Emirates NBD Bank is a leading financial institution in Dubai and the UAE that offers its customers a wide range of products and services. The bank was formed in 2007 through a strategic merger between the National Bank of Dubai and Emirates Bank International. Today, Emirates NBD serves over 17 million customers in 13 countries across the UAE, Egypt, India, Saudi Arabia, Singapore, and the United Kingdom.
One of the many services Emirates NBD offers its customers is mortgage loans. The bank provides a range of mortgage options to suit the needs of different customers, including first-time buyers, existing homeowners, and investors. Emirates NBD offers competitive interest rates and flexible repayment terms, making it easier for customers to finance their dream homes. The bank’s mortgage advisors are also available to help customers navigate the process and choose the best mortgage option.
If you want to buy a home in Dubai or the UAE, Emirates NBD’s mortgage loans may be an excellent option. With various mortgage options and competitive interest rates, Emirates NBD can help make your dream home a reality. Contact the bank’s mortgage advisors today to learn more about your options and get started on your home-buying journey.
History and Growth
Emirates NBD Bank has a rich history dating back to 1963 when Sheikh Rashid bin Saeed Al Maktoum, the then-ruler of Dubai, founded the National Bank of Dubai (NBD). In 2007, NBD merged with Emirates Bank International (EBI) to form Emirates NBD Group, which is now one of the largest banking groups in the Middle East in terms of assets.
Merger and Expansion
The merger between NBD and EBI was a strategic move that allowed Emirates NBD to expand its reach and enhance its offerings. The merger resulted in a combined asset base of AED 281.6 billion, making Emirates NBD the largest bank in the UAE in terms of assets.
Emirates NBD Group has since expanded its presence to 13 countries, including Saudi Arabia, Egypt, India, Singapore, and the UK. The bank’s acquisition of DenizBank in 2019 was a significant milestone, as it marked the group’s entry into Turkey and expanded its customer base to over 20 million.
Emirates NBD Group News
Emirates NBD Group has been making headlines for its strong financial performance and strategic initiatives. As of September 2023, the bank’s total assets were AED 836 billion, equivalent to approximately USD 228 billion. The bank’s net profit for the first nine months of 2023 was AED 8.8 billion, up 11% from the same period in the previous year.
Emirates NBD Group has also been recognized for its sustainability and social responsibility commitment. In 2023, the bank was named the “Best Bank in the Middle East” by Euromoney, and it has received numerous awards for its digital banking offerings and customer service.
Mortgage Loans
Emirates NBD Bank offers a range of mortgage loans to help customers achieve their dream of owning a home. The bank’s mortgage loans come with competitive interest rates, flexible repayment options, and easy application processes.
Customers can choose from various mortgage loans, including fixed-rate, adjustable, and Islamic mortgages. Emirates NBD Bank also offers a range of tools and resources to help customers choose the right mortgage loan for their needs, including mortgage calculators and online pre-approval applications.
Overall, Emirates NBD Bank’s mortgage loans are a reliable and convenient option for customers looking to purchase a home.
Banking Services
Personal Banking
Emirates NBD offers a range of personal banking services to cater to the diverse needs of its customers. These services include loans, credit cards, insurance, deposits, and equities. Customers can also benefit from financing up to 80% of the property value and borrowing up to AED 20 million or 84 salary multiples, whichever is lower. The minimum salary required to apply for these services is AED 15,000. These services are available for both salaried and self-employed individuals.
Emirates NBD also provides life and property insurance coverage, free application fees, and free partial settlement up to 20% of the loan amount. Customers can apply with a co-borrower and avail of mortgage loan buyouts. Additionally, customers can switch their existing home loans to Emirates NBD and benefit from their low interest rates and higher loan amounts.
Business and Corporate Banking
Emirates NBD offers commercial loans for retail spaces and office units. Customers can purchase constructed and ready commercial properties with commercial mortgage loans. The bank also provides home loans for non-residents, allowing individuals to own a home in the UAE while living in their home country.
To apply for these loans, customers must provide identification documents, including original Emirates ID and passport copies with resident visa pages.
Emirates NBD requires salaried individuals to submit their latest salary certificate, recent pay slips, proof of previous employment (if tenure is less than three years), and the last 6-month bank statement. Self-employed individuals must provide a copy of the trade license, memorandum of association (MOA) with all amendments, the last 6-month bank statement, and audited financials for the past two years.
Co-borrowers must provide their passport and visa pages, income documents (if applicable), MOA, trade license, and passport copy of partners (if the co-borrower is a company).
When financing a home, evaluating the variable rate before selecting a home loan is essential. The variable rate includes the base rate and margin after the fixed introductory period and can help customers make a balanced decision. It’s also advisable to pay a higher down payment and opt for a lower loan-to-value (LTV) ratio to keep costs manageable and save for unforeseen circumstances. Customers should also carefully consider the developer, neighborhood, and distance to amenities when buying a house, as these factors will help them live more comfortably and significantly affect their property’s sale and rental values.
Digital Innovation
Emirates NBD Bank has been at the forefront of digital innovation, offering its customers various digital solutions to simplify their banking experience faster and more securely. Here are some of the critical digital innovations that Emirates NBD has introduced.
Mobile Banking App
Emirates NBD’s mobile banking app is designed to provide customers with a seamless banking experience. The app offers a range of features, including account management, bill payments, fund transfers, and more. Customers can also view their account balances and transaction history and receive alerts.
Online Banking
Emirates NBD’s online banking platform is a secure and convenient way for customers to manage their accounts anywhere. The platform offers a range of features, including account management, bill payments, fund transfers, and more. Customers can also view their account balances and transaction history and receive alerts.
Smart Pass and Authentication
Emirates NBD’s Smart Pass is a secure and convenient way for customers to authenticate their transactions. Smart Pass uses a one-time password (OTP) to verify the customer’s identity, ensuring the transaction is secure. In addition, Emirates NBD has introduced a range of authentication solutions, including biometric authentication, to provide customers with an even more secure banking experience.
Mortgage Loans
Emirates NBD Bank offers a range of mortgage loans to help customers achieve their dream of owning a home. The bank offers competitive interest rates, flexible repayment options, and a range of other benefits to make getting a mortgage loan as simple and stress-free as possible.
Customers can apply for a mortgage loan online or at any Emirates NBD branch. The bank offers a range of mortgage products, including fixed-rate, adjustable, and interest-only mortgages. Customers can also choose from various repayment options, including monthly, bi-weekly, and weekly payments.
Emirates NBD’s mortgage loans come with various benefits, including flexible repayment terms, competitive interest rates, and other features. The bank’s mortgage experts can help customers choose the right product and answer any questions.
Emirates NBD offers a range of mortgage loans to help customers finance their home purchases. Customers can choose from fixed or variable interest rates and select a repayment period of up to 25 years. The bank offers competitive interest rates and flexible repayment options to help customers find a mortgage loan that meets their needs. Customers can apply for a mortgage loan online or by visiting the nearest Emirates NBD branch.
International Presence
Emirates NBD has expanded its presence globally, with operations in Asia Pacific, the Middle East, North Africa, Europe, and the Americas.
Asia Pacific Expansion
Emirates NBD has a strong presence in Asia Pacific, with branches in Singapore and India. The bank has been expanding its regional operations, focusing on providing innovative financial solutions to its customers. Emirates NBD has also been exploring opportunities in China and Indonesia, two of the fastest-growing economies in the region.
Middle East and North Africa
Emirates NBD is one of the largest banking groups in the Middle East and North Africa (MENA) region, with operations in Egypt, KSA, and the UAE. The bank has a strong presence in the UAE, the leading financial services brand with a brand value of USD 3.89 billion. Emirates NBD has also been expanding its operations in other countries in the MENA region, including Bahrain and Turkey.
Europe and Americas
Emirates NBD has a presence in the United Kingdom, where it operates through its subsidiary, Emirates NBD (UK) Limited. The bank has been focusing on providing financial solutions to its customers in the UK, including trade finance, treasury services, and wealth management. Emirates NBD is also exploring opportunities in other European and American countries.
Financial Performance
Assets and Investments
Emirates NBD Bank has consistently shown strong financial performance in recent years. As of 2024, the bank’s total assets have surpassed AED 500 billion for the first time. The bank’s investments and wealth management services have significantly influenced its financial growth. Emirates NBD Bank offers a wide range of investment options, including ETFs, which have become increasingly popular among investors.
Market Performance
Emirates NBD Bank has performed well in the Dubai Financial Market, with its shares showing steady growth. The bank’s transactions have also increased, with its mortgage loans significantly contributing. The bank’s mortgage loans have helped many individuals and families achieve their dreams of homeownership. Emirates NBD Bank provides competitive interest rates and flexible repayment options, making it an attractive option for those looking for mortgage loans.
In conclusion, Emirates NBD Bank’s financial performance has been impressive, with its assets and investments contributing significantly to its growth. The bank’s mortgage loans have also played a crucial role in its market performance, helping many individuals and families achieve their dreams of homeownership.
Regulatory Compliance and Governance
Global Benchmark Reforms
Emirates NBD Bank has been actively involved in the IBOR transition. It has implemented the necessary changes to ensure its operations align with the new benchmark interest rates. The bank has been monitoring the developments in the global benchmark reforms and has taken the necessary steps to ensure compliance with the latest regulations.
Corporate Governance
Emirates NBD Bank has a robust corporate governance framework that ensures effective oversight and control of the bank’s operations. The bank’s board of directors is responsible for setting its strategic direction and overseeing its operations. The board is supported by six permanent committees responsible for various aspects of the bank’s operations.
The bank has designed its corporate governance framework to ensure compliance with all relevant local regulatory requirements, including those issued by the Central Bank of the UAE. The bank regularly reviews its governance framework to ensure its adequacy and appropriateness.
The Chairman of the Securities & Commodities Authority of the UAE has also issued a decision concerning the bank’s compliance with applicable laws and regulations. The bank’s compliance with this decision ensures it meets the regulatory requirements.
Emirates NBD Bank’s mortgage loans are designed to meet the needs of its customers. The bank offers a range of mortgage products tailored to satisfy its customers’ specific needs. The bank’s mortgage loans are available at competitive interest rates, and customers can choose from various repayment options.
The bank’s mortgage loans are designed to be flexible, allowing customers to make additional payments or pay off their loans early without incurring any penalties. The bank also offers a range of tools and resources to help customers manage their mortgage loans, including online banking, mobile apps, and customer service support.
Overall, Emirates NBD Bank’s mortgage loans are a reliable and flexible option for customers looking to purchase a property. The bank’s commitment to regulatory compliance and corporate governance ensures its mortgage products are safe and reliable.
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Frequently Asked Questions
How can I contact Emirates NBD customer care for assistance?
Customers can contact Emirates NBD customer care by calling the 24/7 phone banking service at 600 54 0000. Alternatively, customers can visit the nearest Emirates NBD branch to speak with a representative.
Where can I find the nearest Emirates NBD branch?
Customers can find the nearest Emirates NBD branch using their website’s branch locator tool. The tool allows customers to search for branches by location, including city, area, and street.
What are the requirements for opening a business bank account in Dubai with Emirates NBD?
To open a business bank account with Emirates NBD in Dubai, customers must provide the following documents: a valid trade license, passport copies of authorized signatories, proof of address, and a minimum deposit amount. Additional documentation may be required depending on the type of business and the account being opened.
How do I access Emirates NBD online banking services?
Customers can access Emirates NBD online banking services by visiting the bank’s website and logging in with their username and password. The online banking platform allows customers to view account balances, transfer funds, pay bills, and manage their accounts.
What is the difference between Emirates NBD and Emirates Islamic Bank?
Emirates NBD is a conventional bank that offers various banking services, including personal and business banking, wealth management, and insurance. Emirates Islamic Bank is an Islamic bank that operates by Shariah principles and offers a range of Islamic banking products and services.
