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Home Finance

Home Finance is the most flexible, affordable and easiest way to finance the purchase of property in Abu Dhabi, Dubai and Ras Al Khaimah.

  • Variable Rate from Day 1 starting 3M EIBOR + 1.20% to 3M EIBOR + 1.99% reducing p.a.
  • Attractive option of 3 Years Fixed Rates for Salaried and Self-employed customers starting from 5.09% p.a. to 5.39% reducing rate p.a. Follow on rates after expiring the fixed rate period starting from 3 months EIBOR + 1.79% to 3 months EIBOR + 2.19%
  • No In Principle Approvals (IPA) fees
  • 0% Processing Fee for Buyout loans
  • 0.50% Finance Processing Fee for Salaried Customers and 0.75% for Self Employed Customers
  • Special discounted evaluation fees of AED 1,850 
  • Attractive discounts on Life Takaful at 0.0242% p.m. + VAT as applicable
  • Low and affordable Home Finance variable rental rates
  • Finance available on most ready projects with Title Deeds
  • Minimum formalities and fast approvals
  • High Finance amounts

RAKislamic is committed to providing you with the knowledge and tools necessary to ease the entire home buying procedure and to make buying a home in Abu Dhabi, Dubai and Ras Al Khaimah as stress free and convenient as possible.

Please spend a few minutes browsing our fredquently asked questions for essential information on Home Finance.

For more information on our latest offers, please call us on 04 - 213 00 00 or email us at [email protected]

Home Finance Centres are available at the following locations:

  • Abu Dhabi: Al Jazeera Sports & Cultural Club
  • Dubai: Um Hurrair Branch (Diagonally opposite Burjuman Centre), Emaar Business Park Branch
  • If you fail to make any payment due under the Finance or otherwise breach our terms, you will lose the vehicle mortgaged to the Bank as a result of the mortgage enforcement proceedings that we may take.

You need to:

  • Pay all installments and other amounts due on the due dates without delay.
  • Review this document and all other terms & conditions set out in the application form in detail.
  • Regularly check our website (www.rakbank.ae) for updates.
  • Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form.
  • Notify the Bank in writing if you wish to prepay your Finance prior to its maturity.
  • The Bank may amend the features, fees, charges, terms & conditions of the Finance with prior notice of 60 days to you.
  • The Bank may amend the profit rates for the Finance on 30 days’ notice to you in advance.

Important Information:

EIBOR Rates are updated four times a year on the first Business Day of every January, April, July and October months if your Mortgage Finance is based on 3 Months EIBOR + Margin. For Finances based on 6 and/or 12 Months EIBOR + Margin, rates are updated two times a year on the first Business Day of every January and July months. Communication is sent to you post the change in EMI on account of change in applicable EIBOR Rate. 

To know more about the EIBOR Rate or to know the EIBOR Rate movements please refer to: https://www.centralbank.ae/en/forex-eibor/eibor-rates 



  • If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described in the Service & Price Guide. 
  • If you are late in payment or fail to make a payment on the due date, you will pay default profit at the rates described in the Service & Price Guide.
  • If you fail to make a payment or otherwise breach the Finance terms, this will be a default and the Bank will be entitled, among other things, to:
    • (a) cancel the Finance and demand full repayment immediately
    • (b) report the default to the appropriate regulatory authorities including the UAE Central Bank and Al Etihad Credit Bureau and credit rating agencies, which will affect your credit rating
    • (c) bring legal proceedings against you and repossess the mortgaged property.
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