Tamweel

IRAD

Irad buy-to-let programme from Tamweel is a Sharia compliant investment product which offers you finance up to 75% of your property’s market value. It also enables you to benefit from your current and future rental income. In simpler terms, your rental returns will pay for your finance. And to sum it up, a new world of opportunities has opened up.

Irad Features

Benefit from current and future rental income
Get up to 75% finance of the value of your property
Applicable to "ready" freehold & non-freehold properties
Applicable to residential and commercial properties (Labour camps and warehouses not included)
Applicable to fully owned properties
Applicable to already rented properties and to properties that have a future rental potential
Repayment tenure of up to 25 years for residential and 10 years for commercial properties
Flexible profit rate
Finance is available to residents only

OUR ADVANTAGES

Unique pre-approval services
Fixed & flexible profit rate options
No rent assignment
No salary transfer required
Sharia compliant
Approval in 48 hours

Some products may not be available at this time. To check current product offering, please contact our Call Centre on 800-TAMWEEL or visit one of our branches.

SHARIA COMPLIANCE

All our products are Sharia compliant. This product is based on an Ijara concept, wherein the financier leases the asset to the customer in return for rental payment for a specified financing period. The financier promises to transfer the title of the asset to the customer at the end of the financing period if all payments have been made.

Let your rental income pay
for your finance

FREQUENTLY ASKED QUESTIONS

Which properties are applicable for Irad?
$0Irad is applicable for all Tamweel approved “ready” residential and commercial properties. It is also applicable for properties that are fully owned by the customer (free of lien).$0
Is Irad available for warehouses and labour camps?

No, we will not be offering Irad for warehouses and labour camps. Irad is only applicable for residential properties and commercial office blocks.
If a property is currently not being rented, is it eligible for Irad?

Yes. The expected rental income will be based on the rental yield evaluation. The rental yield evaluation will be conducted by an approved third party evaluator.
What is the evaluation fee for property and rental evaluation?

The evaluation is provided by a third party evaluator which is approved by Tamweel. The evaluator’s fee is approximately AED 3,000 for property plus rental evaluation.
Is Irad available for near-ready properties (1-3 months)?

No, Irad is available only for ready properties.
Is Irad applicable for Non-Resident Expatriates?

No, Irad is not applicable for non resident customers.
What is the benefit of Irad for existing rental property owners (free of lien)?

Irad allows customers to use our existing Soyoula product for their additional liquidity needs.
Is Yusr being offered under Irad?

No, Yusr is not applicable under Irad.
What is the requirement for clients that do not have a steady stream of income?

In addition to the property documents and tenancy contract, we require 12 months of bank statements from your personal bank account.
What is the processing fee for Irad?

The processing fee is 1.25% of the finance amount for residential properties with a cap of AED 17,000 for Salaried Individuals and AED 35,000 for Self-Employed.
The processing fee for commercial properties is 1.50% of the finance amount.
How long can the term of financing be?

We can provide financing up to 25 years for residential properties and up to 10 years for commercial properties.
Can I repay my financing early?

Yes, you may repay your financing early. Our finance advisors are available to advise you on how to minimize your prepayment costs. As this is a Sharia'a compliant offer, you do not have to pay penalty charges for prepayment - only a charge based on the actual prepayment cost will be payable by you.
Do I need insurance, and if so, what kind?

Yes, at Tamweel, we require "Property Takaful", as well as "Family Protection Plan". As part of our service, we have an alliance with Salama Insurance to provide Sharia'a compliant Family Protection Plan at very competitive rates for all our customers.
What are the additional documents required as opposed to a standard Ijara?

In addition to the standard documentation, we require the tenancy contract of the property that has already been given on rent.

Note

All prices and details are subject to change without prior notice. Please check with our finance advisor for updated information.
All finance facilities are granted at the sole discretion of Tamweel PJSC.
Terms and Conditions

LEARN MORE

To learn more about Irad, give us a call on 800-TAMWEEL or fill out an application.

Click here To download the Tamweel Irad leaflet.

Click here To download the tariff card.

Click here To download the application form.

PRODUCT FINDER

Forward Ijara - For homes under construction
Begin Repayments Only After Possession Don’t worry about paying rent and home installments at the same time with Forward Ijara. Forward Ijara provides financing to buy a property during its construction. For even more convenience, your payments don’t start until one month after construction is completed! Forward Ijara financing is available for a wide array of developers.
Flexi Ijara - Payments on a flexible profit
Looking for some flexibility? Make payments on a flexible profit basis
Fixed Ijara - Payments on fixed profit
Keep your Mind at Ease With Fixed Ijara financing, we ensure your profit rate remains fixed on ready property throughout the finance tenure. This option helps you plan your budget – and ensures your complete peace of mind.
Pre-Approval Finance Facility - Finance approval before selection of a home
Want to start your home search with confidence? Get approval before selecting a home.
Yusr - Adjustable Repayment Mortgage for up to 3 years
Make Home Owning More Affordable Yusr, the world's first Sharia compliant Adjustable Repayment Mortgage, enables you to pay up to 30% lower monthly installments in the initial years for any ready property. Yusr is an affordable way to enter the property market.
Baiti - A product specially designed for UAE/GCC Nationals
Make Home Owning More Affordable Baiti is exclusively designed for UAE or GCC nationals to help them buy or build their own home. It offers finance up to AED 7.5 million. Baiti is available both for existing properties and properties under construction on private land, with a tenure of up to 25 years.
Soyoula - Home refinance programme
If you’re already a home owner, you no longer have to sell your home to enjoy its worth. With Soyoula, Home Refinance Programme - exclusively from Tamweel - you can get up to 75% of the value of your home as finance. You’re free to use the finance for a second home, yacht, stock investments, children’s education - or anything else you might have wished for. With Soyoula… it’s now within your reach!
48 Hours - Finance approval in 48 hours
Need a fast response? We’ll process your home finance application within 48 hours.
Irad - Buy-to-let programme
Looking for a unique investment? Try our buy-to-let programme which offers you finance up to 75% of your property’s market value.
Commercial Ijara - Ready property financing
A Commercial Ijara is suitable for the purchase of warehouses, complexes, retail office space, shops, or financing of 4 or more properties (commercial deal).
Commercial Land Murabaha - Land financing
Land Financing from our approved list of developers.
Commercial Forward Ijara - Under construction property financing
Finance facility for customers buying an office block or retail shop in an under construction project by one of our approved developers.