• NBAD Home Loans & Mortgages in the UAE

    NBAD

    NBAD Home Loan

    NBAD provides financing for housing schemes as well. The advantage of NBAD Mortgage loans are that they provide high loan amounts compared to other banks, they have flexible repayment options, and these loans are applicable to both UAE Nationals and Expats.


    You’re probably eligible for NBAD Home Loan if you are

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    NBAD Home Loan Minimum Age

    At least 21 years old

     NBAD Home Loan Maximum Age

    No Info

    NBAD Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    NBAD Home Loan Minimum Income

    Earn more than the minimum income required


    Your NBAD Home Loan amount eligibility is based on these factors

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    NBAD Home Loan Minimum Salary

    No Info

    NBAD Home Loan Maximum Loan to property value

    Loan capped is AED 20 million

    NBAD Home Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible NBAD Home Loan amount by these steps

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    NBAD Home Loan Add Spouse as Co-applicant

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

    NBAD Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    NBAD Home Loan Add parents as Co-applicant

    Alternatively add your parents


    NBAD Home Loan Interest RatesUpdated on 07 Dec 2016

    NBAD Home Loan Details
    Interest Rate (Monthly reducing balance) 2.94%
    Interest Rates - Mortgage Loans 2.94% p.a. fixed for 12 months, variable thereafter
    Granted Land or Government Housing Schemes 8% p.a. on new loans, based on a variable interest rate structure, NBAD Mortgage Base Rate, plus margin

    Types of Home Loans Available from NBAD

    1. Buyout Loans
    2. Mortgage Loans from an Individual
    3. Mortgage Loans from a Developer
    4. Mortgage Loans for UAE Nationals
    5. Granted Land or Government Housing Schemes
    6. Refinance Loans

    NBAD Mortgage Loans: Features and Benefits

    Buyout Loans

    • Both Expats and UAE Nationals may apply for this scheme.
    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • This scheme provides 80% loan to value for UAE nationals and 75% for Expats living in UAE.
    • The scheme allows individuals to take a loan of up to AED 20 million.
    • The repayment tenure can last up to a period of 25 years.
    • The interest rate is fixed at 2.94% for the first 12 months of the repayment period.
    • After 12 months the interest charged is variable and includes the base rate along with the applicable margin.
    • There are no requirements for transfer of salary for availing this scheme.

    Mortgage Loans from an Individual

    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • The scheme is also applicable for properties that are from the secondary market but are completed.
    • The repayment tenure can last up to a period of 25 years.
    • The scheme allows individuals to take a loan of up to AED 20 million.
    • Both Expats and UAE Nationals may apply for this scheme.
    • This scheme provides 80% loan to value (LTV) for UAE nationals and 75% for Expats living in UAE.
    • The interest rate is fixed at 2.94% for the first 12 months of the repayment period.
    • After 12 months the interest charged is variable and includes the base rate along with the applicable margin.

    Mortgage Loans from a Developer

    • The scheme is also applicable for properties that are from the secondary market but are completed.
    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • The repayment tenure can last up to a period of 25 years.
    • The scheme allows individuals to take a loan of up to AED 20 million.
    • This scheme provides 80% loan to value (LTV) for UAE nationals and 75% for Expats living in UAE.
    • Both Expats and UAE Nationals may apply for this scheme.
    • The interest rate is fixed at 2.94% for the first 12 months of the repayment period.
    • After 12 months the interest charged is variable and includes the base rate along with the applicable margin.

    Mortgage Loans for UAE Nationals

    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • The repayment tenure can last up to a period of 25 years.
    • The scheme allows individuals to take a loan of up to AED 20 million.
    • This scheme provides 80% loan to value (LTV) for UAE nationals.
    • You have the option to pay interest only for the first 2 years of the loan repayment period.
    • The interest rate is fixed at 2.94% for the first 12 months of the repayment period.
    • After 12 months the interest charged is variable and includes the base rate along with the applicable margin.

    Granted Land or Government Housing Schemes

    • The borrower can get finance for 80% of their current property value or if they are UAE nationals, up to AED 20 million.
    • The repayment tenure can last up to a period of 25 years.
    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • Low interest rates starting from 8%.

    Refinance Loans

    • The scheme is applicable for existing loans which you wish to refinance for better convenience of repayment.
    • Both Expats and UAE Nationals may apply for this scheme.
    • The interest rate is fixed at 2.94% for the first 12 months of the repayment period.
    • After 12 months the interest charged is variable and includes the base rate along with the applicable margin.
    • The repayment options are flexible considering that they can be paid through rentals or salary.
    • The repayment tenure can last upto a period of 25 years.
    • The scheme allows individuals to take a loan of upto AED 20 million.
    • This scheme provides 80% loan to value (LTV) for UAE nationals and 75% for Expats living in UAE.

    NBAD Home Loans: Eligibility

    • The loan facility is available for both UAE citizens as well as to Expatriates residing in UAE.
    • This loan is provided to customers for funding properties within approved properties of empanelled developers or for properties that are purchased from real estate developers.
    • Income proof has to be provided at the time of application.
    • The applicant has to provide a UAE residence address proof.

    NBAD Home Loans: Documents Required (Based on the Type of Loans)

    Buyout Loans

    • Letter of Liability
    • Latest Bank statements
    • Details of Property
    • Letter of Salary transfer or salary certificate if the buyout is from a different bank
    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID

    Mortgage Loans from an Individual

    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID
    • Memorandum of understanding (property sale and purchase agreements)
    • Letter of Liability
    • Latest Bank statements
    • Details of Property
    • Letter of Salary transfer or salary certificate if the buyout is from a different bank

    Mortgage Loans from a Developer

    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID
    • Latest Bank statements
    • Details of Property
    • Letter of Salary transfer or salary certificate if the buyout is from a different bank

    Mortgage Loans for UAE Nationals

    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID
    • Latest Bank statements
    • Letter of Salary transfer or salary certificate if the buyout is from a different bank
    • Construction plan of the property

    Granted Land or Government Housing Schemes

    • Latest Bank statements
    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID
    • Title Deed of the property
    • Letter of Salary transfer

    Refinance Loans

    • Documents supporting business ownership if the borrower is self-employed or,
    • Letter of Salary transfer or salary certificate if the buyout is from a different bank
    • Letter of liability
    • Copies of (Originals must be shown)
    • Valid Passport
    • Visa
    • Emirates ID
    • Title Deed of the property
    • Latest Bank statements

    NBAD Home Loans: Fees and Charges

    • The following charges and fees are applicable for all the home loans including the refinancing options:
    • The processing fee is charged at 1% of whatever the total approved finance amount is. However, the minimum should be AED 5,000.
    • 0.0365% is charged for insurance each month on the outstanding balance of loan amount balance for standard cases.
    • 0.05% every year is charged over the sum assured as property insurance.
    • The property evaluation fee is chargeable at a range of AED 3,000 to 8,000.
    • Property management charges are taken @ 4% of the rental amount.
    • To reschedule loan AED 3,000 is charged.
    • Early settlement fee is generally taken at 1% of the amount paid off but it can exceed AED 10,000.
    • Late payment fees are taken at 2% of the amount that was due and has not been paid.

    Disclaimer: The rates and charges mentioned here, are subject to change based on the bank’s discretion.

    The National Bank of Abu Dhabi (NBAD) is a state owned bank headquartered in Abu Dhabi, United Arab Emirates. It was established in 1968 and has since formed an expanding network of 125 branches and cash offices. It also has 585 ATM's across the country. NBAD is a bank with the largest market capitalisation among UAE banks - which means that it has the highest market share value.

    NBAD provides products such as Loans, Savings, Corporate Banking, Project Finance, Corporate Advisory, Treasury, Leasing, Property Management, Islamic Banking, and brokerage and so on. NBAD has its reach in countries like Oman, Kuwait, Bahrain, Egypt and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C in the U.S.A. The bank provides its customers with a wide variety of financial services targeting all segments of the retail and corporate market.

    NBAD Credit Cards

    NBAD Car Loans

    NBAD Personal Loans

    NBAD Fixed Deposits

    NBAD Car Insurance

    NBAD Travel Insurance

    NBAD Life Insurance

    NBAD Savings Account

    NBAD Current Account

    1. How is the loan disbursed?

      The principal Loan shall be disbursed to the account of the Borrower upon the completion of all the securities and documentation.

    2. Can there be co-borrowers of the loan?

      Yes. In the event the Loan is granted to more than one borrower, the borrowers shall be jointly and severally responsible for the payment of all obligations under the loan. The Bank shall have the right, at its absolute discretion, to claim from any of them singly or jointly as it deems appropriate.

    3. How does NBAD facilitate the loan transaction?

      National Bank of Abu Dhabi has a dedicated Home Loan department to guide valuable customers in financing a property. The bank’s home loan expert shall get in touch with you and guide you through every step of the home loan.

    4. How is the interest rate calculated in NBAD?

      The rate of interest is calculated on the daily balance of the drawn and unpaid amounts of the Loan from the date of withdrawal based on the actual number of day’s lapse and a 365 day year to be added to the Loan balance and paid with the monthly instalments.

    5. What is the procedure for charging fees or commissions?

      The Bank will charge the commissions, fees, and expenses incurred on the Loan as per the instructions of the Central Bank of the United Arab Emirates (UAE) as may be amended from time to time.

    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 NBAD Home Loan

    • Expatriates from Egypt to Receive Loans from NBAD to Buy Residential Real Estate in Egypt

      NBAD, or National Bank of Abu Dhabi recently revealed a scheme for Egyptian foreigners living in the UAE, announcing that the bank will offer home loans for them to purchase properties in their home country. The scheme is tailored to fund around 70% of the completed unit value. In order to avail the loan facility, Egyptian households are required to earn at least AED 25,000. The repayment period extends up to a maximum of ten years and customers can repay either on variable or fixed interest.

      The bank’s representatives further revealed at a panel discussion that the real estate market is expected to grow in Egypt thanks to a higher number of purchases being recorded in New Cairo. It is also said that Egypt has been the bank’s target primarily because it runs its largest retail in the North-East African nation. The bank will provide customers with an authorised list of developers, but they can also buy properties from non-listed developers provided that all criteria are met by them.

      07th September 2015

    • National Bank of Abu Dhabi (NBAD) bags A+ rating

      National Bank of Abu Dhabi has been able to maintain its status as one of the most premier banks of the country by bagging an A+ rating from Capital Intelligence (CI) which is an international credit rating agency. The agency has ascertained the bank’s Financial Strength Rating, FSR following the good management, high capital adequacy ratio, high liquidity and good profitability features of NBAD.

      Foreign currency long term and short term ratings have been affirmed by CI as AA- and A1+ respectively. NBAD has good banking standards as well as great commitment towards customer satisfaction. Also, the risk profile of the customers of NBAD is quite good. The asset quality ratio of the bank has also improved in recent years. What is good news is that the non-performing loan ratio has gradually fallen while the coverage ratio of the bank has strengthened. Given all these points the bank seems to be maintaining good relations with the customers and progressing aggressively in the direction of growth.

      17th July 2015

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