ADIB launches Istikrar, UAE’s ‘first’ long-term, fixed-rate home finance product

ADIB launches Istikrar, UAE’s ‘first’ long-term, fixed-rate home finance product

Abu Dhabi Islamic Bank (ADIB) has introduced Istikrar, the UAE’s first long-term, fixed-rate home finance offering. The product provides customers a consistent, fixed monthly installment throughout the chosen tenor rate, eliminating any variations or fluctuations. The new offering provides customers with more property financing options amid a high-rate environment. Home finance is a long term financial commitment, and the decision between a fixed-term or floating-rate scheme is crucial for home buyers. 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 per cent for five years with the possibility of the tenor to reach 20 years, installments will remain unchanged for homeowners. Amit Malhotra, global head of Retail Banking, Abu Dhabi Islamic Bank, added: Istikrar is an important milestone not just for , 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 optimise their household budget. Our aim is to continue leveraging customer insights to introduce new offerings that support our customers’ goals of home ownership.” According to