Emirates NBD Home/Mortgage Loan Eligibility Criteria in UAE

Emirates NBD is the leading banking institution in the MENAT (Middle East, North Africa, and Turkey) region that offers various banking products and services to UAE nationals and expatriates. The bank has established its name in retail banking, institutional banking, corporate banking, investment banking, asset management, brokerage options, and more.

The bank is also leading its operations in providing home loan in UAE. Emirates NBD home loan products offer the flexibility to customers to either renovate their existing home or buy a new one. One of its best features is its availability to both UAE nationals and expatriate at competitive interest rates.

Emirates NBD Home Loan Eligibility Criteria in UAE

Emirates NBD provides multiple types of home loans as listed below -

1. Home Loans for UAE Nationals
2. Home Loans for Expatriates
3. Loan Against Property for UAE Nationals
4. Loan Against Property for Expatriates
5. Commercial Properties Financing
6. Mulhaq Loans

Tabled below is a detailed Emirates NBD home loan eligibility criteria for each of its products:

Parameters	Home Loan for UAE Nationals	Home Loan for Expatriates	Loan Against Property for UAE Nationals	Loan Against Property for Expatriates	Commercial Properties Financing	Mulhaq Loans
Minimum Salary	AED 10,000	AED 15,000	AED 10,000	AED 10,000	-	AED 10,000
Residency Status	UAE Nationals	Expatriates	UAE Nationals	Expatriates	Only UAE registered business and completed properties in Abu Dhabi and Dubai	UAE Nationals
Applicant Type	Both salaried and self-employed	Both salaried and self-employed	Both salaried and self-employed	Both salaried and self-emloyed	Available only for completed, handed over and shell and core offices and retail outlets	Both salaried and self-employed
Other Criteria (If Any)	-	-	-	-	-	Minimum age - 21 years

Documents Required for Emirates NBD Home Loan

For an Emirates NBD loan, you must provide specific documents based on your application. Below is a simple list of required documents:

Salaried Individuals

• Recent six months bank statements
• Proof of previous employment if you are employed in currency job for less than 3 years
• Latest salary certificate. It should be addressed to Emirates NBD.
• If there is a salary variance of more than 10%, recent pay slips are also required.

Self-Employed Individuals

• Recent six months bank statements
• Audited financials for the last two years
• Copy of trade license
• Memorandum of Association, encompassing all amendments

Co-Borrowers

Co-borrowers are individuals or entities that jointly apply for a loan, sharing the responsibility of repayment. When applying for a home loan with Emirates NBD, co-borrowers are required to provide specific documentation -

• Income documents. If required
• Co-borrower’s passport and visa page.
• MOA, passport, and trade license if co-borrower is a company

In addition to the above documents, both salaried and self-employed applicants are also required to submit the identification documents, including original and copy of Emirates ID, and a passport copy with resident visa page. In case, the visa is stamped on old passport, old passport copy is needed.

Note: These are the standard document requirements for a home loan. Emirates NBD may require some additional documents depending on your profile.

Wrapping Up

Obatining a home loan from Emirates NBD, a preeminent banking institution in the MENAT region, requires adherence to specific documentation and eligibility criteria for home loan. With its comprehensive offerings catering to both UAE nationals and expatriates, the bank ensures flexibility and competitive rates to its customers. The home loan options span from purchasing a new residence to renovating an existing one, or even financing commercial properties.

While the article has provided a detailed breakdown of the eligibility parameters and necessary paperwork, it's essential to note that these are standard prerequisites. Potential borrowers must be diligent, ensuring they meet all criteria and furnish all necessary documents. Moreover, they should stay prepared for additional requirements, depending on their individual profile, ensuring a seamless loan application process with Emirates NBD.

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