• National Bank of Umm Al-Qaiwain Home Loan in the UAE

    NBQ

    NBQ Home loans with 2 Home Finance Schemes

    National Bank of Umm Al Qaiwain (NBQ) offers you flexible and affordable home loan options to turn your dream of owning a home into a reality. Now you can move into your own home using our hassle-free home loan processes and flexible payment methods.


    You’re probably eligible for National Bank of Umm Al-Qaiwain Home Loan if you are

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    National Bank of Umm Al-Qaiwain Home Loan Minimum Age

    At least 21 years old

     National Bank of Umm Al-Qaiwain Home Loan Maximum Age

    Less than 65 years old

    National Bank of Umm Al-Qaiwain Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    National Bank of Umm Al-Qaiwain Home Loan Minimum Income

    Earn more than the minimum income required


    Your National Bank of Umm Al-Qaiwain Home Loan amount eligibility is based on these factors

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    National Bank of Umm Al-Qaiwain Home Loan Minimum Salary

    No Info

    National Bank of Umm Al-Qaiwain Home Loan Maximum Loan to property value

    Loan capped is AED 5 million

    National Bank of Umm Al-Qaiwain Home Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible National Bank of Umm Al-Qaiwain Home Loan amount by these steps

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    National Bank of Umm Al-Qaiwain Home Loan Add Spouse as Co-applicant

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

    National Bank of Umm Al-Qaiwain Home Loan Maximum Tenure

    Choose longer tenure loan up to 20 years

    National Bank of Umm Al-Qaiwain Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Rakbank Home Loan Interest RatesUpdated on 09 Dec 2016

    Rakbank Home Loan Details
    Interest Rate (Monthly reducing balance) 2.99%

    Know your Bank - National Bank of Umm Al Qaiwain (NBQ)

    Established in 1982, the National Bank of Umm Al Qaiwain (NBQ) has about thirty branches around the seven Emirates. The National Bank of Umm Al Qaiwain re-launched in 2005 with a new corporate identity as NBQ. NBQ offers a wide range of services and products specifically tailored to meet its customers' needs. NBQ has been constantly striving to innovate, strengthen its operations and upgrade its technology to deliver on customer requirements. NBQ has won awards for its commitment towards the society and for its role in creating job opportunities for UAE nationals. The bank was honoured by the Ministry of Labor and Social Affairs for its efforts in Emiratisation and effectively developing and hiring human resources.

    NBQ offers you a variety of options with easy documentation, simplified processes and competitive interest rates. The NBQ home loan also covers costs of reconstruction and renovation of existing property. No financial penalties are levied for pre-closure of the loan after the first three years. Customers also have the option of overpaying during the entire tenure of the home loan.

    There are two home loan options available to UAE nationals.

    Bayti - Housing loan without Mortgage

    An attractive home loan scheme offered by the bank with the following features:

    • Available with salary transfer up to AED 4 Million
    • Attractive profit rates
    • Repayment/Loan periods up to 180 months
    • High margins of finance
    • ATM Cards at no additional cost

    BAYTT AL TAYSEER - Islamic Housing Finance without Mortgage

    Baytt Al Tayseer based on the concept of organised Tawaruq, which involves buying an item from a trader in instalments, is offered at NBQ. This has been approved by the bank's Shari'ah Board.

    • Available with salary transfer up to AED 2.5 Million
    • Profit rates that are competitive and attractive
    • Loan tenures up to 180 months
    • High margins of finance

    How do you apply for an NBQ home loan?

    These loans can be availed of by visiting the nearest NBQ branch at Umm Al Qaiwain, Dubai, Abu Dhabi, Al Ain, Ghusais, RAK and Sharjah. Alternatively, the bank will reach out to applicants once contacted.

    Other products offered by National Bank of Umm Al-Qaiwain are:

    Frequently Asked Questions - FAQs

    1. Is Islamic banking available at National Bank of Umm Al-Qaiwain?
    2. Yes. NBQ has notable Islamic banking schemes, which provide attractive interest and repayment options. In general, these schemes are based on Shari'a laws and draw upon the financing available for Islamic financial systems. The Islamic housing without mortgage is called Baytt Ay Tayseer.

    3. What is Baytt Al Tayseer?
    4. Baytt Al Tayseer, an Islamic housing finance without mortgage, is based on the concept of organised Tawaruq, which involves buying an item from a trader in instalments, is offered at NBQ. This has been approved by the bank's Shari'ah Board.

    5. Do I require any insurance if I take out a home loan with NBF?
    6. Yes. Life and Property insurance are both mandatory requirements.

    7. What is the Insurance Coverage on home loans to UAE Nationals?
    8. NBQ offers a unique protection benefit which safeguards you and your family. The offer is designed to ensure continued financial stability to you and your family by taking away the financial burden on them to pay loan outstanding in the event of your unfortunate Loss of Life or Permanent Total Disablement. The protection benefit would provide you absolute peace of mind by waiving off your entire loan outstanding with NBQ in case of any eventuality subject to terms and conditions of the Insurance Company

    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 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.

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