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Union National Bank Home Loan for Expatriates

Union National Bank Bank

WarningMessage This product is discontinued by the Bank

Home Loan for Expatriates

Minimum Salary

AED 15K

Flat Rate

1.94%

Reducing Rate

3.49%

Loan Amount

AED 8000K

Early Settlement Fee

1%

Arrangement Fee

0.5%

Down Payment

25%

Repayments Up To

25 Years

Advantages

  • Get pre-approval
  • Hassle free documentation
  • No salary transfer
minimum salary

AED 15K

Minimum Salary

flat rate

1.94%

Flat Rate

reducing rate

3.49%

Reducing Rate

max finance

AED 8000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

0.5%

Arrangement Fee

down payment

25%

Down Payment

repayment

25 Years

Repayments Up To

Advantages

  • Get pre-approval
  • Hassle free documentation
  • No salary transfer

Features

  • Both self-employed and salaried individuals are eligible
  • Minimum salary of AED 15000 is required
  • Home Finance is provided at a fixed interest rate of 1.94%
  • Home Finance is provided on a reducing interest rate of 3.49%
  • Salary transfer to Union National Bank account is optional
  • Maximum loan amount provided is AED 8000000
  • Life and property insurance is required
  • 0.5% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 25% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Low minimum salary requirement
  • Low-interest rates
  • Salary transfer is not required
  • Provides finance for under construction properties also
  • Can get pre-approval details
  • Quick processing
  • Easy documentation

Frequently Asked Questions

⭐ Are life and property insurance mandatory?

A. Yes, getting the property insured and applicant life insured is mandatory.

⭐ What are life insurance charges?

A. 0.36%(per annum) of the outstanding loan amount is charged as Life Insurance.

⭐ What are the charges associated with property insurance?

A. 0.04% of the property value should be paid as property insurance charge.

⭐ Are Non-Residents eligible?

A. Yes, Non-Residents are eligible for a mortgage loan at UNB.

⭐ What is the maximum finance provided?

A. For expats, the maximum finance provided is either AED 8 Million or 7 times their annual income(whichever is the least).

⭐ Can I get pre-approval details?

A. Yes, you can get pre-approval details of the loan.

⭐ What are the fees for getting pre-approval?

A. AED 500 should be paid for getting pre-approval details.

⭐ What is the minimum income for a self-employed individual to be eligible?

A. Self-employed individuals need to have minimum AED 20,000 income to be eligible for the mortgage loan at UNB.

⭐ What is the maximum age for a salaried individual to be eligible for the loan?

A. Salaried individuals of maximum 65 years are eligible to apply for the loan.

⭐ For self-employed how many years audited documents are required?

A. Self-employed individuals need to provide minimum 2 years audited finances documents.

Union National

Established as a Public Joint Stock Company (P.J.S.C) in 1982, Union National Bank (UNB) has shareholdings from both Dubai and Abu Dhabi Government. UNB has a Vision ‘to be the best in class for the banking industry in the UAE’ and a Mission ‘to be the first and the best bank of choice for all stakeholders.’ The values followed by UNB are :

  • Integrity & Transparency
  • Customer Focus
  • Team spirit
  • Continuous Improvement
  • Nurturing Staff
  • Responsible Community Membership
  • Best practices

   Get in touch with Union National Bank Customer Care