Emirates NBD, holding company of Emirates Bank and National Bank of Dubai, announced it is gearing up to launch its home loan financing scheme in Abu Dhabi.

Mr. Jamal Bin Ghalaita, Emirates NBD General Manager- Consumer Banking and Wealth Management said, "Abu Dhabi is a very significant market for Emirates NBD, especially with the property boom that can be clearly witnessed in the city.  More and more customers are investing in the capital and now, with the launch of the mortgage loans for properties in Abu Dhabi, customers will easily and conveniently buy property in the emirate.  We have strategically timed the launch of this new mortgage product with the start of Cityscape Abu Dhabi 2008 to ensure that visitors at the show are provided with easy loan solutions when buying property at this International property show."

Emirates NBD's Home Loan product is available to both UAE nationals and Expatriates living in the country and offers high loan amounts for the financing of residential properties in the emirate of Abu Dhabi.  Emirates NBD offers customers competitive introductory interest rate of 4.99%, extended repayment periods and pre-approval facility.  Customers are offered the choice between floating and fixed interest rates with periods up to 7 years.  The bank also offers repayment break of principal amount of up to 24 months.

In addition, Emirates NBD Home Loan customers will be entitled to additional services such as: pre-approved NBD credit card, NBD payroll account, the all-in-one salary transfer account with no minimum balance requirement.  Also available to home loan customers will be free online banking, free bill pay service and free mobile service.

In Dubai, Emirates NBD recently launched its very own Mortgage Centre conveniently located in Emaar Business Park.  The center is a one stop business shop for all the mortgaging needs of current and prospective Emirates NBD customers. Amongst the services provided by the specialised centre are Mortgage Consultation, Product and Account inquiries, Mortgage Application and Valuation Requests.

The Service Centre functions from Sunday to Thursday between 9 am and 7 pm while the Sales Centre is open from Saturday to Thursday from 9 am to 7 pm.  Emirates NBD is the largest mortgage  provider among banks in the UAE, offering a full range of mortgage products that include home loans, office loans and the innovative offset home loans.

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Reported by: Zeina El-Haj, Head of Marketing, PR, Event & Sponsorship, Retail Banking, Consumer Finance & Wealth Management, Emirates NBD
Reported on: 14.05.2008