ADCB (Abu Dhabi Commercial Bank) Mortgages – Rates, Fees & FAQ

Current rates: 4.35%–5.95% variable (EIBOR-based). Islamic mortgage option available (Sharia-compliant). Rates tied to EIBOR; adjust monthly/quarterly. Average rate: ~5.15% for qualified borrowers. Consult bank for individual pre-approval rate.

Processing fee: AED 2,000. Valuation fee: ~AED 1,000. Legal/documentation: ~AED 500. Mortgage registration (DLD): 0.4% of loan amount. Total closing costs: ~AED 3500/property purchase. No penalty after 2 years

Early settlement policy: No penalty after 2 years. Penalty: None after 1–2 years. Benefit: Save on interest (AED 300K+ on 20-year loans). Prepayment: Most banks allow extra installments without penalty.

Minimum salary: AED 4,500/month for residents. Non-residents: often higher (~AED 10K+). Monthly payment-to-income ratio: typically max 30–40%. For AED 2M property (80% LTV, 20 years, 5% rate): monthly payment ~AED 11K; requires salary ~AED 30K+.

Maximum LTV: 80%. Down payment required: 20%. First property: typically easier approval. Second property: lower LTV (~75%). Non-residents: lower LTV than residents (check terms). Loan amount capped at 4–5x annual salary.

Strengths: Competitive fixed rates for 3–5 year terms; Excellent customer service and relationship management. Pre-approval turnaround: 7 days. Market position: Major player with stable rates and reliable service. Mobile app: Convenient for account management.

Potential cons: Slower pre-approval process than Emirates NBD; Less flexible for non-standard income types. Processing time: 10–10 days for full approval. Documentation: Extensive; ensure complete file to avoid delays. Comparison: Compare rates with FAB, Mashreq, ADCB to ensure best deal.

Pre-approval timeline: 7 business days (with complete documents). Required docs: ID, visa, employment letter, last 3 salary slips, property details. Once pre-approved: you can make offers with confidence. Pre-approval is not a guarantee; full approval follows property selection and valuation.

After pre-approval: Select property → Negotiate deal → Submit property details → Arrange valuation → Bank full appraisal (5–7 days) → Final approval → DLD mortgage registration → Closing (funds disbursed). Total: 2–3 weeks post-pre-approval. Keep pre-approval active (valid 3–6 months) during property search.