Interest rates starting from 4.49 per cent (with fixed rate pricing options for up to 7 years)

Up to 85 per cent financing

Includes free life, property and home contents insurance for first year

*Available for salaried and self-employed expatriates

Emirates NBD, a leading bank in the region, announced today that it has expanded its mortgages offering to expatriates residing in the United Arab Emirates.

The special mortgage package is available for a limited period from April, 2012, and provides attractive interest rates starting from 4.49 per cent per annum. Customers can also opt to fix their interest rate and instalments for up to seven years.

Apart from the low interest rates, there are extensive savings possible, with 50 per cent discount on processing fees, free property valuation and free life, property and home contents insurance for the first year.

“With the stabilization of the residential freehold property market and the growth in the economy, more and more expatriates are looking to buy a property,” said Shekhar Krishnamurthy, Head-Retail Assets & Liabilities, Emirates NBD. “This special offer on mortgages for expatriates has been developed in response to the evolving needs of our customers, and will offer them a variety of convenient home financing options to choose from.”

Both salaried and self-employed expatriate residents can now avail of this special home loan offer that provides up to 85 per cent financing for property. As part of the special offer, customers who have existing mortgages with other banks can also transfer their loans to Emirates NBD at special discounted prices, while property owners can avail of Emirates NBD’s “Loan Against Property” option to raise additional financing.