Emirates Islamic Bank P.J.S.C. Fee

At the heart of the Emirates Islamic experience is a dedication to the customer, who sits at the heart of the bank. Our customers are our partners, we work together to ensure that we deliver the best results for them and for the bank. By utilizing Islamic financing tools like Murabaha, Ijarah and Takaful, we reduce the uncertainty in transactions and provide solutions that are right for our customers, whether they are an individual looking to save or a large corporation searching for a long term partner.

Personal Finance – (Certificates/Shares Murabaha)

Processing fee*Charges (in AED)Frequency
Certificates Murabaha0.7875% of finance amount (Min AED 525, Max AED 2,625)Per Application
Shares Murabaha1.05% of finance amount (Min AED 525, Max AED 2,625)Per Application
Takaful (Insurance) Fees(**)
Takaful ProviderRates for up to 5 YearsCabin Crew & Pilots 
Noor Takaful0.01194% x Finance Amount x Tenure (months)0.01618% x Finance Amount x Tenure (months)Per Application
Arabian Scandinavian Insurance Company (PLC) – Takaful – Ascana Insurance (ASCANA)0.01474% x Finance Amount x Tenure (months)0.02005% x Finance Amount x Tenure (months)Per Application
Dubai Islamic Insurance & Reinsurance Company(AMAN)0.01439% x Finance Amount x Tenure (months)0.02025% x Finance Amount x Tenure (months)Per Application
Deal Cancellation Fee105Per Request
Balance Liability Certificate63Per Request
Clearence Letter (No Liability Certificate)63Per Request
DDS/Cheque Return Fee (Any DDS/cheque deposited with the Bank to pay the monthly installment returned unpaid)0
Deferment of InstallmentAED 105 per installmentPer Request
Obligated amount to charity (late payment fee)***210Per Instance
Early Settlement– 1.05% of outstanding balance or max AED 10,500
– (Principal Outstanding x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
Partial Payment– 1.05% of payment made or max AED 10,500
– (Partial Settlement Amount x 1.05% inclusive of VAT)
– Payable at the time of partial settlement
Per Request

*Non-refundable post approval.
**Rates mentioned are minimum & indicative only. Takaful rate may increase based on outcome of medical tests undertaken through the Takaful provider appointed by the Bank.
***The bank shall pay any such amounts on behalf of the customer to a charity approved by the bank’s Internal Shariah Committee, after deducting the actual expenses incurred due to customer’s delay or default in making the due payment(s).
All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT). The Customer hereby agree to pay an amount in respect of any applicable VAT.

Vehicle Finance

Processing feeCharges (in AED)Frequency
Salaried and Self Employed individuals1.05% of the vehicle finance amount
(subject to min. AED 525 and max. AED 2,625 per vehicle financed)
Per Application
Rent-a-Car and companies1.05% of finance amount
(subject to min. AED 525 per vehicle financed)
Per Application
LMHV (Light Medium Heavy Vehicle) Finance1.05% of finance amount
(subject to min. AED 525 and max. AED 5,250 per vehicle financed)
Per Application
DDS/Cheque Return Fee
(Any DDS/cheque deposited with the Bank to pay the monthly installment returned unpaid)
0
DDS cancelation/amendment to amend/change payee bankNil
Issuance of liability letter to other banks63Per Request
No Objection Certificate (NOC) to change number plate/ transfer of registrationNil
Obligated amount to charity (Late payment fee)*210Per Instance
Advance payment of installment1.05% of installmentPer Request
Change of due date on standing instructions26.25Per Request
Early settlement fee– 1.05% of outstanding
– (Outstanding balance x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
EMI deferment charges (Per Request)105Per Request

*The bank shall pay any such amounts on behalf of the customer to a charity approved by the bank’s Internal Shariah Committee, after deducting the actual expenses incurred due to customer’s delay or default in making the due payment(s).
All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT). The Customer hereby agree to pay an amount in respect of any applicable VAT.

Home Finance

Charges (in AED)Frequency
Arrangement Fees
Pre approval feesAED 1,575 for Bina’a – Salaried
AED 2,625 for Bina’a – Self Employed
AED 1,050 for Manzili – Salaried & Self Employed
Per Application
Processing fees1.05% of the finance amount with no cap for all cases
Fee can be deducted from Equity release amount (Optional)
For Buyout with Equity Release, 1.05% of equity release amount
Per Application
Prepayment Fees (Pre Purchase of Leased Asset)
Under Construction/Completed Property (Salaried Individuals & Self Employed Individuals)
a. Full settlement – Own funds– Residential Property – 1.05% of outstanding amount (Maximum AED 10,500)
Commercial Property – 1.05% of outstanding amount (Maximum AED 10,500)
– (Principal Outstanding x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
b. Full Settlement – Buyout– Residential & Commercial Property – 1.05% of outstanding amount (Maximum AED 10,500)
– (Principal Outstanding x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
c. Dewan office settlementNIL 
d. Sheikh Zayed Housing ProgrammeNIL 
Partial Settlement (Under Construction/Completed Property)
a. Residential Property– 1.05% of the amount being settled/paid (Maximum AED 10,500)
– (Principal Outstanding x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
b. Commercial Property-1.05% of the amount being settled/paid (Maximum AED 10,500)
– (Principal Outstanding x 1.05% inclusive of VAT)
– Payable at the time of settlement
Per Request
c. Dewan office settlementNIL 
d. Sheikh Zayed Housing ProgrammeNIL 
Cancellation Fees
a. Cancellation of application before approval525Per Application
b. Cancellation of application by customer after approval by bankNo refund on pre approval fees
For full case – AED 3,150
Per Application
c. Application declined by Financial InstitutionNo Charge
Takaful (Insurance) Fees(**)
Takaful ProviderProperty Takaful Fees
(On property value p.a.)
Life Takaful Fees
(On outstanding finance amount p.a.)
 
Noor Takaful0.0525%0.12204%Per Month
Arabian Scandinavian Insurance Company (PLC) – Takaful – Ascana Insurance (ASCANA)0.0525%0.15072%Per Month
Dubai Islamic Insurance & Reinsurance Company(AMAN)0.0525%0.14700%Per Month
Letter Fees
a. Liability Letter addressed to Banks & other Financial Institutions89.25Per Request
b. Liability Letter addressed to Government Authorities & Charitable Organizations89.25Per Request
c. Release Letter52.50Per Request
d. Clearance Letter99.75Per Request
e. Issuance of NOC157.50Per Request
f. Request for other letters94.50Per Request
g. Other certificates78.75Per Request
Revalidation of Offer Letter Fees
a. Offer Letter Renewal525Per Application
b. Pre approval Renewal525Per Application
c. Change in approval terms1,575Per Application
Other Fees
a. Deferment of Installment300 per installmentPer Request
b. Change in Installment Recovery Dates367.50Per Request
c. Non-standard statement production/Copy of original documentation105 per documentPer Request
d. Late Payment Fee***735 per installmentPer Instance
e. Change of Repayment Account262.50Per Request
f. Extension / Reduction of Tenor1,575 subject to approvalPer Request
g. Administration Fee for Property Replacement (Swap)1,386Per Application
Property Evaluation Fees
Payable to Emirates IslamicResidential: Bina – AED 3,675 & Manzili – AED 2,625, or as charged
by the evaluator approved by Bank
Commercial: AED 6,300 or as charged by the evaluator approved by Bank
Per Application
Government Fee
Registration FeeAs per the fee tariff of government authorities of respective emirate of UAEPer Application
Mortgage FeeAs per the fee tariff of government authorities of respective emirate of UAEPer Application
Mortgage ReleaseAs per the fee tariff of government authorities of respective emirate of UAEPer Application


*The Bank reserves the right to change the above Bank pricing at any point of time and thus the above rates are applicable as of date. Charges will be levied as applicable at the time of the transaction & as determined at the sole discretion of the bank and after announcing it.
**Rates mention are minimum & indicative only. Takaful rate may increase based on outcome of medical tests undertaken through the Takaful provider appointed by the Bank. Takaful coverage period is restricted to the maximum age criteria defined under the Policy issued by the Takaful provider appointed by the Bank.
***The Bank shall pay any such amounts on behalf of the customer to a charity approved by the Bank’s Internal Shariah Committee, after deducting the actual expenses incurred due to customer’s delay or default in making the due payment(s).
All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT).

Please note that there may be additional charges which are to be paid to the developer according to the tariff of the Developer.