|Application Fee||AED 3,150 (non refundable, but offset against your processing fee)|
|Account Management Fees|
|Full Repayment Fees (FRF)2||
|Partial Repayment Fees (PRF)2||
|Offer Letter Cancellation Fee3||AED 2,100|
|Fees for Letters|
|Liability Letter||AED 89.25 per occurrence|
|No Objection Certificate (NOC)||AED 157.50 per occurrence|
|Clearance letter||AED 99.75 per occurrence|
|Offer Letter Renewal||AED 2,100 per occurrence|
|AIP Renewal||AED 2,100 per occurrence|
|Change in Approval Terms (Pre or Post Disbursement)||AED 2,100 per occurrence + Valuation fee + any associated fees incurred from relevant Registration Authority or Developer if applicable|
|Loan Restructure Fee||AED 4,200 per occurrence|
|Late Payment Fee||AED 735 applied on a monthly basis on any payments overdue by 10 days or more|
|Default Rate||The Default4 shall mean: (a) where there is an event of Default or where an account is delinquent for more than 60 days, an additional 400 basis points shall be added to the existing interest rate (the “60 Day Penalty Rate”); and (b) where the event of Default or an account remains to be delinquent for more than 90 days, a further 400 basis points shall be added to the 60 Day Penalty Rate.|
|Returned Cheque Fee/Direct Debit Fee||AED 105 per returned cheque / dishonoured or failed Direct Debit|
|Replacement of Cheque / Amendment to DDS account||AED 52.5 per cheque replacement/amendement|
|Change in Payment Date||AED 262.5 per occurrence|
|Permanent Change in Payment Mode||AED 525 per occurrence|
|Deferment of an Instalment||AED 105 per occurrence|
|Non-Standard statement production/ Copy of original documention||AED 367.50 per request|
|Registration of Mortgage||In accordance with the Developer’s and relevant Registration Authority’s standard fees and charges|
|Loan Protection Insurance||Mandatory - starting from 0.0417% of the outstanding loan amount per month|
|Insurance Assignment||AED 1,575|
|Loan Protection Insurance Opt Out Fee||0.3675% of original loan amount for single applicant/0.525% of the original loan for joint applicants per annum|
|Property Insurance||Mandatory starting from 0.0441% per annum of reinstatement value, minimum AED 262.5|
1 Non refundable. If a Further Advance is made, the Processing fees as specified above are reduced to 75% of the standard amount (a minimum fee of AED 3,150).
2 Unless specified otherwise in the Offer Letter.
3 Payable if the applicant cancels the application after an offer letter is produced but before disbursement.
4 The term Default shall have the mesaning ascribed to it in the standard loan terms and conditions.