These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Arab Bank of Australia is the Arab world's first private bank. Arab Bank of Australia offers a range of home loans for Australian borrowers. Check out the full table of Arab Bank of Australia products below or read more about the lender.
Compare Arab Bank of Australia home loans for November 2024
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How do I apply for a mortgage from Arab Bank of Australia?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with Arab Bank of Australia you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Check out Finder's main home loans guide if you want to compare more home loans from a range of lenders. Or you could try one of the following lenders:
ING. This online bank is part of the global, Dutch financial group of the same name.
Commonwealth Bank. The nation's largest bank has a large selection of home loans and a convenient banking app.
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 554 Finder guides across topics including:
Repay your loan faster and save thousands by finding a lender that will reduce your LMI. To find the right home loan for you, compare different loans today.
Hi Richard and thanks for your review of Arab Bank Australia (ABAL).
Sorry I don’t have a question but rather if I can just make a comment regarding your repayment Options that ABAL does have Interest Only repayments available on certain home loan products and can be discussed with the Lender if this option suits their needs.
FaridullahNovember 8, 2014
Salam alikum, I recently purchased a house in Perth. I am an overseas worker and didn’t know about any islamic bank.
Now I am stressful because the way I am paying mortgage in not according to sharia. I need your help if I can transfer my existing mortgage to an Islamic bank and pay according to sharia?
Finder
ElizabethNovember 10, 2014Finder
Hi Faridullah,
Thanks for your question.
Transferring your existing mortgage to another lender is referred to as refinancing and is possible to do. You might want to take a look through the steps associated with refinancing. Before you start, take a look at the break costs and exit fees your current lender will charge you to leave your home loan to see if it’s a financially viable option.
I hope this has helped.
Thanks,
Elizabeth
FaridullahNovember 11, 2014
Thanks for your reply. I want to refinance but my question is that I want to borrow according to sharia, just like other islamic banks are doing Overseas. Reply if you can be of any help in this matter.
Finder
ElizabethNovember 11, 2014Finder
Hi Faridullah,
You’ll need to get in contact with Arab Bank directly to see if they are able to lend to you in this way, as I’m unaware of the specifics of sharia. If they can’t offer you this, you may want to get in touch with a mortgage broker who might be able to offer you other options for lenders.
I hope this has helped.
Thanks,
Elizabeth
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Hi Richard and thanks for your review of Arab Bank Australia (ABAL).
Sorry I don’t have a question but rather if I can just make a comment regarding your repayment Options that ABAL does have Interest Only repayments available on certain home loan products and can be discussed with the Lender if this option suits their needs.
Salam alikum, I recently purchased a house in Perth. I am an overseas worker and didn’t know about any islamic bank.
Now I am stressful because the way I am paying mortgage in not according to sharia. I need your help if I can transfer my existing mortgage to an Islamic bank and pay according to sharia?
Hi Faridullah,
Thanks for your question.
Transferring your existing mortgage to another lender is referred to as refinancing and is possible to do. You might want to take a look through the steps associated with refinancing. Before you start, take a look at the break costs and exit fees your current lender will charge you to leave your home loan to see if it’s a financially viable option.
I hope this has helped.
Thanks,
Elizabeth
Thanks for your reply. I want to refinance but my question is that I want to borrow according to sharia, just like other islamic banks are doing Overseas. Reply if you can be of any help in this matter.
Hi Faridullah,
You’ll need to get in contact with Arab Bank directly to see if they are able to lend to you in this way, as I’m unaware of the specifics of sharia. If they can’t offer you this, you may want to get in touch with a mortgage broker who might be able to offer you other options for lenders.
I hope this has helped.
Thanks,
Elizabeth