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.
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