NBQ Mortgage Loan

The National Bank of Umm Al Qaiwain provides retail and corporate banking solutions. The financial institution operates on a Shariah-compliant structure.

The bank’s mortgage loan is one of the preferred products among its personal banking category. Let us learn about the product in detail, including its features, eligibility, fees, and other important aspects.

Top Home Loan Plans in UAE

Key Features of NBQ Mortgage Loan

Refer to the key benefits and features of the National Bank of Umm Al Qaiwain mortgage loan below:

• High finance amount of up to AED 5,000,000
• Flexible loan repayment term of up to 25 years
• Loans available for all housing programs in the UAE
• Complimentary property and life insurance
• Competitive interest rates, starting from 1 month EIBOR + 1.70%
• Free online banking and ATM card
• No need to transfer salary

National Bank of Umm Al Qaiwain Home Loan- Eligibility Criteria

The eligibility requirements for an NBQ mortgage loan for different employee categories are:

Criteria	For Salaried Employees	For Self-Employed Employees
Nationality	All Nationalities	All Nationalities
Age	Minimum- 25 Years Maximum- 70 Years at the Time of Loan Maturity	Minimum- 25 Years Maximum- 70 Years at the Time of Loan Maturity
Salary	Minimum- AED 20,000 (Monthly)	NA
Employment Service	Minimum- 3 Years Length of Confirmed Service	NA
Property on Mortgage	Required	Required
Company Turnover	NA	Minimum- AED 3 Million Per Annum with a Minimum Monthly Balance of AED 25K
Business Length	NA	Minimum- 3 Years

National Bank of Umm Al Qaiwain Mortgage Loan- Documents Checklist

We have enlisted the documents required for the National Bank of Umm Al Qaiwain home loan application verification:

• Emirates ID
• Passport
• Salary Certificate
• Personal Bank Statement

Note:

• Make sure all the documents are original and valid
• Copies of each document must be presented
• Additional documents may be requested by the bank

NBQ Mortgage Loan- Fees and Charges

Tabled below are the major fees and charges of the NBQ home loan in UAE:

Type of Fee	Charges
Loan Processing Fee	1.05% of the Loan Amount (Inclusive of VAT)
Late Payment Fee	Maximum AED 735 (Inclusive of VAT)
Partial Settlement Charges	1.05% of Partial Settlement Amount (Inclusive of VAT); Maximum AED 10,500
Early Settlement Charges	1.05% of Partial Settlement Amount (Inclusive of VAT); Maximum AED 10,500

Note: Additional charges may be applicable.

Apply for NBQ Mortgage Loan via Policybazaar UAE?

To apply for the National Bank of Umm Al Qaiwain home loan via Policybazaar UAE, follow these steps:

1. Head out to our website- www.policybazaar.ae.
2. Go to ‘Banking Products’> ‘Home Loans’.
3. Complete the lead form and locate the product.
4. Apply and follow the on-screen prompts.

Getting finance for your home through our digital portal offers you with a plethora of benefits, including:

• Wide range of loan products besides NBQ mortgage loans.
• 24/7 customer support.
• Easy loan application process.
• Access to our website’s ‘Articles’ section

NBQ Home Loan- Terms and Conditions

Some general terms and conditions of the National Bank of Umm Al Qaiwain are given below:

• The interest shall be calculated based on the daily balance of the drawn and unpaid loan amount excluding the interest accrued and fees from the withdrawal date based on the lapsed numbers of days and a 365-day year to be added to the loan balance. It shall be paid with the monthly instalments.
• The Bank has the right to make amendments in the repayment structure and/or the number of instalments and/or the amount of each instalment in the event of a variation in the interest rate at the sole and absolute discretion of the bank and without any borrower’s prior consent.
• The bank will charge the fees, commissions, expenses, and service charges of VAT applicable to the loan according to the bank’s scheduled fees. These charges will follow the rates set by the Central Bank of the UAE and will be updated as notified by the bank..

Note: Refer to the bank’s website for detailed terms and conditions.

Frequently Asked Questions

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Mortgage Loan Eligibility in UAE	Mortgage Loan Pre-Approval in UAE
Mortgage Loans for Expats	Home Loan Balance Transfer in UAE
Home Loans for Non Resident	Mortgage Loan for Salaried Employees
Under Construction House Loans with Variable Interest Rate	Mortgage Loan Procedure in UAE