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Emirates NBD Home Finance

Emirates NBD Home Finance
Minimum Salary

15,000 AED

Flat Rate

2.6 %

Reducing Rate

4.39%

Max. Term

25 Years

Salary Transfer

No

Islamic Finance

No

Description

Home Loan for Expatriates.

Eyeing a property in Dubai or Abu Dhabi? This is the perfect home loan package for you 

Major Advantage: High finance amount, Fixed rate options also available

Major Concern: High Minimum salary requirement 

Rate Card

Reducing Balance Rate     

 

Starting Rate

Salaried (Salary Transfer Required)

4.39%

Salaried  ( No Salary Transfer)

4.39%
All Other Segment 5.39%

 

Features

Interest Rates & Charges:

Reducing Rate (as advertised): Starting from 4.39% p.a.

Flat Rate*: 2.60% p.a. (Approximate calculation as per 25 years tenure)

Processing Fees: 

No Salary Transfer Salary Transfer/ Buyout All Other Segment
0.5% 0% 1%

Property valuation Fees: AED 3,000 + Vat  (Refundable if taking variable rate)

Early Settlement Fees: 1% of outstanding Loan or AED10,000 (whichever is lower)

Partial Settlement: 20% of the outstanding free

 

Finance Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months for salaried; 2 Years for self-employed

Salary Transfer: Required for some rate options

Minimum Down-payment:

  • For first property (If property price < AED 5M): 20% for Expats
  • For first property (If property price > AED 5M): 30% for Expats
  • For second property: 40% for Expats

 

Key Details:

Maximum Finance Amount: AED 25,000,000

Islamic Finance: No

Maximum Term: 25 years

Finance available for: All properties with title deed in Dubai, Abu Dhabi

 

Insurance (Compulsory):

Life Insurance: 0.016% per month

Property Insurance:  0.12% p.a. (on property value) 

Documents Required

Common Documents:  

  • Valid Passport, Resident Visa and Emirates ID Copy.
  • Offer Letter Copies of All Personal Ongoing Finance.
  • Rental Income Document (If any).                      
  • Liability Letter (In case of Buyout Finance only).
  • Relevant property Documents.

 

Salaried Client Documents:

  • Latest Salary Certificate addressed to Emirates NBD.
  • Latest 6 Months Personal Bank Statement.
  • Six months Pay slips if there is variance in Salary.

 

Self-Employed Client Documents:

  • Valid Company Trade license.
  • MOA (Memorandum of Association) including all amendments.
  • Latest 6 Months Personal Bank Statement.
  • Latest 1 Year Company Bank Statement.
  • Audit Financials of last 2 years.
  • Offer Letter Copies of All Company Ongoing Finance.
Additional Info
  • All info mentioned can change at any point of time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Reducing rate is converted into flat rate as per 25 years calculation.
  • Terms and conditions apply. 
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