Emirates NBD has expanded its home loan offering to expatriates residing in the UAE with a special mortgage package available for a limited period starting this month.

It provides attractive interest rates starting from 4.49 per cent per annum, a statement from the bank said.

Customers can also opt to fix their interest rate and instalments for up to seven years, the statement said.

Apart from the low interest rates, there are extensive savings possible, with 50 per cent discount on processing fees, free property valuation, and free life, property and home contents insurance for the first year.

“With the stabilisation of the residential freehold property market and the growth in the economy, more and more expatriates are looking to buy property,” said Shekhar Krishnamurthy, head, retail assets & liabilities, Emirates NBD. “This special offer on mortgage loans for expatriates has been developed in response to the evolving needs of our customers, and will offer them a variety of convenient home financing options to choose from.”

The home loan offer which provides up to 85 per cent financing for property, is available for both salaried and self-employed expatriate residents, the statement said.

As part of the offer, customers who have existing mortgage loans with other banks can also transfer their loans to Emirates NBD at special discounted prices, while property owners can avail of Emirates NBD’s ‘loan against property’ option to raise additional financing. – TradeArabia News Service