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Union National Bank Home Loan for UAE Nationals

Union National Bank Bank

WarningMessage This product is discontinued by the Bank

Home Loan for UAE Nationals

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

20%

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

20%

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
  • 20% 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

⭐ Do I need to pay an early settlement fee if I’m selling the property?

A. If you are going to sell the property then you need not pay any early settlement fees.

⭐ Can I clear my loan by paying partial amount?

A. Yes, you can avail partial settlement facility once yearly.

⭐ Are property insurance and life insurance mandatory?

A. Yes, property insurance and life insurance are required.

⭐ What are the rates of property insurance?

A. 0.04%(per annum) of the property value is charged as the property insurance.

⭐ What are the rates of life insurance?

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

⭐ Are self-employed individuals eligible?

A. Yes, self-employed individuals are eligible for getting a home finance.

⭐ What is the minimum income required for self-employed individuals?

A. Self-employed individuals need to have minimum income AED 20,000.

⭐ What is the age limit to be eligible to apply for the loan?

A. The applicant’s age should be in between 25-70 years to be eligible for the loan.

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