Loans
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.
Do I qualify for an NBF Construction Loan to build on pre-owned land?
Yes, you will qualify for an NBF Construction Loan to build a residential property on pre-owned freehold or leasehold land.
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.
What income must I be earning as a salaried employee in order to qualify for an NBF Construction Loan?
Salaried employees must earn a minimum income of AED 20,000 to be eligible for an NBF Construction Loan.
What income must I be earning as a self-employed business owner in order to qualify for an NBF Construction Loan?
Self-employed business owners must earn a minimum income of AED 30,000 to be eligible for an NBF Construction Loan.
What is the maximum amount I can borrow to build my home?
NBF can provide financing of up to 80% of the value of land and construction cost, up to AED 5 million.
What is the oldest I can be when my construction loan matures?
You can be no older than 65 years at the time of your construction loan maturity.
How many properties can I finance with NBF?
One per customer.
How do I qualify for an overdraft?
To be eligible for an NBF Overdraft, you need to provide the following:
- Confirmation that you have been employed for at least six months with your current employer
- Proof that your salary is at least AED 5,000 (for revolving overdraft), OR
- A deposit of AED 10,000 (for a secured overdraft against a fixed deposit).
How does the NBF Overdraft work?
You can apply for an overdraft facility either against your salary, or against your NBF Term Deposit.
When can I apply for an overdraft?
An NBF Overdraft can be arranged from the time you open your account, for any period up to 12 months, depending on your requirements.
