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Construction Loan

You’ve found the perfect piece of land and now you want to build the home you’ve always dreamed of. By financing the project with an NBF Construction Loan, you will enjoy competitive interest rates and flexible repayment terms to make it all possible.

Product Features

  • Financing of up to 80% of the value of the land and construction cost, up to AED 5 million
  • Available for residential construction on pre-owned land across the UAE
  • Flexible repayment tenor of 2 to 23 years
  • Competitive interest rates
  • Buy-out option to transfer your loan to NBF

Required documents

To be eligible for an NBF Construction Loan, you need to be an employed UAE national, who is 21 years of age or older and you will be required to provide proof of your income.

When you visit an NBF branch, you'll need to complete an application form. You will also need to provide (where applicable):

  • Salary certificate (in the case of salaried individuals) – no more than 30 days old
  • Bank statements for the past three months
  • Construction quote from the contractor
  • Original Title Deed copy

Rates & Charges

Interest rate

8% p.a reducing (linked with EIBOR)

Frequently asked questions

Are expatriates eligible for an NBF Construction Loan?

No, only UAE nationals can apply for a Construction Loan.

Can I apply for the NBF Construction Loan with a co-borrower?

Yes, you can. Multiple co-owners/co-borrowers are allowed.

How long have I had to have been with my current employer/been self-employed in order to be eligible for an NBF Construction Loan?

In order to qualify for a construction loan, you will have to have worked for your current employer for a minimum of one year, or have been in business as a self-employed businessman for one year.

How many properties can I finance with NBF?

One per customer.

I own a plot of land outside Fujairah, will I still be able to apply for an NBF Construction Loan?

Yes, we can finance property in all Emirates.

If I have a Construction Loan, is it mandatory that I transfer my salary to my NBF account every month?

Yes, an NBF Construction Loan is available to you provided you have your monthly salary transferred to an NBF Current Account.

Is it possible to buy-out an existing construction loan from another bank?

Yes, for further details please contact us.

I’m currently unemployed, can I apply for an NBF Construction Loan?

No, only salaried employees and self-employed business owners may apply for an NBF Construction Loan. You will be required to furnish proof of income.

Over what time period can I repay my NBF Construction Loan?

The minimum tenor is 2 years and the maximum tenor is 23 years.

What charges can I expect with the processing of my Construction Loan?

Charges associated with processing a Construction Loan include but are not limited to: a loan processing fee and a valuation fee. For more information, please refer to the Schedule of Charges 

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