Emirates NBD Home Loans

Minimum Salary
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Description

Emirates NBD’s Home Loan offers highly competitive starting rates from 2.14% p.a., tenors up to 25 years, financing up to AED 15 million (85% LTV for nationals, 80% for expats), a flat 1.05% processing fee (min AED 5,250), flexible fixed- and variable-rate structures, and transparent, capped fees—ideal for both first-time buyers and refinancers.

Features

Eligibility Criteria

Applicants must be UAE nationals or expatriates aged 21–65 (on maturity) with:

Minimum Down Payment: 15% for nationals; 20% for expats.
Minimum Income: AED 12,000/month salary or AED 3 million annual turnover (self-employed).
Employment Tenure: ≥ 6 months in current role (salaried); ≥ 3 years in business (self-employed).
Credit Profile: Clean UAE credit bureau record.
Salary Transfer: Optional; 0.10% rate discount for salary-transfer customers.

Loan Amount, Tenor & LTV

Loan Amount: AED 250,000–15,000,000.
Tenor: 12–300 months (up to 25 years).
Loan-to-Value: Up to 85% (nationals) / 80% (expats); 75%/70% for off-plan; 70%/60% for land financing.

Interest Rate Options

Intro-Fixed & Variable: Fixed at 2.99%–3.99% p.a. for 2/3/5 years, then variable at EIBOR + fixed margin (e.g., 1 M EIBOR + 1.89% margin).
Fully Variable: EIBOR (1 M/6 M) + fixed margin (1.89%–2.25%), starting from 14% p.a.
APR (Indicative):22%–6.08% p.a., inclusive of interest, fees, and charges.

Detailed Schedule of Fees

Fee Type	Charge
Processing Fee	1.05% of loan amount (min AED 5,250; max AED 31,500)
Valuation Fee	AED 3,150 (completed property); AED 21,000 (self-construction)
Early Settlement / Foreclosure Fee	1.05% of payment amount or AED 10,500, whichever is lower (incl. VAT)
Partial Settlement Fee	1.05% of prepaid amount or AED 10,500, whichever is lower (incl. VAT)
Late-Payment Fee	AED 420 per missed installment (incl. VAT)
Account Statement & NOC	AED 150 per document
Cooling-Off Period	5 working days revocation without penalty
Loan Rescheduling / Cancellation	AED 250 (reschedule) / AED 150 (cancel)
Property Insurance Fee	Charged monthly based on property value at processing; fixed for loan period
Other Legal & Enforcement Costs	Actual solicitor-and-client expenses

Documents Required

Passport copy, Emirates ID, UAE residence visa (expats).
Salary certificate or audited trade license and financials (self-employed).
Last 6 months’ bank statements; liability letters.
Sales & Purchase Agreement; title deed/Oqood; independent valuation report.
Evidence of insurance or Takaful proposals for property.

Additional Info

Competitive Rates: Starting at 14% p.a. with both fixed-introductory and fully variable options.
Flexible Tenors & High LTV: Up to 25 years and up to 85% financing for nationals.
Transparent, Capped Fees: All fees clearly defined and capped, with a simple 1.05% processing charge.
Rate Discounts:10% discount for salary transfers; further relationship banking incentives.
Digital Convenience: Online application, e-Signature, and mobile banking management.
Grace & Cooling-Off: Five-day cooling-off and payment holidays for self-construction projects.
Refinance & Buyout Offers: Zero processing fee on balance transfers of other banks’ mortgages.
Inclusive Insurance: Property insurance fee fixed at processing; customers arrange life insurance separately.