Customers are offered the option to choose between three, six, 12 or a fixed EIBOR rate and review period.
Having conceptualised the proposition in November 2017, Dubai Islamic Bank (DIB) has launched a new home finance product called MyHome. The offering is a ‘one stop shop’ to meet a customer’s entire home finance related needs. It offers the widest range of profit rates in the UAE market giving customers greater choice and flexibility throughout the life of their home finance.
The product lets the customer choose their monthly repayment schemes from between three, six or 12 months EIBOR rate and review period, lifetime fixed rates (typically between five to nine per cent and can be changed at a future time), a combination of both, an option of an introductory rate, or a variable or fixed margin for life.
Complimentary to this, customers are also offered a Takaful solution for the home financing which covers the property as well as the borrower, with an option to extend the coverage to their family, home contents, home assistance as well as the availability of an education fund.
Being the largest home finance provider in the country, DIB boasts this to be the most compelling mortgage proposition in the market.