minimum floor rate of 2.24%
Property Insurance - 0.05% p.a.
Life Insurance - 0.0102% p.m
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