Emirates NBD is one of the most prominent financial institutions in the UAE, offering an extensive range of home loan products designed to cater to the diverse needs of both expatriates and UAE Nationals. Whether you are purchasing your first home, building a property, or looking to finance renovations through a loan against your existing property, Emirates NBD offers flexible terms, competitive rates, and high loan limits to make homeownership accessible.
This guide will explore the various home loan options available through Emirates NBD, with a special focus on expatriate loans, while also covering the eligibility requirements, documentation, and other important details.
Expatriates residing in the UAE can take advantage of Emirates NBD’s dedicated home loan products, which are tailored to help non-UAE citizens buy residential properties in key markets such as Dubai and Abu Dhabi. These loans are structured to provide high financing limits, extended repayment terms, and competitive interest rates.
1. High Loan Amounts :
Emirates NBD offers expatriates loans of up to AED 15 million, or 84 times their monthly salary, whichever is lower. This high loan ceiling gives expatriates access to a broad range of residential properties across prime locations in the UAE.
2. Financing Up to 80% :
For expatriates, Emirates NBD finances up to 80% of the property’s value. This means that expatriates only need to provide a down payment of 20%, making homeownership more accessible for many first-time buyers.
3. Flexible Loan Tenor :
The loan repayment term can extend up to 25 years, allowing borrowers to spread out their payments and reduce the monthly financial burden.
4. Competitive Interest Rates :
Emirates NBD offers both fixed and variable interest rates for expatriates. Fixed rates are offered for an introductory period of 2, 3, or 5 years, after which the interest rate becomes variable and is linked to the Emirates Interbank Offered Rate (EIBOR).
5. Pre-Approval Facility :
Expats can benefit from Emirates NBD’s pre-approval facility, which allows them to secure financing before starting the home search. Pre-approval provides clarity on how much they can borrow, simplifying the home-buying process and strengthening their negotiation position.
Minimum Salary : Expatriates must have a minimum salary of AED 20,000 per month to qualify for a home loan.
Employment : Applicants must be salaried or self-employed, with salaried individuals typically requiring at least three years of continuous employment. Self-employed individuals must provide proof of business income and audited financials for two years.
Emirates NBD also offers tailored home loans for UAE Nationals, with special features designed to support local citizens in purchasing or constructing homes. These loans provide higher financing limits and more flexible terms, ensuring that UAE Nationals can easily achieve their homeownership goals.
1. Higher Financing Limits :
UAE Nationals can benefit from financing of up to 85% of the property’s value, with a maximum loan amount of AED 15 million or 96 times their monthly salary, whichever is lower.
2. Loan Tenor :
The loan tenor for UAE Nationals extends up to 25 years, providing flexible repayment options that reduce the financial strain of monthly installments.
3. Government Housing Support :
Emirates NBD also offers loans under various government housing programs, ensuring that UAE Nationals can benefit from state support in acquiring or constructing their homes.
For both expatriates and UAE Nationals who prefer building their homes from the ground up, Emirates NBD offers Self-Construction Loans. These loans are disbursed in stages, based on the progress of construction, ensuring that funds are available as and when required.
1. High Financing for Construction :
Nationals can receive up to 85% financing, while expatriates can receive up to 80% for the total construction cost. This financing structure supports homeowners in managing their cash flow during the construction process.
2. Loan Disbursement in Stages :
Emirates NBD disburses loan amounts based on the completion of various construction stages, ensuring that borrowers only receive the funds they need at each phase of construction.
3. Competitive Interest Rates :
Interest rates for self-construction loans are competitive and can be customized based on the borrower’s profile and preferences.
For homeowners looking to leverage their existing property to secure additional funds, Emirates NBD offers Loan Against Property. This loan product is available to both expatriates and UAE Nationals, providing the liquidity needed for renovations, investments, or other financial needs.
1. High Loan Amounts :
Emirates NBD allows borrowers to access up to 80% of their property’s current value, providing significant liquidity for those who need to use their home as collateral.
2. Flexible Tenor :
The loan against property can be repaid over a maximum period of 25 years, making it easier for borrowers to manage their monthly obligations.
3. Competitive Rates :
The interest rates for this product are competitive, and borrowers can choose between fixed and variable rate options.
Eligibility criteria include owning a property and having sufficient income to repay the loan. Required documents include Emirates ID, proof of property ownership, and proof of income【6†source】.
Emirates NBD also offers Mulhaq Loans, which are designed to support UAE Nationals participating in government housing programs. These loans provide financing to build homes on land granted by the government or to complete housing projects under the supervision of government authorities.
1. Customized Financing :
The Mulhaq Loan is specifically designed for government housing schemes, ensuring that borrowers receive the necessary funds to complete their homes.
2. High Financing :
Loans cover up to 85% of the construction cost, helping UAE Nationals finance their homes without significant upfront costs.
Emirates NBD provides a wide range of home loan products to meet the unique needs of both expatriates and UAE Nationals in the UAE. Whether you are purchasing a ready property, constructing your dream home, or using your existing property as collateral, Emirates NBD’s home loan solutions offer competitive rates, flexible repayment options, and substantial financing limits.
Disclaimer: The information provided above is based on publicly available sources from ENBD as of 6th October and is intended for informational purposes only. It is not intended to provide financial or legal advice. While we strive to ensure that the information is accurate and up-to-date, details such as interest rates, loan amounts, and terms may change. We recommend that customers confirm the latest details directly with ENBD before proceeding with any home loan application. Please consult a qualified financial advisor for personalized advice regarding your specific circumstances.
Emirates NBD offers a variety of home loans, including :
Home loans for expatriates
Home loans for UAE Nationals
Loans for self-construction
Loans against property
Mulhaq loans for government housing programs
Each product is tailored to suit different needs and profiles, providing flexibility in loan amounts, interest rates, and repayment terms.
The maximum loan amount you can borrow depends on your income and the type of home loan you are applying for. For expatriates, the maximum loan is AED 15 million or 84 times your monthly salary, whichever is lower. UAE Nationals may be eligible for loans up to AED 15 million or 96 times their monthly salary.
For expatriates, the minimum salary required to qualify for a home loan is AED 20,000 per month. This requirement ensures that applicants have sufficient income to meet their repayment obligations.
Expatriates can finance up to 80% of the property’s value, while UAE Nationals may be eligible to finance up to 85%. This means that the borrower will need to cover the remaining percentage as a down payment.
Emirates NBD offers flexible repayment terms for its home loans, with a maximum tenor of 25 years. This extended repayment period allows borrowers to spread their loan payments over a longer duration, making monthly payments more affordable.
Emirates NBD provides both fixed and variable interest rate options. The fixed rate applies for an introductory period of 2, 3, or 5 years, after which the interest rate becomes variable and is linked to the Emirates Interbank Offered Rate (EIBOR).
Yes, Emirates NBD offers a pre-approval facility, which allows borrowers to understand their budget and borrowing capacity before they start looking for a property. This simplifies the home-buying process and strengthens the buyer’s negotiating position.
The required documents include:
Valid Emirates ID and passport (with visa page)
Salary certificate or proof of income
Bank statements for the last six months
For self-employed individuals: Trade license and audited financials.
Yes, there is an early settlement fee. Emirates NBD charges 1.05% of the outstanding loan amount or AED 10,500, whichever is lower, if you choose to repay your loan early.
Yes, Emirates NBD charges a processing fee of 1.05% of the loan amount. This fee is payable at the time of application and covers the administrative costs of processing your loan.
For completed properties, the valuation fee is AED 3,150. If you are applying for a self-construction loan, the valuation fee is AED 21,000, as the bank needs to evaluate the construction plans and property value.
Yes, both expatriates and UAE Nationals can apply for a Loan Against Property (LAP). This product allows homeowners to use their property as collateral to secure funds for various purposes such as renovations, investments, or consolidating debts.
Yes, Emirates NBD offers self-construction loans for both UAE Nationals and expatriates. These loans provide funding at different stages of construction and can cover up to 85% of the construction cost for UAE Nationals and up to 80% for expatriates
Yes, Emirates NBD offers Mulhaq loans and other products designed for UAE Nationals participating in government housing programs. These loans help Nationals finance the construction or purchase of homes with government support.
The processing time for a home loan with Emirates NBD varies based on the complexity of the application and the documentation provided. However, the bank strives to process applications efficiently, especially if all documents are submitted correctly. You can expect to receive approval within a few days after all required documents are submitted.
FABCashback Credit Card
Minimum Salary AED 5,000
FIXED RATE 3.50%
LOAN AMOUNT 3.50%
REDUCING RATE 3.50%
DOWN PAYMENT 3.50%
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