Customer-determined rate mortgage product introduced


Having conceptualised the proposition in November 2017, Dubai Islamic Bank (DIB) has launched a new home finance product called MyHome. The offering is a ‘one stop shop’ to meet a customer’s entire home finance related needs. It offers the widest range of profit rates in the UAE market giving customers greater choice and flexibility throughout the life of their home finance. The product lets the customer choose their monthly repayment schemes from between three, six or 12 months EIBOR rate and review period, lifetime fixed rates (typically between five to nine per cent and can be changed at a future time).—Agencies

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