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SaadiqOne – Pay Less on Home Finance with Profit Offset

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SaadiqOne – Pay Less on Home Finance with Profit Offset

Reduce your home finance profit the smart way.

Your current account and your home finance are linked, with profit calculated on the difference between the home finance balance and the money in your account. You’ll take years off and pay less profit compared to a traditional home finance*.


Rate updated on: 24th June 2024

3 Months 5.29%
6 Months 5.19%
12 Months 5.43%
36 Months 4.93%
60 Months 4.72%


  • What is SaadiqOne Account (SOA)?

    The SaadiqOne Account is a Standard Chartered Bank (the “Bank”) Shariah compliant Islamic current account and is linked to the Home Finance facility. SOA is available in UAE Dirham only.

  • How does SOA work?

    The current account and the Home Finance facility are linked together. The outstanding amount of the Home Finance will be offset against the balance in the current account on a daily basis for the purpose of calculating the variable rental (profit). This means you can pay off your Home Finance faster, because your payments are going more towards your Fixed Rental and less towards the Variable Rental.

    In addition, you will also get a return on your average monthly balance in the SOA.


    • Finance Amount: AED1 Million

    • Profit Rate: 3.75% p.a.

    • Tenor: 25 Years

    • Deposit Balance in CA: AED 400K

    Saadiq Home Finance Product
    First month payment (without offset)
    Saadiq Home Finance Product
    First month payment (with offset of AED 400K
    Instalment: AED 5,141.31
    (= profit AED 3,184.93 + Principal AED 1,956.38)Principal Outstanding: AED 998,043.62
    Instalment: AED 5,141.31
    (= Profit AED 1,910.96* + Principal AED 3,230.55**)Principal Outstanding: AED 996,769.65* Profit is calculated on AED 600K (= 1Mil – 400K)
    ** Principal component is higher than standard Saadiq Home Finance product by AED 1,274, which is equal to the amount of profit saved by the client.
    *Rates and Numbers are for illustration purposes only and do not take into account daily balance variations

    In the above example, when you pay your instalment, the instalment components are adjusted to accommodate the lower profit payable. Hence, profit payable is minimised and principal outstanding is reduced at a much faster rate. This will result in the finance amount being paid off in a shorter period of time.

    Note: An offset cap is applicable on the Home Finance balance and it is based on the cap you select at the time of application. The offset is up to a maximum of 75% of the Home Finance balance.

    An offset fee will be charged on the anniversary of the initial disbursal and for the duration of the Home Finance facility. The cap ranges and their corresponding offset fees are decided by the Bank.

  • What is the Withdrawal Facility?

    The Withdrawal Facility is a key benefit of the SOA. The variable rental you save as a result of the offset, referred to as the Available Limit, will be available to you for withdrawal at your convenience.

  • Who is eligible for SOA?

    UAE residents (Nationals and Expatriates) can apply for the SOA subject to the provision of required documentation and criteria. In the event you become a non-resident you undertake to inform the Bank of the change in your residency status.

  • What are the various types of Home Finance products that can be availed under SOA?

    SOA is available for completed residential properties financed by the Bank.

  • What are the fees applicable to SaadiqOne Account (SOA)?

    Please refer to our Service and Price Guide for the fees applicable on the Home Finance and SaadiqOne Account, click here.

    a) Important fees to note are: Offset Fee is charged on the anniversary of the initial disbursal and for the duration of the SOA. The offset fee is based on the offset cap selected and it is applicable on the Preset Safety Limit (PSL).

    Offset Cap Offset Fee
    up to 25% Free for Life
    25.01% up to 50% 0.52%
    50.01% up to 75% 1.05%

    b) Conversion Fee of 0.525% is charged on the outstanding finance amount for switching from SOA to a standard Home Finance and vice versa.

    c) The caps are determined by the Bank and are subject to change.

  • What is a Preset Safety Limit?

    The Preset Safety Limit (PSL) is the outstanding Home Finance amount as per the standard payment schedule (i.e.it does not take into consideration the deposit balance or offset).

  • Is there a Minimum Balance required on the SOA?

    No Minimum Balance requirement.

  • How does an SOA differ from a traditional Current Account?

    You can use your SOA in the same manner as a traditional Current Account in terms of deposits and withdrawals. In addition the SOA offers a profit payout on your deposits balances. The profit is calculated and paid out on the monthly average balance held on the SOA as the Current Account is based on the concept of Mudaraba.

  • Will I get a periodic statement for tracking the payments or transactions in this account?

    A monthly consolidated statement will be provided for SOA, which will give details on your Account and Home Finance. The statement will be sent to your registered email address and will also be available on Standard Chartered Online Banking. If you opt for it, you will receive a physical statement. Please note that physical statements may be subject to charges as per the Service & Price guide.

  • How can I track the variable rental saved under SOA?

    The information on variable rental saved will be available as part of the monthly SOA statement.

  • If I have an existing current account with Standard Chartered, do I need to open a new account if I want to avail a SOA?

    You will be required to open a new SOA for payment purposes regardless of any existing account(s) you may hold with us.

  • If I have an existing Home Finance facility with Standard Chartered, can I convert it to a SOA?

    The option of converting the existing Home Finance facility to a SOA is available. For more information you may contact your Home Finance advisor or you may contact our Home Finance Service Desk at HomeFinance.ServiceDesk@sc.com


Fees and charges are subject to change. All fees and charges listed are inclusive of 5% Value Added Tax (VAT), where applicable.

Approval of finance is at the sole discretion of Standard Chartered Bank.