Effective March 1, 2008
The following terms and conditions govern the rules of Tamweel financing.
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Eligibility |
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Age:
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21 years (minimum)
65 years (maximum) upon maturity of financing |
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Income / Salary:
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AED 30,000 per month
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Employment Status:
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Salaried Applicants: Confirmed employment for at least 1 year
Self-employed
Applicants: Operating and profitable for the last 3 years
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General Financing Terms |
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Finance Amount:
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Up to AED 25 million |
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Down Payment:
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20% (minimum)
(down payment percentage may vary depending upon the product selected) |
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Term of Financing (Tenure):
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Minimum: 2.5 Years
Maximum: 10 Years
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Mode of Payment:
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Monthly post-dated cheques or Standing Instructions from your salary account |
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Processing and Arrangement Fee:
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1.50% of the finance amount
(To be paid in two installments: 0.5% of the finance amount is due upon application submission, and the remaining 1 % of the finance amount is due upon offer letter acceptance)
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Other charges payable are:
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Land Registration Fee: As required by the Land Department
Insurance (Life and Property): At special rates for Tamweel customers
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Click here to download Finance Documentation Checklist
Click here to download our Tariff Card