• Emirates NBD Home Loans for Expatriates in the UAEĀ 

    EMIRATES NBD HOME LOAN

    Emirates NBD

    Emirates NBD is among the most commercially successful financial institutions in the UAE after the merger between National Bank of Dubai and Emirates Bank International in late 2007. The bank provides quality products and services across investment, private, retail and Islamic banking. The bank marked its 50th anniversary celebrations in 2013 and has been recognised as one of the leading banks in the region at several award ceremonies where it bagged laurels for its provision of excellent service. There are over 220 Emirates NBD branches across the planet along with more than 900 ATMs and CDMs.

    Emirates NBD Home Loans for Expatriates

    Regardless of whether you have just moved to the UAE, or if you have just found employment in the country, or even if you have been employed in the UAE for many years, Emirates NBD has fairly simple requirements so that customers can find the package that best suits their financial requirements.

    Why Choose Emirates NBD for Home Loans?

    Emirates NBD has a rich history of designing specially tailored products to meet the demands of an ever-changing customer base. As a result, you have several different options when it comes to home loans, thus allowing you to find the best package with the help of the bank’s personnel who are always happy to help you find what you are looking for. The quality of products and services offered by the bank have also garnered much acclaim over the years, making the bank one of the favourites among UAE customers.

    Key Features of Emirates NBD Home Loans for Expatriates

    • The loan amount that can be availed is up to AED 15 million or 70xthe customer’s salary, whichever is lower.
    • Pre-approval facility.
    • The tenor extends to 25 years.
    • Funding sanctioned for 75% of the home value.
    • Self-employed persons as well as salaried employees may apply.

    Eligibility Criteria for Expats to get a Home Loan from Emirates NBD

    • The customer’s salary must be transferred to Emirates NBD.
    • The employer of the customer should be on the List of Employers approved by the bank.
    • Customer must be well aware of the UAE Residency Status.
    • Customer should be at least 25 years of age.
    • Customers should be no older than 65 years of age if they are employed, and no older than 70 if they are self-employed.
    • The minimum salary of the customer must be at least AED 20,000.
    • The customer should have worked for at least one year in the UAE and three years in total.
    • Self-employed individuals must have operated their business for at least three years in the UAE.

    Documentation required for Expats to get a Home Loan from Emirates NBD

    The documents required to acquire a loan from Emirates NBD may differ based whether you are self-employed or salaried. However, a copy of your passport along with your visa copy must be mandatorily submitted if the bank is to consider your application.

    Benefits of Emirates NBD Home Loans for Expatriates

    • Simple repayment periods.
    • Complimentary debit card and bank account.
    • Flexible loan amounts.
    • Easy documentation.
    • Quick processing of the loan application.
    • Option for loan return (along with a seven-day option in case the terms of the loan are not attractive enough for your liking).
    • Superior credit life.
    • Loan coverage.

    Other products offered by Emirates NBD in the UAE are:

    Emirates NBD Credit Card

    Emirates NBD Personal Loan

    Emirates NBD Home Loan for Emiratis

    Emirates NBD Car Loan

    Emirates NBD Fixed Deposit

    Emirates NBD Car Insurance

    Emirates NBD Life Insurance

    Emirates NBD Home Insurance

    Emirates NBD Health Insurance

    Emirates NBD Travel Insurance

    Frequently Asked Questions - FAQs

    1. Are there any processing fees involved with taking out a home loan with Emirates NBD?
    2. Yes, Emirates NBD charges a one-time fee for customers who wish to avail a home loan from the bank. It is only 1% of the total amount you wish to borrow and is a minimum of AED 500 and a maximum of AED 2500.

    3. Are there any early repayment fees?
    4. Yes, customers who can repay their loans before the specified term will be charged a small fee from the bank. It is 1% of the amount you have outstanding.

    5. If I’m not happy with the terms of the loan after taking it, can I cancel it?
    6. Yes. The bank offers a seven-day return option whereby customers who aren’t satisfied with the terms and conditions of the loan can return it within seven days and there will be no charges either.

    You may also read these articles related to Home Loans and Mortgages in the UAE:

    What should you know about the interest rates on Home Loans?

    The main factor while taking a home loan however is the interest rate. Home loans are easily available from various banks across the UAE and the interest rate that is applicable on these loans depends on the bank that offers that loan. The common terms are that the banks are willing to fund up to 80% or more of the cost of the property and you pay the balance.

    A Guide to Mortgages for First Time Property Buyers

    Planning to buy a property for the first time in your life and that too on mortgage? It is a huge expense and a massive commitment to get involved with. Hence there are certain things you will need to know about it before you can proceed.

    Mortgage Transfer to another Banks

    Ever felt like changing your lender? There are lots of things that make refinancing a mortgage a good idea and the chief among them is that if can help ease the pressure of monthly payments. You can also walk away with lots of benefits, depending on the bank.

    How to get cash finance at low rates against existing property?

    Did you know that you can avail finance by tapping into the positive equity of your property? Instead of letting your property to sit idle, you may use it to avail finances. Many banks provide cash advances against properties for a lower rate of interest. Using properties as a collateral will help get cash advances of a higher amount at a very low rate.

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