ADCB Meethaq Home Finance Facilities are open to all eligible UAE residents (Nationals and Expatriates) and salaried non-residents

	National Residents	Expatriate Residents	Non-residents
Salaried - Employee	AED 8,000p.m.	AED 10,000 p.m.	AED 25,000 p.m. (US $ equivalent)
Self-employed	AED 10,000 p.m.	AED 20,000 p.m.	AED 25,000 p.m.  (US $ equivalent)

Not necessarily. But you are required to open an ADCB Meethaq current account along with the purchase of property and set up of  your Islamic Home Finance facility.

For further information or to apply for your ADCB Meethaq Home Finance, please call our toll free number on 800 MEETHAQ, click on www.adcbmeethaq.com or visit any one of the ADCB branches across the UAE and one of our Relationship Officers will follow-up on your inquiry within 48 hours.
Alternatively, you may prefer to visit an ADCB Meethaq Relationship Officer at the following development site office:

ADCB Meethaq Home Finance Services Centre (Al Ittihad Branch on Sheikh Zayed Road, Dubai ) anytime between 8.30 am and 5:00 pm, Saturday through Wednesday.

The maximum amount of the facility is up to AED10 million and would vary according to personal circumstances, the nature of the transaction and the property developer involved in the transaction. You can apply for 1 property/unit with ADCB Home Finance.

21 years or older for UAE residents (National / Expatriates).
25 years or more for Non-UAE residents.

ADCB Meethaq offers the most competitive Ijarah profit rates: You can choose the plan that suits you most.
For Ijarah and Forward Ijarah Agreements; Profit Rate is the combination of IRBR + Margin.  IRBR is the Variable Islamic Retail Bank Rate which is announced on a regular basis by ADCB-IBD and is subject to change.

The current IRBR is 5%p.a.

Monthly rental payments are based on the property value amount, tenure and the Ijarah profit option you have selected.

Ijarah wa Iqtina’a  - For completed properties; your rental payment (EMI – equated monthly installment) will be paid each month

Ijarah Mawsoofa Fe-el-Thima – For properties that are still under construction, you will have to pay the monthly advanced rental (pre-EMI) throughout the construction phase and subsequently the EMI as agreed following the completion of the property.

Salaried Residents(Nationals and Expatriates)	Self-employed Residents(Nationals and Expatriates)	Non-residents
1.      Completed application form	Completed application form	Completed application form
2.       Proof of booked property if any	Proof of booked property if any	Proof of booked property if any
3.       Photocopy of passport and visa(UAE National's must provide a copy of their "Khoulaset El Kaid" )	Photocopy of passport and visa(UAE National's must provide a copy of their "Khoulaset El Kaid" )	Photocopy of passport
4.       Bank statements for past six months	Bank statements for past six months for both personal and company accounts	Bank statements for past six months
5.       Salary/On-the-Job Certificate, issued to ADCB - IBD* and dated 30 days or less from date of finance application (*Letter issued by government MOD or MOI accepted)	Proof of existence of business (Partnership Deed, Memorandum of Association, Articles of Association)	Reference letter from Bank in country of domicile
6.       Salary transfer letter (if transferring salary to ADCB- IBD)	Business Profile (details of the nature of the business, number of years in business, products, services, suppliers, clients, infrastructure, number of employees, target markets, assets and liabilities, business strategy)	Mortgage Credit Reports (documents detailing applicants credit history)
7.       Details of existing facilities/liabilities	Proof of business income (certified audited financial statements for the last two years)
	Details of 'other Income' (proof of investments and regular income sources)
	Details of existing facilities/liabilities
Upon Facility approval, all applicants must provide an undated Security Cheque for the Value of the property, drawn on the personal account of the Customer. This cheque is to be signed by the applicant in the presence of the Bank's SRO.

ADCB-IBD does not mandate a life takaful (insurance) policy assignment in order for you to avail Islamic Home finance. For completed properties however, ADCB-IBD  offers competitive property takaful (insurance) rates as an added convenience to its customers.

You will find it heartening to note that there are additional benefits for Home finance applicants who transfer their salary to ADCB - IBD.

For example, with a salary transfer you can be facilitated with up to 85% of the property value for first sale properties, while the maximum finance for those without a salary transfer for first sale
properties is only up to 80% of the property value..

However, you are not obliged to transfer your salary account to us to be eligible for a facility

The maximum tenure for UAE residents (Nationals/Expatriates) is 25 years, while the maximum tenure of 10-years is applicable for non-residents.

ADCB Home Finance can be applied for residential homes and apartments across Dubai, Sharjah and Abu Dhabi which are developed by our select list of developers.

In that case, through the sale proceeds ADCB Meethaq will settle the facility. However, an early discharge fee will be levied.
The charges are as follows:

Early Purchase Charges	Up to 6 months post commencement – No advancing of schedule fixed rental payments allowed.
	Ø                6 months poest commencement – 2% of the outstanding fixed rentals amount. Max. 2 advnaces per annum min. AED25,000 and not to exceed 25% of the outstanding fixed rentals amount in one year.
Full Early Purchase Charges - Own funds	Up to 3 years  - 2% of outstanding fixed rentals amount.
	3 years - 5 years - 1% of ijarah outstanding
	> 5years - NIL
Full Early Purchase Charges - Other Bank	Sale at outstanding fixed rentals amount plus 3% therof.

No part early purchase within 6 months.