• Emirates NBD Home Loan for Emiratis and Expats

    EMIRATES NBD HOME LOAN

    Emirates NBD Home Loans and Mortgages in the UAE

    ENBD offers Home Loans at low profit rates and low monthly payments. Home Loans are offered for UAE Nationals and for Expatriates. Loan against property is offered for UAE Nationals and for Expatriates.


    You’re probably eligible for Emirates NBD Home Loan if you are

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    Emirates NBD Home Loan Minimum Age

    At least 21 years old

     Emirates NBD Home Loan Maximum Age

    Less than 65 years old

    Emirates NBD Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Emirates NBD Home Loan Minimum Income

    Earn more than the minimum income required


    Your Emirates NBD Home Loan amount eligibility is based on these factors

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    Emirates NBD Home Loan Minimum Salary

    AED 10,000

    Emirates NBD Home Loan Maximum Loan to property value

    Loan capped is AED 15 million

    Emirates NBD Home Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible Emirates NBD Home Loan amount by these steps

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    Emirates NBD Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant, and her income will add to your eligibility

    Emirates NBD Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    Emirates NBD Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Emirates NBD Home Loan Interest RatesUpdated on 09 Dec 2016

    Emirates NBD Home Loan Details
    Processing Fees 1% of the loan amount
    Partial Pre Payment Charges 20%

    Types of Home Loans offered by ENBD

    Home Loans offered by ENBD are as follows:

    • Home Loans for UAE Nationals
    • Home Loans for Expatriates
    • Loan against property for UAE Nationals
    • Loan against property for Expatriates
    • Home Improvement Personal Loan

    Features and Benefits of ENBD Home Loans

    The following are the features and benefits of Home Loans offered by ENBD:

    Home Loans for UAE Nationals:

    ENBD makes it easy for UAE Nationals to buy an existing property or building your own house. The features and benefits of Home Loans for UAE Nationals are as follows:

    • Loan amount offered is up to AED15 million or 80 times your salary, whichever is lower.
    • Up to 80% of the property value is financed.
    • Loan tenure offered is up to 25 years.
    • Pre-approval facility is available.
    • Both salaried and self-employed individuals can avail Home Loan.
    • Processing fee charged is 1% of the loan amount which is non-refundable.
    • Partial settlement of up to 20% per annum is free.
    • Early settlement fee charged is 1% of the outstanding amount and that cannot exceed AED 10,000.
    • Property insurance is charged at 0.05% per annum on the value of the property.
    • Borrower’s Life Insurance is mandatory and is charged at 0.4% per annum on the loan amount.
    • The current applicable consumer base rate is 4.5% per annum.

    Home Loans for Expatriates:

    Expatriates can purchase a residential property in Dubai and Abu Dhabi from reputable developers to live and work. The features and benefits of Home Loans for Expatriates are as follows:

    • Borrower’s Life Insurance is mandatory and is charged at 0.4% per annum on the loan amount.
    • Both salaried and self-employed individuals can avail Home Loan.
    • Early settlement fee charged is 1% of the outstanding amount and that cannot exceed AED 10,000.
    • Loan amount offered is up to AED 15 million or 70 times your salary, whichever is lower.
    • Loan tenure offered is up to 25 years.
    • Partial settlement of up to 20% per annum is free.
    • Pre-approval facility is available.
    • Processing fee charged is 1% of the loan amount which is non-refundable.
    • Property insurance is charged at 0.05% per annum on the value of the property.
    • The current applicable consumer base rate is 4.5% per annum.
    • Up to 75% of the property value is financed.

    Loan against Property for UAE Nationals:

    The most convenient way of getting loan in UAE is by mortgaging your property. The features and benefits of Loan against property for UAE Nationals are as follows:

    • You can get loan up to AED 5 million.
    • Loan tenures offered are up to 20 years.
    • Self-employed and salaried individuals can take loan against property.
    • Loan is offered against fully constructed properties in all 7 Emirates in UAE.
    • Salary transfer is not mandatory.
    • Processing fee is 1% of the total loan amount.
    • The application fee is AED 1,000.
    • Property insurance is charged at 0.05% per annum on the sum assured.
    • Borrower’s Life Insurance is charged at 0.4% per annum for individual on the outstanding loan amount.
    • Late payment fee charged is AED 200.
    • Loan cancellation fee charged is the processing fee itself as it is non-refundable.
    • Charge for no liability letter is AED 100.
    • Prepayment and partial settlement fee is 1% of the outstanding amount and it cannot exceed AED 10,000.

    Loan against Property for Expatriates:

    If you are an expatriate, you can easily get loan by mortgaging your property. The features and benefits of Loan against property for Expatriates are as follows:

    • Loan is offered against freehold ready property you hold in Dubai.
    • Loan tenures offered are up to 20 years.
    • Salary transfer is not mandatory.
    • Self-employed and salaried individuals can take loan against property.
    • Up to 70% of the property value is offered as loan.
    • You can get loan up to AED 7.5 million.
    • Borrower’s Life Insurance is charged at 0.4% per annum for individual on the outstanding loan amount.
    • Charge for no liability letter is AED 100.
    • Late payment fee charged is AED 200.
    • Loan cancellation fee charged is the processing fee itself as it is non-refundable.
    • Prepayment and partial settlement fee is 1% of the outstanding amount and it cannot exceed AED 10,000.
    • Processing fee is 1% of the total loan amount.
    • Property insurance is charged at 0.05% per annum on the sum assured.
    • The application fee is AED 1,000.

    Home Improvement Personal Loan:

    ENBD offers loan to meet your financial needs for home renovation and improvement. Financing up to AED 3 million is offered. The features and benefits are as follows:

    Note: ENBD reserves the right to alter the rates and conditions without prior notice.

    Eligibility Criteria and Requirements

    Criteria for Emiratis

    The following are the eligibility criteria and requirements for Home Loans for UAE Nationals:

    • Both salaried and non-salaried UAE Nationals can get home loan.
    • The minimum monthly salary requirement is AED 10,000.
    • The minimum age requirement is 25 years and 21 years for Dubai Police.
    • The maximum age requirement is 65 years for salaried persons and 70 years for self-employed persons.
    • Tenure offered is up to 25 years.
    • Length of service requirement in current employment in UAE is 1 year and 3 years of total employment.
    • Self-employed must have minimum 3 years of length of business in UAE.

    Criteria for Expats

    The following are the eligibility criteria and requirements for of Home Loans for Expatriates:

    • Length of service requirement in current employment in UAE is 1 year and 3 years of total employment.
    • Minimum age requirement is 25 years.
    • Minimum monthly salary requirement is AED 20,000.
    • Salaried and self-employed can avail Home Loans for Expatriates.
    • Self-employed must have minimum 3 years of length of business in UAE.
    • Tenure offered is up to 25 years.
    • The maximum age requirement is 65 years for salaried persons and 70 years for self-employed persons.
    1. What are the different types of Home Loans offered by ENBD?

      The different types of Home Loans offered are Home Loan for UAE Nationals, Home Loan for Expatriates, Home Improvement Personal Loan, Loan against property for UAE Nationals and Loan against property for Expatriates.

    2. What is the minimum and maximum age requirement to avail Home Loan for UAE Nationals?

      The minimum age requirement is 25 years and 21 years for Dubai Police. The maximum age requirement is 65 years for salaried persons and 70 years for self-employed persons.

    3. What is the minimum and maximum age requirement to avail Home Loan for UAE Expatriates?

      The minimum age requirement is 25 years. The maximum age requirement is 65 years for salaried persons and 70 years for self-employed persons.

    4. What is the maximum tenure offered for Home Loans offered by ENBD?

      The maximum tenure offered for Home Loans is 25 years and 12 years for Home Improvement Personal Loan.

    5. Is Borrower’s Insurance required?

      Yes, Borrower’s Insurance is required and is charged at 0.4% per annum for individual on the outstanding loan amount.

    6. Will the property taken out against a home loan be registered in the bank’s name or the customer’s?

      The property will be registered in the customer’s name, but it will be pledged as security to the bank until the loan has been settled.

    7. Can I shift my house during the tenure of the loan?

      Customers have the option to settle their existing loan either by paying off the outstanding loan amount or by selling their property to a third party. The bank will have to be consulted if a residential property is converted to a rental property.

    8. Which is a better option – fixed rate of interest or floating rate of interest?

      The difference between fixed and floating rates is that the interest payments towards loans with fixed rates will remain the same every month for a set period of time, whereas the interest payments fluctuate every month in case of a floating rate of interest. If your income stream is high enough to allow you to pay more during some months then a loan with floating rate may be great for you. But if your income stream is steady and you have already set aside a sum of money that you can afford to pay each month then a fixed rate loan is ideal.

    9. Is it mandatory to open an account with the bank prior to applying for a home loan?

      While it is not mandatory to be an existing account holder with the bank at the time of applying for a loan, the bank will open a current account for you if you meet all eligibility criteria and qualify for the loan.

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

    The main factor while taking a home loan 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. It is the rate of interest on the Home Loan that affects the EMI and hence your monthly budget throughout the tenure of the loan.

    A Guide to Mortgages for First Time Property Buyers.

    Buying 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.

    Home Loan 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.

    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.

    Buy-to-let mortgages in the UAE

    Buy-to-let mortgages are best suited for the people who want to make an investment in the property with just the intention of letting out the property for rent. But since their purpose differs much from the regular mortgages, so does their other attributes. Hence it requires a well informed decision before opting for it.

    Home Equity Loans in the UAE.

    Home Equity Loans provide the facility for homeowners to borrow funds by putting up the equity in their homes as leverage. Home Equity Loans or Second Mortgages are among the easiest sources of cash a customer could wish for. And these being tax deductible, offer an additional benefit.

    Home Refinance Loans in the UAE

    Home Refinance Loans provide an option to the customers to opt for an additional finance on the existing property so as to get a better term and rate of interest than offered by their current mortgage. The second mortgage can be taken out once the first has been repaid.

    Subprime Mortgages in the UAE.

    Subprime Mortgages provides mortgages for the acquisition of residential real estate, sanctioned to customers with a bad credit history. Hence the risk of default on these loans is significantly higher and so are the fees to make up for the extra risk.

    Home Loans for the Senior Citizens in the UAE.

    Reverse Mortgages are a special kind of mortgages targeted only at the customers who have crossed the age of 62 years. The banks or the lenders provide the money against the equity in the existing property and also do provide for the payments to be made either monthly or occasionally in lump sums.

    Interest only Mortgages in the UAE.

    Interest only Mortgage in the UAE provide the facility to the customer to pay off the interest on the mortgage before the principal amount. Interest only mortgages come with a fixed term and have so many benefits apart from low initial payments and are suggested for the customers who intend to sell the property after the end of the mortgage.

    Fixed Rate Mortgages in the UAE.

    Fixed Rate Mortgages offer finance at fixed rates throughout the loan tenor and hence the monthly payments due on fixed-rate mortgages also remain the same. They are the exact opposite of adjustable rate mortgages in which the monthly payments may be low during the initial stages of the mortgage but could potentially increase to almost double the initial interest rates which will increase the monthly payments.

    News about Emirates NBD Home Loan

    • Properties from Emirates NBD to flaunt award-winning projects at Cityscape Global 2015

      Emirates NBD's subsidiary, Properties, is expected to display its highly-acclaimed real estate projects at the biggest property conference and networking exhibition on the planet, Cityscape Global 2015. The projects are said to include Windsor Crescent Townhouses, Terrace Apartments and Control Tower (retail and commercial) in Motor City, Dubai.

      Residential service apartments and a luxury hotel are also part of the portfolio and will be located around the Dubai International Financial Centre. The anticipated total floor area is said to be around 1,400,000 square feet. Moreover, the luxury hotel will have a capacity of 241 rooms and will occupy around 217,864 square feet in Motor City. Properties is also expected to reveal details of a home loan offer at the exhibition.

      10th September 2015

    • Emirates NBD Tracks Dubai Economy

      In July 2015, Dubai was at a 40-month low but business activity in the emirate has since increased considerably. Output has expanded in the sub-sectors but the business outlook still doesn't appear too bright.

      The Business Activity Index of Dubai is adjusted every season by Emirates NBD. With a rating of 53.1 in July, August recorded a rating of 57.6, making it the sixty-seventh month in succession that the rating was over the neutral 50.0. Since May this year, the latest index also marked the quickest expansion of output.

      All three main sub-sectors recorded impressive output increases in August, with the best growth rate witnessed at construction companies. Retail and wholesale firms were next best with each case experiencing the shooting of expansion rates to three-month highs. Though the travel and tourism industry also recorded output growth, it was a rather modest increase. The data derived in August showed a strong and sustained upturn in employment in the private sector in Dubai. The growth rate was up only marginally from July, however, and not as fast as the recent peak in June.

      10th September 2015

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