ADHA Top-Up Loan

50% Interest charge subsidized
by Abu Dhabi Government.

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    For more details visit https://www.mbank.ae/ or contact us on 600571111.

    Frequently Asked Questions

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    1. What is the Housing Loan Top-Up program in partnership with ADHA?

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

    2. What is the maximum loan amount that can be availed under ADHA Housing Loan Top-up?

      Eligible customers can avail up to 500,000 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.

    3. Who is eligible?
      • Customer must be pre-approved by ADHA for the Housing Loan Top-Up program & shall find the top up offer link visible on their Iskan Abu Dhabi App.
      • Be eligible as per Mbank’s Terms & Conditions & or Central Bank of UAE regulations.
    4. What is the applicable Interest Rate and associated fees for ADHA Housing Loan Top-up program?
      Customer TypeInterest Rate SchemeFees (Payable by beneficiary)
      Salary Transfer to Mbank4.25% 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 Mbank4.50% 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: 3,000 + VAT
        • Under Construction: 5,000 + 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
    5. Is a salary transfer mandatory to apply for ADHA Housing Loan Top-up program?

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

    6. How does the repayment work?

      Below is the repayment structure:

      Property TypeRepayment during Construction PhaseRepayment – Post Handover
      Retail Under ConstructionInterest OnlyInterest + Principal (or after 24 months, whichever is earlier)
      Ready Property (from ADHA)N.A.Principal + Interest (starting 6 months after handover)
      Developer Off-PlanInterest OnlyPrincipal + Interest (starting after handover)
    7. What type of loan is offered by Mbank towards ADHA Housing Loan Top-up program?

      Mbank offers a conventional home loan for the ADHA Housing Loan Top-up.

    8. Post submission of my interest for ADHA Housing Loan Top-up from Mbank, what are the next steps?

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

      • Step 1 – Initial Call
        You will receive a call from a dedicated Relationship Manager (Mortgage Specialist), within 2 working days to guide you on the application process and 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 DocumentsHouse purchase loanUnder Construction loan
      • 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
      • Developer off Plan project – Reservation Agreement
      • Building Permit
      • Site Plan
      • Search Certificate
      • Bill of Quantity
      • Contractor Payment Schedule

      *Based on your application / Bank requirements, some additional documents may be required. 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.

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