Emirates Islamic Bank liberalizes its home mortgage policy
- United Arab Emirates: Tuesday, April 19 - 2011 at 14:30
- PRESS RELEASE
Emirates Islamic Bank announced significant changes to their home mortgage policy. The revision will help end users increase ability to enter the property market at very competitive terms including profit rates, etc.
With the new package, EIB will be offering reduced rates as low as 5.45% p.a. on reducing balance, and open new segments such as self employed, relaxed length of service for employees based on their salary, including buy out campaigns, special offerings for Sheikh Zayed housing program and those involved with the Mohamed Bin Rashed housing project.
"There have been noticeable development in the housing market over the last year and everyone involved in the property market has needed to evolve and properties now have very competitive valuation. As such, we would like to facilitate to customers who are interested in owning their dream home. We also believe that our competitive offering will support the growing interest for housing in the UAE," said Mr. Faisal Aqil, GM Retail Banking for Emirates Islamic Bank.
EIB home finance packages are based on Shariah compliant banking principles and tailored to suit all financial and personal needs providing customers with unique benefits and advantages. The revised pricing structure is subject to terms and conditions and further details are available in all Emirates Islamic Bank branches.
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