DIB Non-Resident Program in UAE - Check Fees and Charges

Q: How to contact Dubai Islamic Bank in case of any queries related to their home loan?

You can get in touch with the bank authorities by dialling +971 4 609 2222.

Founded in 1975, Dubai Islamic Bank (DIB) is a leading financial institution in the UAE. As a Sharia-compliant bank, DIB adheres to Islamic principles of finance and provides its customers with a unique approach to banking.

Table of Content

Features and Benefits of the DIB Non-Resident Program
DIB Non-Resident Program: Fees and Charges
How to Apply for DIB Non-Resident Program in UAE?
Dubai Islamic Bank Home Loan Calculator
DIB Non-Resident Program - Terms and Conditions
Why Choose DIB Non-Resident Program?
FAQ's

DIB's mortgage finance product is designed to cater to the diverse needs of customers, providing flexible repayment terms, competitive profit rates, and a simplified application process. Whether you are a UAE national or a non-resident looking to invest in property, DIB mortgage loan offers a reliable and transparent means of achieving your dream of owning a home.

In this article, we will specifically focus on DIB Non-Resident Program and provide you with all the relevant details about the same.

Features and Benefits of the DIB Non-Resident Program

Here are the major benefits of the DIB Non-Resident Program -

The bank offers high financing amounts.
The profit rates are competitive for this home loan product.
You get flexible tenure to pay off your loan.
The loan application process is quick and convenient.
You do not have to transfer your salary to a DIB account.

DIB Non-Resident Program: Fees and Charges

Check out the table below for the fees and charges associated with the DIB Non-Resident Program in the UAE -

Type of Fee	Charges
Early Settlement Charges (Ijara)	1.05% of the outstanding amount or AED 10,500 (whichever is lower)
Partial Settlement Charges (Ijara)	1.05% of the outstanding amount or AED 10,500 (whichever is less)
Early Settlement Charges (Forward Ijara)	1.05% of the outstanding amount or AED 10,500 (whichever is lower)
Early Settlement Charges (Murabaha)	1.05% of the outstanding amount or AED 10,500 (whichever is less)
Processing, Due Diligence, and Documentation Fee (Forward Ijara)	1.05% of the finance value - to be collected in full at the acceptance stage Minimum - AED 5,250 Maximum - AED 105,000 Maximum - 3,675 (Staff) UAE Government Housing Flat Fee - AED 10,500 50% discount for Wajaha customers
Processing, Due Diligence, and Documentation Fee (Murabaha)	1.3125% of the finance Value (0.3125% to be collected at the application stage and 1% to be collected at the acceptance stage) Minimum - AED 5,250 Maximum - AED 26,250 UAE Government Housing Flat Fee - AED 15,750 50% discount for Wajaha customers
Processing, Due Diligence, and Documentation Fee (Ijara - Equity Release/ Non-Resident)	1.3125% of the finance value to be collected in full at the acceptance stage Minimum - AED 5,250 Maximum - No limit Max - AED 3,675 (Staff) 50% discount for Wajaha customers
Processing, Due Diligence, and Documentation Fee (Ijara - Commercial/ Non-Resident)	1.05% of the finance value to be collected in full at the acceptance stage Minimum - AED 5,250 Maximum - No limit Maximum - AED 3,675 (Staff) 50% discount for Wajaha customers
Processing, Due Diligence, and Documentation Fee (Ijara - Residential)	1.05% of the finance value to be collected in full at the acceptance stage Minimum - AED 5,250 Maximum - AED 105,000 (not applicable for non-residents) Maximum - No limit (non-resident) Max - AED 3,675 (staff) Flat fee of AED 7,875 for MBRHE cases 50% discount for Wajaha customers
Increase/ Decrease in Payment Tenure for Ijara	AED 1,050
Change in Type of Registration (Ijara to Mortgage)	AED 525
Addition/ Deletion of Applicants Name	AED 2,625
FOL Renewal Charges	AED 5,250 for Murabaha Nil for Ijara
Documents Review Fee By External Evaluation Company	AED 1,000 - First Submission AED 500 - Re-Submission
Urgent Transfer Processing Request	AED 3,150 (at acceptance)
Evaluation Fees	AED 2,500 (or as charged by the evaluation agent)
Cancellation of Request Prior to Approval	AED 1,075 of due diligence and documentation fee to be retained and remaining to be refunded for Ijara 50% refund to be allowed for Murabaha
Pre-Approval Fee	AED 1,575 (to be adjusted against total processing due diligence and documentation fee)
Declined	AED 1,075 of processing, due diligence, and documentation fee to be retained and remaining to be refunded
Cancellation By Customer After Approval	No Refund

How to Apply for DIB Non-Resident Program in UAE?

You can apply for the DIB Non-Resident Program in the UAE via any of the following modes -

Via Policybazaar.ae

Click on the ‘Banking Products’ menu on our website’s homepage.
Select ‘Home Loans’.
Fill out the lead form to view the relevant quotes page.
On the home loan quotes page, select your desired home loan product.
Apply and proceed with the on-screen commands.

Via Bank’s Website

Open DIB’s official website.
Click on the ‘Finance Your Home’ menu.
Locate ‘Government Housing Schemes’ from the list of products.
Click on the ‘Apply Now’ button.
Enter all the required information and continue with your application as prompted.

Via Offline Means

You can also apply for DIB home finance by visiting your nearest branch of the bank, where one of the officials will assist you throughout the process. Make sure to keep all the essential documents handy to avoid any later hassles.

Check Home Loan Eligibility in UAE

Dubai Islamic Bank Home Loan Calculator

Dubai Islamic Bank online home loan calculator is a valuable tool for individuals seeking to purchase a property. This calculator provides an estimate of the potential monthly mortgage payments based on various loan parameters, such as loan amount, interest rate, and loan term.

By using this tool, you can assess the plan’s affordability, plan your finances, and determine the most suitable finance product. The calculator allows you to compare various loan options, which can help you make informed decisions that align with your financial goals. Additionally, the online home loan calculator provides transparency and convenience.

Here’s how you can use the DIB home loan calculator -

Visit the official DIB website.
Click on the ‘More’ drop-down menu.
On the next page, click on the ‘Finance Calculator’ option under ‘Tools’.
Provide all the necessary details and get your auto-generated result within seconds.

DIB Non-Resident Program - Terms and Conditions

Here are a few terms and conditions of the DIB Non-Resident Program -

The customer shall provide the bank with an irrevocable, binding purchase undertaking, obligating the customer to purchase the property from the bank, at the exercise price, upon the bank exercising the purchase undertaking in the event of a default.
DIB, as the owner of the property, will be responsible for all associated risks and rewards. However, it will appoint the customer as a service agent to act on its behalf with regard to obtaining Takaful cover and other ownership duties under a service agency agreement.
Upon completion of the lease term and the fulfilment of all its obligations under the lease agreement, the customer may invoke the sale undertaking provided by DIB at the start of the agreement. This will enable the customer to purchase the property from DIB for a nominal value. To officially conclude the transaction, a sale and purchase agreement must be signed between the two parties.
The bank will also provide a sale commitment to the customer, agreeing to sell the property to them at a minimal cost upon the completion of the lease agreement.

Visit the official website of Dubai Islamic Bank to know the terms and conditions in detail.

Why Choose DIB Non-Resident Program?

Dubai Islamic Bank's Non-Resident Home Loan is a reliable option for individuals looking to invest in property in the UAE. This non-resident home loan product is specifically designed to cater to the needs of overseas customers, providing flexible repayment terms, competitive profit rates, and an easy application process. Moreover, DIB's experienced team of professionals is committed to providing exceptional customer service, ensuring that borrowers are supported throughout the loan process.