National Bank of Fujairah Home Finance

Minimum Salary
15.000,00 د.إ

Flat Rate
AED 2.83%

Reducing Rate
4.74 %

Maximum Term
25 Years

Monthly Payment
AED 4,272

Description

From searching for the perfect location to choosing your new furniture, you have enough on your mind when looking for a home. An NBF Home Loan makes it easier for you with minimal approvals and flexible payment periods

Major Advantage: High finance amount, Fixed rate options also available, Favorable for self-employed customers

Features

Interest Rates & Charges:

Reducing Rate (as advertised): Starting from 4.74% p.a.

Flat Rate: 2.83% p.a. (as per 25 years calculation)

Pre Approval Fees: AED 1,050 (adjusted to proc fee)

Processing Fees: 0.525% of the finance amount

Property valuation Fees: AED 2,625

Early Settlement Fees: 1% of outstanding loan amount or AED 10k (whichever is lower)

Partial Settlement Fees: 1% of outstanding loan amount or AED 10k (whichever is lower)

Finance Requirements:

Minimum Income Requirement:

For salaried client: AED 15,000
Expat self-employed client: AED 30,000 (Minimum income)
UAE national self-employed client: AED 25,000 (Minimum income)

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

Salary Transfer: Not compulsory

Minimum Down payment:

For first property (If property price < AED 5M): 20%
For first property (If property price > AED 5M): 25%
For second property: 30%

Key Details:

Maximum Finance Amount: Up to 50 Million (Depends on the profile of customer)

Islamic Finance: No

Maximum Term: 25 years

Finance available for: All ready properties including commercial properties in all Emirates

Insurance (Compulsory):

Life Insurance: 0.02358% per month on outstanding balance

Property Insurance: 0.040% 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 National Bank of Fujairah.
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 6 Months Company Bank Statement.
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.