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Noor Bank Commercial Property Finance

Noor Bank Bank

WarningMessage This product is discontinued by the Bank

Commercial Property Finance

Minimum Salary

AED 40K

Flat Rate

2.73%

Reducing Rate

4.99%

Loan Amount

AED 10000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

35%

Repayments Up To

15 Years

minimum salary

AED 40K

Minimum Salary

flat rate

2.73%

Flat Rate

reducing rate

4.99%

Reducing Rate

max finance

AED 10000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

35%

Down Payment

repayment

15 Years

Repayments Up To

Features

  • Both self-employed and salaried individuals are eligible
  • Minimum salary of AED 40000 is required
  • Home Finance is provided at a fixed interest rate of 2.73%
  • Home Finance is provided on a reducing interest rate of 4.99%
  • Salary transfer is not required
  • Maximum loan amount provided is AED 10000000
  • Life and property insurance is required
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 15 years
  • 65% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Provides finance to purchase commercial property
  • Low down payment requirement
  • Salary transfer is not required
  • High finance amount
  • Quick processing
  • Can get pre-approval details

Frequently Asked Questions

⭐ Can I transfer my existing loan to Noor Bank?

A. Yes, you can transfer your existing mortgage loan to Noor Bank.

⭐ Can I get a loan for under construction properties?

A. No, under construction properties are not provided a loan.

⭐ What should be the annual turnover of the company to be eligible?

A. The annual turnover of your company needs to be minimum AED 1.2 Million to be eligible.

⭐ Is there any maximum age requirement for a self-employed expat to be eligible for the loan?

A. Yes, self-employed expats need to be below 70 years to be eligible for the loan.

⭐ Is trade license a mandatory document?

A. Yes, trade license is a mandatory document.

⭐ Do I need to provide both company and personal bank statements?

A. Yes, self-employed individuals need to provide both company and personal bank statements.

⭐ Is title deed a mandatory document?

A. Yes, title deed of the property is a mandatory document.

⭐ What is are the fees charged for insurance?

A. 0.5% of the loan amount is charged as insurance fees.

⭐ Is it mandatory to get both property and life insurance?

A. Yes, both property and life insurance are mandatory.

Noor

Established in January 2008, Noor Bank (formerly known as Noor Islamic Bank), is a young bank providing a wide range of products and service. With a Mission of ‘wanting to be ranked among the top 100 most-innovative companies in the world’ and a Vision ‘to be recognised as the financial icon of Dubai’, the bank follows these values :

  • Customer Centricity
  • Innovation
  • Determination
  • Integrity
  • Responsibility

They believe that Islamic banking has the flexibility and the openness to enable them to offer a wide range of products and services when approached correctly.

   Get in touch with Noor Bank Customer Care