NBF Islamic Home Finance

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  • Flexible repayment periods up to 25 years
  • Processing fees as low as 1%
  • Profit rates starting at 2.75% per year

Get Home & Mortgage loan at Lowest Interest Rate

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Get Home & Mortgage loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

Owning a home is the dream of every individual. However, a lack of funds can cause hindrances in the way of fulfilling this dream. This is when the NBF Islamic home finance comes to the rescue. 

NBF Islamic Home Finance – Overview

Home finance, or home loan in UAE, however, you choose to describe it, the meaning remains the same. It is nothing but a traditional credit option that enables you to purchase a home. You can get a loan amount depending on your property’s current market value and they repay it as per the terms you have agreed upon.

Moreover, the NBF Islamic home finance follows the principles of Ijara and brings forth a substantial loan amount at a competitive profit rate and quick approval. Additionally, an NBF relations manager will guide you throughout the application process, which makes the process even more convenient.

Buy your dream home through Home Loan @ lowest Rate in uae

Features and Benefits of NBF Islamic Home Finance

The Islamic NBF home loan extends a host of benefits to applicants, such as:

  1. Finance up to AED 20 million- With an 80% loan to value ratio, NBF extends a loan amount as high as AED 20 million. This will help cover most of the costs related to your house purchase. 
  2. Nominal Profit Rate- Since this financing option follows the Islamic banking rules, you have to pay the profit rate instead of the interest rate. This rate further keeps on decreasing as you repay the loan amount.
  3. Flexible Repayment Tenure- This home loan comes with a flexible repayment tenure of up to 25 years. So, you do not have to worry about paying the entire amount within a short span, as you get enough time to plan your finances.
  4. Transparent Fees and Charges- The Islamic NBF mortgage loan follows an EIBOR-linked pricing structure. Thus, all the fees and charges stay transparent, reducing the chances of any hidden fees.
  5. Transfer of Existing Home Loan - With NBF, you can also transfer your existing home loan to enjoy a nominal profit rate and other affordable terms and conditions.

Documents Required to Apply for NBF Islamic Home Finance

You can receive approval for an Islamic mortgage loan from NBF only upon submitting the essential documents. Typically, the bank asks for the following documents:

  • A copy of your passport
  • Salary certificate from your employer
  • Bank account statements for the previous 6 months
  • Property-related documents

Ensure to keep these documents handy beforehand for a streamlined and hassle-free loan application procedure.

Eligibility to Apply for NBF Islamic Home Finance

In order to obtain a mortgage loan in UAE under NBF Islamic home finance, you need to meet a few eligibility parameters. Find them below:

Age

At least 21 during the time of application and maximum 70 at the time of maturity

Employment type

Salaried and self-individual

Salary

Minimum AED 15,000 per 

Nationality

Should be a resident of any of the Emirate countries

Meeting these parameters would maximise your chances of receiving a higher loan amount at a lower profit rate. 

Steps to Apply for NBF Islamic Home Finance

NBF in UAE offers a convenient application process for prospective home loan borrowers. You simply need to follow these steps:

  • Step 1: Visit the official website of NBF Islamic
  • Step 2: Click on Financing and then go to home loan
  • Step 3: On the next page, click on apply now
  • Step 4: Enter a few details, such as your name, contact details, email address, emirate, monthly income and more
  • Step 5: Complete the CAPTCHA and click on send enquiry

After following these steps, the bank’s representative will get in touch with you regarding further steps. Apart from that, you can also apply for a home loan from Policybazaar’s website. Here you can compare multiple loan offers and find one that meets your requirements.

Buy your dream home through Home Loan @ lowest Rate in uae

Top Reasons to Choose NBF Islamic Home Finance in UAE

National Bank of Fujairah offers a substantial loan amount at affordable rates. Moreover, availing a mortgage loan from NBF is quick and convenient. That said, there are abundant reasons to choose NBF Islamic home finance, such as:

  • Transparent terms and conditions
  • Nominal profit rates
  • Quick approval
  • Substantial loan amount
  • Refinance, equity release and buyout options
  • Quality after-sale services

The NBF Islamic home finance can help you purchase your dream house at affordable terms. However, ensure to read the terms and conditions before proceeding with the application.

FAQs

What is the maximum loan amount I can get?

The maximum loan amount you can get is up to AED 20 million. However, this depends upon various factors, such as your age, property value, monthly income and more.

How long does it take for loan approval?

After you submit all the necessary documents, the loan approval can happen within seven working days from the date of document submission.

How will the bank inform me regarding application approval?

NBF’s home finance advisor will contact you regarding the status of your application. After this, you will have 30 days to complete the further formalities.

How much profit rate does NBF charge?

NBF in UAE charges a profit rate from 2.89% per annum for salaried employees and 2.99% per annum for self-employed individuals.

Who can apply for Islamic home finance from NBF?

Any UAE resident or an expat who is a resident of the country can apply for Islamic home finance from NBF. 

Reviews & Ratings

4.6 / 5 (based on   20020 google icon reviews)

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