NBF (National Bank of Fujairah) Home Loans

Minimum Salary
0,00 د.إ

Description

NBF’s Home Loan offers fixed and variable rate options, with reducing rates from 3.15% p.a., financing up to AED 20 million, tenors up to 25 years, a 1.00% processing fee, and transparent, capped charges—including life and property insurance—paired with quick approvals and flexible repayment features.

Features

  1. Eligibility Criteria

Applicants must be UAE Nationals or expatriates aged 21–65 (at maturity), with:

  • Minimum Salary: AED 15,000/month
  • Employment Tenure: ≥ 6 months in current role (salaried); ≥ 3 years’ business history (self-employed)
  • Credit Profile: Clean UAE credit bureau record
  • Debt Ratio: ≤ 50% of gross income
  • Salary Transfer: Not mandatory, but may be required per approval
  1. Loan Amount, Tenor & LTV
  • Loan Amount: AED 100,000–20,000,000
  • Tenor: 24–300 months (2–25 years)
  • LTV Ratios (Property Value ≤ AED 5 M):
    • Nationals: up to 85%
    • Expats: up to 80%
  • LTV (Property Value > AED 5 M):
    • Nationals: up to 75%
    • Expats: up to 70%
  • Subsequent Properties: LTV capped 65% (nationals) / 60% (expats)
  1. Interest Rate Options
  • Fixed Rate: Locked for up to 5 years, flat rates from 89%–3.50% p.a., then reverts to 3 M EIBOR + margin (e.g., + 1.00%) with a floor of 3.50%
  • Variable Rate: Reducing balance rate 15% p.a. (equivalent APR ~6.76%); or customizable at 1 M/3 M EIBOR + spread
  • Rate Review: Variable reprices at chosen EIBOR frequency; fixed steps up post-initial period

 

Detailed Schedule of Fees

Fee Type Charge
Processing Fee 1.00% of loan amount (one-time at disbursement)
Documentation & Study Fee AED 10,500 (incl. VAT)
Valuation Fee AED 3,150 per property
Life Insurance Premium 0.02593% per month on outstanding balance
Property Insurance Premium 0.04% p.a. on property value
Partial/Early Settlement Fee 1.00% of prepaid/outstanding amount (or AED 10,000, whichever is lower)
Late Payment Charge AED 500 donation per missed installment (+ legal costs if any)
Cooling-Off Period 5 working days revocation without penalty
Account Statement & NOC AED 100–150 per document
Loan Rescheduling/Cancellation AED 250 (reschedule) / AED 150 (cancel)
Legal & Enforcement Costs Actual solicitor-and-client expenses

 

Documents Required

  • Passport copy, Emirates ID, UAE residence visa (expats)
  • Salary certificate or audited financials & trade license (self-employed)
  • Last 6 months’ bank statements; liability letter
  • Sales & Purchase Agreement; title deed/Oqood; independent valuation report
  • Signed undated post-dated cheques (120% of loan); promissory note
  • Takaful/life insurance proposals naming NBF as beneficiary

Additional Info

  • Flexible Rate Structures: Fixed-for-period and reducing balance options to suit preferences.
  • High Financing & Long Tenors: Up to AED 20 million over 25 years for broad affordability.
  • Transparent Fees & Insurance: All premiums and fees clearly defined and financed within the facility.
  • Quick Processing: Decision within 14 business days post-submission of all documents.
  • Partial Prepayment & Sale-Driven Waivers: Competitive caps and no fee if early settlement is property sale-driven.
  • Cooling-Off & Consumer Protection: Five-day revocation and clear guidance on customer obligations.
  • Government Housing Support: Specialized financing under UAE Nationals’ housing schemes for construction and ready properties.

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