Buying a home today is easier than ever, but it still requires careful planning and a big investment. Many homebuyers need help with how to prepare financially. While getting a mortgage loan is straightforward, choosing a trustworthy and customer-friendly lender is important. In the UAE, Emirates NBD Bank is a great choice for a mortgage loan. This guide will give you all the important information about Emirates NBD home loan, including who can apply, the types of loans, how to apply, and tips for getting your loan approved.
Emirates NBD Overview:
Founded in 1963, Emirates National Bank of Dubai is the first national bank in the Emirates. Today, it is one of the leading banking group in the UAE and a key player in the global digital banking industry. With branches across Asia and Europe, Emirates NBD has one of the strongest banking networks in the world. In 2007, it successfully merged with Emirates Bank International (EBI).
Why Choose Emirates NBD Home Loans?
Emirates NBD is a top bank in the UAE for several reasons:
- Strong Reputation: It is one of the biggest banks in the UAE and is known for being reliable and keeping customers happy.
- Customer-Focused Services: They offer personalised services to meet the different needs of their customers.
- Innovative Solutions: Emirates NBD always finds new ways to offer the best and most flexible financial solutions.
Types of Emirates NBD Home Loans:
Emirates NBD provides several types of home loans, each designed to meet specific needs:
- Home Loans for Self Construction
- Home Loans for UAE Nationals
- Home Loans for Expatriates
- Loan Against Property for UAE Nationals
- Loan Against Property for Expatriates
- Mulhaq Loans
- Government Housing Program
Best Emirates NBD Home Loan in the UAE:
Given below are the top Emirates NBD mortgage loans that you can apply for if you are in the UAE:
1. Home Loans for Self Construction
Features:
- Loan Amount: Up to AED 25 million.
- Interest Rate: fixed interest rate available
- Repayment Term: Up to 25 years.
- Benefits
- Borrow up to 100% of the property’s value
- Get free life and property insurance
- No fee to apply
- Make partial payments for free, up to 20% of the loan amount
- Mortgages available for government housing programs
- You can apply with a co-borrower
Eligibility:
- Minimum monthly salary: 10,000.
- UAE Nationals and expatriates.
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
2. Home Loans for UAE Nationals
Features:
- Loan Amount: Up to AED 25 million.
- Repayment Term: Up to 25 years.
- Benefits
- Get financing up to 85% of the property’s value
- Get a free life and property insurance
- No application charges.
- Get a free partial settlement up to 20% of the loan amount
- Mortgage options for government housing programs
- You can even apply with a co-borrower
Eligibility:
- UAE Nationals.
- Minimum monthly salary: AED 10,000.
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
3. Home Loans for Expatriates
Features:
- Loan Amount: Up to AED 25 million.
- Interest Rate: Competitive variable interest rates.
- Repayment Term: Up to 25 years.
- Benefits
- Borrow up to 80% of the property’s value
- Free life and property insurance
- No application fee
- Free partial payments of up to 20% of the loan amount
- You can apply with a co-borrower
Eligibility:
- Expatriates owning a property in the UAE.
- Minimum monthly salary: AED 15,000.
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
4. Loan Against Property for UAE Nationals
Features:
- Loan Amount: Up to AED 15 million.
- Interest Rate: Competitive rates.
- Repayment Term: Up to 25 years.
- Benefits
- Get up to 80% of the property value financed
- Includes free life and property insurance
- No fee to apply
- Make free partial repayments of up to 20% of the loan amount
- Option to apply with a co-borrower
Eligibility:
- Expatriates owning property in UAE.
- Minimum salary: AED 15,000.
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
5. Loan Against Property for Expatriates
Features:
- Loan Amount: Up to AED 25 million.
- Interest Rate: Competitive rates
- Repayment Term: Up to 25 years.
- Benefits
- Borrow up to 80% of your property’s value
- Get complimentary life and property insurance
- No fee for applying
- Free partial repayment options up to 20% of the loan amount
- Apply together with a co-borrower
Eligibility:
- Expatriates owning property in UAE.
- Minimum monthly salary: AED 15,000.
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
6. Mulkah Loans
Features:
- Loan Amount: Up to 25 million
- Interest Rate: Competitive variable interest rates.
- Repayment Term: Flexible terms up to 25 years.
- Benefits
- Fund up to 70% of your property’s value
- Includes complimentary life and property insurance
- No fee to apply
- Free partial repayments up to 20% of the loan amount
- Financing available for government housing programs
- Option to apply with a co-borrower
Eligibility:
- Age: 21 years
- UAE nationals
- Minimum monthly salary: AED 10,000
Required Documents:
- Emirates ID: For UAE nationals and residents
- Passport Copy: For expatriates
- Salary Certificate: Proof of income
- Bank Statements: Last six months
- Property Documents: Sale agreement or booking form
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
7. Government Housing Program
Features:
- Loan Amount: Up to AED 800,000
- Repayment Term: Up to 25 years.
- Benefits
- No need for salary transfer with this Emirati home loan
- Ready property from SZHP
- Zero Processing Fee
- Ready property from developers or secondary market
- Self-construction projects
- Dedicated and expedited processing
- Simple valuation process in a single visit
Eligibility:
- UAE Nationals employed in the public sector.
- Minimum monthly salary requirement as per government regulations.
Required Documents:
- Valid Emirates ID and passport.
- Salary certificate and bank statements.
- Property documents and government housing approval.
- Application form and information disclosure form
- Latest 2 years of audited company financials
- Construction cost and Bill of Quantities
- Title Deed
- Contractor’s Trade License
- VAT registration certificate
How to Apply?
- Visit this URL.
- Scroll down and click “Apply Now”.
- Enter your name, email, phone number, employment status, property type, employer name, and monthly income.
- Click “Continue Application”.
- And similarly follow the on-screen instructions to apply for the loan.
- Once the bank authorities receive your application, they will contact you regarding the next procedure.
Emirates NBD Home Loan Requirements:
To apply for the Emirates NBD mortgage loan, you need to fulfil the following requirements:
Eligibility Criteria:
- Nationality: UAE Nationals, GCC Nationals, and Expatriates.
- Age: The minimum age for loan maturity is 21; the maximum age for salaried employees is 65, and for self-employed individuals, it is 70.
- Employment: Both salaried employees and self-employed individuals are eligible.
- Income: The minimum monthly income requirement varies based on the loan amount and property value. (Approx. AED 10,000 to 15,000)
Documentation:
For Salaried Individuals:
- Passport and Emirates ID
- Salary certificate addressed to Emirates NBD
- Bank statements from the last 6 months
- Pay slips from the last 6 months (if your salary varies by more than 10%)
For Self-Employed Individuals:
- Passport and Emirates ID
- Copy of Trade License
- Memorandum of Association (MOA) with all amendments
- Bank statements from the last 6 months
- Audited financial records for the last 2 years
For Co-Borrowers (if applicable):
- Co-borrowers Passport and Emirates ID
- Income proof (if applicable)
- Pay slips from the last 6 months (if salary varies by more than 10%, if applicable)
- Bank statements from the last 6 months (if applicable)
- If the co-borrower owns a business, provide MOA and Trade License
If Transferring Your Loan to Emirates NBD:
- Passport and Emirates ID
- Property documents and title deed
- Existing bank loan documents
Note: These are the basic documents that every bank asks for upon a loan. The requirements can vary depending on the bank and loan type. To learn more about the documents, visit the website.
Emirates NBD Home Loan Interest Rate:
Estimated rate: 7.20% per year (reducing).
According to the bank’s credit policy and central bank regulations, the final rates and benefits depend on the customer’s segment, eligibility, and borrowing capacity.
Emirates NBD Home Loan Calculator
Emirates NBD has an online home loan calculator to help you with your monthly payments and how much you can borrow. Here’s how to use it:
How to Use the Emirates NBD Home Loan Calculator?
- Visit the Website:
- Go to any of the Emirates NBD Home Loan pages.
- Enter the Required Details:
- Loan Amount: Scroll down and type in the amount you want to borrow.
- Loan Tenure: Choose how long you will take to repay the loan. This is usually between 5 and 25 years. The results are shown below, as shown in the picture above.
Understanding the Results
- Monthly Repayment: The amount you must pay monthly, including the loan and interest.
- Total Interest Payable: The total interest you will pay over the loan period.
- Maximum Loan Amount: You can borrow most based on your income and other details.
How to Apply for Emirates NBD Home Loan?
1. Log In or Sign Up:
- Log in to your Emirates NBD account. If you don’t have an account, create one.
2. Go to Home Loans:
- Navigate to the “Home Loan” section under the “Loans” menu.
- Click on “Apply Now”.
3. Fill in Your Details:
- Enter your name, email, phone number, and employment status.
4. Submit Your Application:
- Click “Continue Application” to get your pre-qualification letter.
5. Further Assistance:
- Emirates NBD officials may contact you for further steps.
Emirates NBD Home Loan Contact Number:
You may contact the support team at 600 540000 in case of any queries.
Final Takeaway:
So, that is everything you need to know to apply for the Emirates NBD home loan. Emirates NBD mortgage loans provide various options for different financial needs and goals. By learning about the different loan types, who can apply, and what is the application process, you can make a smart choice and move closer to owning your dream home. Imagine waking up in a house that’s truly yours, with the financial support tailored just for you by Emirates NBD. Start your journey towards homeownership with confidence and ease today!
Want to apply for an Emirates NBD personal loan in the UAE but are unsure where to start? Well, we’ve got you covered. Check out our guide to learn about the application process, eligibility criteria, requirements, and other details about the loan.
Frequently Asked Questions (FAQs):
Q. What is the minimum salary for a home loan in the UAE?
The minimum salary for a home loan in the UAE is AED 15,000 for residents or AED 10,000 for UAE Nationals, with additional requirements for expats including 3 years of UAE employment, 1 year in the current job, and age limits of 65 for salaried or 70 for self-employed at loan maturity.
Q. How many days does it take to get the NBD loan?
It can take up to 10 business days to process your application and disburse the loan after the bank receives all the necessary information and documents.
Q. Is property insurance mandatory?
Yes, property insurance is mandatory to protect your investment. Emirates NBD offers comprehensive insurance options for your convenience.
