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HSBC New Home Loan
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
New Home Loan
- Salary transfer is not required
- Free partial payments
- Can get pre-approval
- Both salaried and self-employed with regular income may apply for this scheme
- Customers living outside the UAE will only be considered for this scheme if they are Premier customers and they are meeting the HSBC lending criteria
- Aged 21 to 65 years can apply for HSBC New Home loan
- Approval in principle provided in 60 minutes
- Minimum salary of AED 15,000 is required
- Provides financing at an interest rate of 3.24%
- The reduction rate and the flat rate is 3.24% and 1.8%. This denotes that the computation done was a division of the reduction rate by 1.8.
- Finance up to AED 20,000,000
- Required to put 25% down payment for this finance
- The early settlement fee is 1% of the outstanding loan amount
- Finance will be provided for ready properties with deeds
- Transfer of money is not mandatory
- You can receive extra funds for renovations by applying for an equity release
- Finance repayment period of up to 25 years
- Approval of loans are quick
- A dedicated team of experienced mortgage advisers will assist you to arrange your home loan.
- Finance amount of up to 75% of the purchase price or the professional valuation, whichever is lower
- Overpayments are free up to 25% of the outstanding amount
- Fixed rate for 2 years. Thereafter it is variable.
- You can continue holding your account with another bank and still be eligible for an HSBC Home Loan
Frequently Asked Questions
⭐ Do I have to have an HSBC Bank account to apply for an HSBC Home loan?
A. Yes. However, you can apply without being a current HSBC customer and we will arrange an appropriate account for you if you are approved for a home loan.
⭐ How do I apply for HSBC Home loan?
A. To apply for an HSBC Home Loan you can call toll–free 800 HOUSE, visit your nearest branch or thehsbc.ae.You can discuss your needs with a member of the HSBC Home Loan team, who will conduct an initial fact-find interview to ensure that you have a full picture of what is required.
⭐ Who is eligible for HSBC New Bank loan?
A. Customers earning an income of AED15,000 per month and above (or equivalent in other currencies), who wish to purchase a property from one of the selected developments for which HSBC is providing finance, subject to meeting HSBC's lending criteria.
⭐ What are the advantages of HSBC Home loan?
A. We offer competitive home loan rates with no financial penalties if you repay the loan in full before the end of the Repayment Period after the first 3 years (administrative charges will apply for loan closure).You can also overpay throughout the term of the home loan (subject to minimum and maximum overpayment requirements) see our Schedule of Tariffs for further details.
⭐ How is interest for HSBC Home loan calculated?
A. Interest is calculated on the daily principal balance outstanding on your home loan account. Your monthly installment will be applied to your outstanding balance, plus the interest accrued.
In 1946, the British Bank of Iran and the Middle East commenced banking activities for Middle East citizens. Post withdrawing from Iran, the bank was renamed as the British Bank of the Middle East (BBME). Hong Kong and Shanghai Banking Corporation (HSBC) acquired BBME in 1959 and played a pivotal role in the establishment of the banking sector in the region. HSBC has a sustainability strategy of doing business. The main areas of focus are:
- Sustainable Finance
- Sustainable Operations
- Sustainable Communities
This is in sync with their global sustainability model.
Get in touch with HSBC Customer Care