Frequently Asked Questions

What is the ADHA Top-Up Loan program in partnership with ADHA?
icon

In partnership with Abu Dhabi Housing Authority (ADHA), Mbank participates as an empaneled bank in the 50% subsidized interest ADHA Top-Up Loan program.

What is the maximum loan amount that can be availed under ADHA Top-Up Loan?
icon

Eligible customers can avail up to AED500,000 with a 50% interest subsidy from Abu Dhabi Government.

Any additional borrowing from Mbank will be at standard commercial rates and will not be subsidized.

Note: The interest subsidy from Abu Dhabi Government will stop if beneficiary does not repay his portion of installment payable to Mbank.

Who is eligible?
icon
  • Customer must be pre-approved by ADHA for the Top-Up Loan program & shall find the top up offer link visible on their Iskan Abu Dhabi App
  • Be eligible as per Mbank’s Terms & Conditions.
What is the applicable Interest Rate and associated fees for ADHA Top-Up Loan program?
icon
Customer Type Interest Rate Scheme Fees (Payable by beneficiary)
Salary Transfer to Mbank 4.25% per annum fixed for 5 years and post that Variable Interest Rate based on 3 Months EIBOR + 1%
  • Processing Fee: NIL (Free)
  • Valuation Fee: NIL (Free)
  • Life Insurance: 0.015% of outstanding loan payable monthly
  • Property Insurance (on the value of your property):
    • Villa: 0.01538% per annum
    • Apartment: 0.015% per annum
No Salary Transfer to Mbank 4.50% per annum fixed for 5 years and post that Variable Interest Rate based on 3 Months EIBOR + 1.25%
  • Processing Fee: 0.5% + VAT
  • Valuation Fee
    • Ready Property: AED3,000 + VAT
    • Under Construction: AED5,000 + VAT
  • Life Insurance: 0.015% monthly of outstanding loan payable monthly
  • Property Insurance (on the value of your property):
    • Villa: 0.01538% per annum
    • Apartment: 0.015% per annum
Is a salary transfer mandatory to apply for ADHA Top-Up Loan program?
icon

No. However, transferring your salary to Mbank gives you access to preferential interest rates and fees, as mentioned above.

How does the repayment work?
icon

Below is the repayment structure:

Property Type Repayment during Construction Phase Repayment – Post Handover
Retail Under Construction Interest Only Interest + Principal (or after 24 months, whichever is earlier)
Ready Property (from ADHA) N.A. Principal + Interest (starting 6 months after handover)
Developer Off-Plan Interest Only Principal + Interest (starting after handover)
What type of loan is offered by Mbank towards ADHA Top-Up Loan program?
icon

Mbank offers a conventional home loan for ADHA Top-Up Loan.

Post submission of my interest for ADHA Top-Up Loan to Mbank, what are the next steps
icon

Once you submit your interest, here’s what to expect:

  • Step 1 – Initial Call
    You will receive a call from a dedicated Specialist within 2 working days to guide you on the application process and the Specialist shall respond to any queries that you may have.
  • Step 2 – Submitting the application
    You will then be requested to provide the required details in order to proceed and digitally sign an application to initiate the in-principle approval process, which will be processed within 3 working days.

To offer a seamless experience, please arrange for the following key documents, as and when available

Personal Documents Ready Property (From ADHA) Under Construction Property
  • Latest Salary Certificate (Dated within last 30 days)
  • Emirates ID Copy
  • Valid Passport Copy
  • Last 6 months Bank Statement/s (online statement download will suffice)
  • Government housing project / ready villa – Title Deed from DMT
  • Building Permit
  • Site Plan
  • Search Certificate
  • Bill of Quantity
  • Contractor Payment Schedule or Developer Reservation Agreement

*While the above is a comprehensive list, the bank reserves the right to request additional documents, as & when required.

Need Assistance? Feel free to contact us through our Community Engagement Centre on 600571111.