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Tamweel Home Finance Products

Tamweel Home Finance Products

Tamweel offers a wide range of products and each one has been designed keeping individual needs in mind, especially the need for stability and peace of mind - as a result, Tamweel became the first home finance company in the UAE to offer both fixed and flexible rate financing.

All of Tamweel's home finance products are fully Sharia'a compliant and have been approved by Dubai Islamic Bank's Sharia'a Board. The products are designed to be flexible and can easily be adapted to suit specific needs

The Home Owner product, which is a Murabaha contract, offers financing for any kind of apartment or villa chosen from any one of Tamweel's approved builders, with a fixed profit rate through out the financing term.

Flexi Rent to Own, an Ijarah contract, is an option is for those individuals who are looking for easy installments with a flexible profit rate at the end of which they can take ownership of their home. This product provides the flexibility of a variable rate of profit, enabling home buyers to make the most of the low profit rates prevailing from time to time.

Fixed Lease to Own is a product with a fixed profit rate throughout the financing term. This ensures peace of mind, stability better control of one's finances. The Fixed Lease to Own is an Ijarah contract.

For those individuals who are looking to buy a home in a project under construction, Tamweel can provide financing for the construction of an apartment or villa by one of its approved builders. The Home Builder product, which is an Istisna'a contract, offers both fixed and flexible profit rates.

Islamic Financing Techniques


A 'Murabaha' is essentially a deferred payment contract, where the 'buyer' identifies the property he/she wishes to purchase and agrees upon a price with the vendor. Once the purchase of the property has been approved by the 'financier', the 'financier' will purchase the property in its name and resell it to the 'buyer' against either immediate or deferred payment. The 'financier' is entitled to profit, which is the difference between the price it pays to the vendor, and the price at which it re-sells to the 'buyer'. Here at Tamweel, our 'Home Owner' product uses the Murabaha mode of Islamic financing for sale on deferred payment / installment payment terms.


The term 'Ijarah' means 'to give something on rent' or to transfer the 'right to use' of a property to another individual in exchange for rent claimed from him/her. 'Ijarah' is like a conventional operating lease, where the 'buyer' identifies the property he/she wishes to purchase and agrees upon a price with the vendor. Once the purchase of the property has been approved by the 'financier', the 'financier' will purchase the property in its name and lease it to the 'buyer' for a specified monthly (or otherwise) rental payment and lease term. At the end of the leasing term, the financier promises to transfer the title of the property to the customer, once all repayments have been made as per the agreement. 'Flexi Rent to Own', 'Fixed Lease to Own and 'Yusr' are types of Ijarah contracts.


'Istisna'a' mortgages are financial products widely used by Islamic banks to finance the construction of buildings and/or industrial assets. Under Istisna'a, the price is fixed with the consent of the parties and the specification of the house or building to be constructed, is fully agreed upon. If the customer has his/her own land and he/she seeks financing for the construction of a house, the financier may undertake to construct the house on that open land, on the basis of 'Istisna'a'. If, however, the customer has no land and wants to purchase the land, the financier may undertake to provide him/her a constructed house on a specified piece of land.


- Age:
21 years (minimum)
60 years (maximum) upon maturity of financing

- Income / Salary:

Individual Applicants: AED 10,000/- per month
Joint Borrowers: AED 12,000/- per month (total household income)
(subject to a minimum income of AED 8,000/- for one of the co-borrowers)

- Employment Status:

Salaried Applicants: Confirmed employment for at least 1 year (5 years for overseas residents)
Self-employed Applicants: Operating and profitable for the last 2 years (5 years for overseas residents)

General Financing Terms

- Finance Amount:
AED 180,000/- (minimum)
- Down Payment:
20% (minimum)
(down payment percentage may vary depending upon the product selected)

- Term of Financing

Minimum:5 years
Home Owner:15 years (fixed rate)
Home Builder:25 years for flexible rate
15 years for fixed rate

Flexi Rent to Own:25 years (flexible rate)
Fixed Lease to Own:15 years (fixed rate)

- Mode of Payment: Monthly post-dated cheques
Unique Rate Switch Option:
Customer may switch from a fixed to a flexible rate (or vice versa) once in every 3 years
(0.5% of the outstanding principal amount is charged for this facility)

- Processing and Arrangement Fee:
1.25% of the finance amount (maximum of AED 10,000)
(To be paid in two installments: 0.5% of the finance amount is due upon approval, and the remaining 0.75 % of the finance amount prior to disbursal)

- Other charges payable are:
Mortgage and Registration Fee: As required by the Dubai Land Department
Insurance (Life and Property): At special rates for Tamweel customers
Management Fee: May be applicable for products with special low profit rate offers

At Tamweel, we have a very simple application process:

1. Submit your application form to Tamweel, along with your documents required and processing fees
2. Sign and return your offer letter (subject to approval from Tamweel)
3. Complete your disbursement documents

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