Navigating Interest Rates in the UAE

Interest rates in the UAE can vary significantly between banks and are influenced by your individual profile, whether you are salaried or self-employed. We guide you through the rate options available and help you find the most favorable terms tailored to your financial situation.

Financing Options for Non-Residents

If you're a non-resident, you can still secure financing in the UAE, typically up to 60% of the property value, with interest rates starting from 3.99% for a 3-year fixed rate. Our team will assist you in understanding the specific requirements and options available based on your profile.

Minimum Deposit Requirements

Understanding deposit requirements is crucial.

For first-time buyers:

• Expat residents: 20%

• UAE nationals: 15%
   

For second-time buyers:

• Expat residents: 40%

• UAE nationals: 35%

Some banks offer exceptions, allowing lower deposits if your existing mortgage is under 60% Loan-to-Value (LTV). We can help you explore these options and find the best solution for your needs.

Required Documentation

The documentation required varies based on your employment status:
 

• Salaried Applicants: ID documents, salary certificate, 6 months' payslips, 6 months' bank statements, and details of existing liabilities.

• Self-Employed Applicants: ID documents, company documents (e.g., trade license, incorporation documents, shareholder certificate), audited accounts or 12 months' business bank statements, 6 months' personal bank statements, and details of existing liabilities.
   

We ensure you have a clear understanding of the documents needed and assist you in gathering and submitting them efficiently.

Pre-Approval Timeline

The time to get pre-approval can vary by bank. Typically, initial observations and requests are provided within 2 working days. Once you submit additional documents or address any questions, pre-approval is usually granted within 5-7 working days. We streamline this process to ensure a prompt and smooth experience.

Our Expertise

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• SME & Corporate Finance Arrangement Advisory: We offer guidance on various financing options, including Cash Loans, POS Finance, Invoice Discounting, PDC Discounting, Trade & Working Capital, Construction Finance, and Contracting Finance, catering to amounts from AED 500K to AED 500M and beyond.

• Cash Management Advisory: Effective cash flow management is vital for businesses. Our advisory services help you optimize your cash management strategies.

• Vessel Financing: We specialize in financing solutions for maritime ventures, assisting you in navigating the complexities of vessel financing.

At Magnus Advisory, we are committed to providing expert guidance and tailored solutions to meet your financial needs and goals.