A guide to Emirates NBD mortgage offers, including their terms/conditions, typical loan offers, and application process with required documents.

Overview of terms and conditions

Emirates NBD is the largest bank by assets originating in the UAE (AED 721 billion as of September 30th, 2022). It was initially formed in 1963 as the first national bank in the UAE. In 2007, a merger between the National Bank of Dubai and Emirates Bank International brought about its present-day organization. Its full name is Emirates National Bank of Dubai and the acronym ENBD is also used. Emirates NBD is headquartered in Dubai, has the greatest number of ATMs in the UAE, and is present in 13 countries. They also have a mobile banking application where their customers can access and manage all of their accounts. 

Emirates NBD offers a variety of mortgage products including:
  • Home loans for UAE nationals and expatriates
  • Loan against property for UAE nationals and expatriates
  • Mulhaq loans for UAE nationals 
  • Mortgage loan buyouts 
  • Commercial properties financing for retail spaces and office units 

The following are the general terms and conditions for their home loans that apply to all mortgage applicants regardless of residency and employment status. 
  • Prepayment of up to 20% of the outstanding loan amount allowed per annum 
  • In excess of 20%, 1.05% penalty on the exceeding amount, capped at AED 10,500 (including VAT)
  • Late payment fee: AED 420 
  • Bank transfer fee - 1.05% penalty on the exceeding amount, capped at AED 10,500 (including VAT)
  • Life insurance terms 
  • 0.216% per annum of the mortgage balance for single life, 0.172% per annum on additional life for joint application
  • Building insurance: 0.06% of the property value per annum

Now let’s look at Emirates NBD’s loan options, terms, and conditions for mortgage borrowers that are employed, self-employed, and non-residents. It’s important to note that the actual rates listed are valid for disbursal until February 28th, 2023 and that the rates, fees, and costs are subject to change without notice. The 1-month EIBOR rates are taken from the UAE Central Bank website and are current as of January 16th, 2023. EIBOR rates are updated daily and subject to change with the market.

Mortgages for employed borrowers

Emirates NBD only offers fixed-rate mortgage loans for employed resident borrowers. The fixed-rate offer is available to customers opening an account with Emirates NBD for mortgage purposes, already banking with Emirates NBD, or providing salary transfer. 

Fixed-rate offer:
  • 4.99% fixed for 3 years
  • Reversion rate being a fixed margin of 2.25% for the remaining term + 4.617% (1-month EIBOR) = 6.867% 
  • 1.89% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.507%
  • Zero fee
  • Salary transfer 
  • Mandatory in-house insurance
  • 1.89% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.507%
  • 0.25% processing fee 
  • Mandatory in-house insurance
  • 2.09% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.707% 
  • Zero fee

Other condition/terms/fees for employed borrowers: 

  • 15% for nationals
  • 20% for expats 
  • 0.5% of loan amount bank processing fee 
  • Service fee: AED 5,250 
  • Life insurance for airline pilots and cabin crews:
  • 0.422556% per annum of the mortgage balance for single life and 0.422556% per annum on additional life for joint application 

Mortgages for self-employed borrowers

Since self-employed borrowers may have a less stable income and represent a higher-risk for lenders, they’ll often be offered higher interest rates than borrowers that are employed.

Variable-rate offers:

  • 2.14% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.757% 
  • 0.25% processing fee 
  • Mandatory in-house insurance
  • 2.34% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.957% 
  • Zero fee

Other condition/terms/fees for employed borrowers: 

  • Down payment from: 
  • 15% for nationals
  • 20% for expats 

Mortgages for non-resident borrowers

Similarly to self-employed borrowers, non-resident borrowers often have stricter lending conditions as well. Emirates NBD has similar variable-rate offers for self-employed and non-resident borrowers alike.

Variable-rate offers:

  • 2.14% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.757% 
  • 0.25% processing fee 
  • Mandatory in-house insurance
  • 2.34% fixed margin for the life of the loan + 4.617% (1-month EIBOR) = 6.957% 
  • Zero fee

Other condition/terms/fees for employed borrowers: 


As you can see, the service fee is higher (AED 2,250 more) for non-residents than it is for borrowers with residency. This is probably due to the extra checks and lengthier process that Emirates NBD has to go through with non-resident borrowers.

Application process

Below is what the first page of the Emirates NBD mortgage application looks like. A mortgage broker can guide you through the application process, explain the necessary terms, and help you complete the application accurately for the highest chance of loan approval.
Emirates NBD first page of mortgage application.

Not only will you need to fill out the mortgage application, but you’ll need to submit a series of documents in order for the bank to verify your identity, analyze your financial situation, and approve you for a loan. The documentation that Emirates NBD requires for salaried and self-employed mortgage applicants is listed in the following table.
Required documents for Emirates NBD mortgage application
Salaried: Self-employed:
Clear color copies of passport, visa, and emirates ID (both sides) Clear color copies of passport, visa, and emirates ID (both sides)
Completed ENBD home loan application form with all necessary information Completed ENBD home loan application form with all necessary information
Salary certificate or salary transfer letter – original / copy Valid Trade license copy
Payslips for the last 6 months – if salary credit amount is less or greater than the salary as per the salary certificate Memorandum of Understanding (MOU) with amendments if any
Bank statements from the last 6 months 3 years of audited financials
If property is finalized – Memorandum of Understanding (MOU) and Title deed / Oqood / Pre Title deed of the property Last 6 months of company and personal bank statements
Original valuation request form (if available) Any facilities availed – copy of facility letters
Here are some additional documents you may need to provide: 
  • Free zone / Dubai International Financial Center (DIFC) ID if any 
  • Last 3 months of credit card statements
  • Company or business profile 
  • Undertaking for AECB credit score check 
  • Sales and purchase agreement (SPA)
  • Pre-approval fee cheque and amount 
  • Valuation fee cheque and amount 
  • For rental income (if applicable) 
  • Tenancy contract 
  • Copy of cheque and related bank statement to consider rental income
  • Copy of title deed of rented property 
  • Auto debit form / Standing Instruction
  • Memorandum of Association (MOA) 
  • Other documents on a case-by-case basis 

To sum up

It’s clear that Emirates NBD has a variety of mortgage options with favorable terms/conditions – after all, there’s a reason why they’ve become such a prominent lender in the UAE real estate market. This guide has provided you with an idea of the loan offers you could receive and the documents you’ll need to provide. However, to get the most up-to-date offers, you’ll want to work with a mortgage broker like Kredium. Our professionals are here to help you throughout the entire mortgage process and provide you with personalized loan offers, whether you’re a UAE national, resident expat, or a non-resident

We also have you covered if you’re looking for a property in Dubai, with thousands of property listings from all of the top developers. Check out our mortgage calculator to estimate your monthly mortgage payments, rental yield (for investment properties), and more. Or simply contact us or register on our website and we can help you with the rest.

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