Standard Chartered has announced a new offer that provides home buyers in the UAE with a 3.49 per cent rate on their mortgage balance transfer.

The rate is the lowest in the UAE market, it said.

The bank also waived its processing fees on balance transfer applications. The offer is available for customers in the UAE until June 30, it said. The rate is applicable for the first 12 months; thereafter, the rate will be based on the Standard Chartered Base Lending Rate plus a prescribed rate. Standard Chartered also offers new home buyers a mortgage rate of 3.99pc, also applicable for the first year, the bank said.

Jaydeep Gupta, head of consumer banking, UAE, Standard Chartered Bank, said: “As part of our continuous focus on the UAE market, we have established ourselves as a key player in the UAE mortgage market over the last few years. Standard Chartered continues to offer its customers with world-class banking products aimed at financially empowering our customers in the UAE.”  - TradeArabia News Service