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Noor Bank Home Finance for non residents

Noor Bank Bank

WarningMessage This product is discontinued by the Bank

Home Finance for non residents

Minimum Salary

AED 40K

Flat Rate

2.73%

Reducing Rate

4.99%

Loan Amount

AED 15000K

Early Settlement Fee

1%

Arrangement Fee

1.5%

Down Payment

25%

Repayments Up To

25 Years

minimum salary

AED 40K

Minimum Salary

flat rate

2.73%

Flat Rate

reducing rate

4.99%

Reducing Rate

max finance

AED 15000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1.5%

Arrangement Fee

down payment

25%

Down Payment

repayment

25 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 15000000
  • 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 25 years
  • 70% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Provides finance for Non-Residents
  • Provides finance for both completed and under construction properties
  • High finance amount
  • Low insurance rates
  • Competitive interest rates
  • Quick processing
  • Hassle free documentation

Frequently Asked Questions

⭐ Are Non-Residents eligible for the finance?

A. Yes, Non-Residents are eligible to apply for finance at Noor Bank.

⭐ What is the minimum age required to be eligible for the loan?

A. The loan applicant must be of minimum 23 years old to be eligible for the loan.

⭐ What is the annual turnover of a company should be to be eligible for the loan?

A. A company needs to have an annual turnover of AED 480,000 to be eligible for the loan.

⭐ What is the maximum age of the loan applicant should be?

A. The loan applicant should be below 65 years to be eligible for the loan.

⭐ Is salary certificate a mandatory document?

A. Yes, if you are a salaried individual then the salary certificate is mandatory.

⭐ How many months bank statements are required?

A. Minimum 3 months bank statements are required.

⭐ How much finance is provided for under construction properties?

A. 50% of the property value is provided as maximum finance for under construction properties.

⭐ How much finance is provided for completed properties?

A. 70% of the property value is provided as maximum finance for completed properties.

⭐ Is passport a mandatory document?

A. Yes, the loan applicant needs to submit a valid passport for validation.

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