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EMIRATES NBD Home Loan

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EMIRATES NBD Home Loan

Features

  • Loan amount offered up to AED 15 million* or 84 salary multiples, whichever is lower
  • Financing up to 80% of the property value for UAE Expats and 85% for UAE Locals
  • Loan tenor up to 25 years
  • Pre – Approval facility
  • Available for Salaried, Self-employed & Non-resident* individuals

Eligibility

  • Minimum Salary Requirement: AED 10,000 for  UAE local and AED 20000 UAE Expats
  • Minimum Length of Service Required: 6 months for salaried & 2 years for self-employed
  • Salary Transfer: Not compulsory.
  • Minimum Down payment: 15% for UAE Local and 20% for Expats.

Salaried Residents:

  • Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals (original required for verification)
  • Latest Salary certificate addressed to Emirates NBD
  • Latest Pay slips (in case of more than 10% variance in Salary)
  • Previous employment proof if less than 3 years
  • Latest 6 Months Bank statemen

Self-Employed Residents:

  • Copy of valid passport with a valid residence visa for Expatriates and National ID for Nationals (original required for verification)
  • Business related documentation (originals required for verification)
    • Copy of trade license
    • Copy of Chamber of Commerce Registration
    • Copy of Partnership Page in case of multiple partners
    • Copy of Memorandum/Articles of Association
    • Original Audited Financials for the last 2 years
    • Copy of Labor Contract
  • Last 12 months Business Account Statements (6 months is acceptable but not preferred)
  • Last 6 months Personal Account Statements
  • Originals of property details including the
    • Quote/Offer Letter from the seller,
    • Sale and Purchase agreement,
    • Title Deed and Site Plan
    • Receipts of down payment made to the seller

Co borrowers documents (if applicable)

  • Co-borrower’s valid Passport and visa page
  • Income documents (if applicable)
  • If Co-borrower is a company, then MOA & TL to be obtained. Passport Copy of partners also to be obtained

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