ADIB unveils UAE’s 1st long-term, fixed-rate home finance ‘Istikrar’

By Shilpa Annie Joseph, Official Reporter
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Rep. Image | Courtesy: ADIB

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has launched its new product, ‘Istikrar’, the UAE’s first long-term, fixed-rate home finance.

The new offering provides customers with more property financing options amid a high-rate environment and it is in line with the bank’s commitment to enhancing the daily lives of its customers.

According to the statement, “Fixed-term schemes, unlike floating-rate home finances, offer stability and predictability for customers when managing their budgets. With rates starting as low as 4.89 percent for 5 years with the possibility of the tenor to reach 20 years, homeowners can have peace of mind knowing that their installments will remain unchanged.”

Home finance is a long-term financial commitment, and the decision between a fixed-term or floating-rate scheme is crucial for homebuyers. Customers can learn more about how they can secure fixed-term home finance by visiting or calling an ADIB branch.

Mr. Amit Malhotra, Global Head of Retail Banking, Abu Dhabi Islamic Bank, said that, “Istikrar is an important milestone not just for ADIB, but for the UAE as a whole. Given the uncertain rate environment, we observed an increasing demand from our customers for a fixed-rate home finance option.”

“Istikrar has been introduced to help in their financial planning and optimize their household budget. We aim to continue leveraging customer insights to introduce new offerings that support our customers’ goals of home ownership,” Mr. Malhotra added.

The carefully designed fixed-rate tenor offered by the bank guarantees homebuyers a worry-free experience, free from any large final payment or unexpected changes in installments.

At the end of the loan term, customers won’t encounter any sudden financial burdens. Moreover, our loan structure ensures that their Debt Burden Ratio (DBR) remains unaffected, enabling them to comfortably manage their finances, as per the statement.

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