What is the average interest rate for a mortgage in Dubai?
The average interest rate for a mortgage in Dubai is currently between 2.99% and 4.99%, depending on the lender and the product type. Fixed rate mortgages are typically slightly higher than variable rate mortgages.
Here are some examples of current mortgage rates in Dubai:
- Emirates NBD: 2.99% for a 2-year fixed rate mortgage
- HSBC: 4.99% for a 3-month EIBOR variable rate mortgage
- Standard Chartered: 4.24% for a 3-year fixed rate mortgage
It is important to note that interest rates can change on a monthly basis, so it is always best to check with your lender for the most up-to-date rates.
Here are some factors that can affect the interest rate on your mortgage:
- Your credit score
- The amount of your down payment
- The length of your mortgage term
- The type of mortgage you choose
If you are looking for a mortgage in Dubai, it is important to shop around and compare rates from different lenders. You can also use a mortgage calculator to estimate your monthly payments.
Go to DXB Interact to see real-time property transaction values, and make sure you're paying the right amount.
Want to leave it to the pros to find you the best deal? visit fäm Mortgages to get started today for free.
Tap “Get Free Advice Now” below to speak with a Dubai Property Expert today.
Get free advice now