homeloansforselfconstruction

Home Loans for Self Construction

Go from blueprint to reality with Emirates NBD

Bring your dreams to life with Emirates NBD self-construction Home Loans. There are multiple options and tailor-made financial solutions for UAE Nationals looking to construct their own house.

Features of the self-construction Home Loans:

Up to 100 financing of construction cost
Up to 100% financing of construction cost
Payment holiday for 2 years or construction completion whichever is earlier
Payment holiday for 2 years or construction completion whichever is earlier
Loan amounts up to AED 25mn
Loan amounts up to AED 25mn
Fixed rate interest option available
Fixed rate interest option available

Use our mortgage calculator to see how much your new home will cost

Key features and benefits

  • Apply with a minimum salary of AED 10,000
  • Available for salaried and self-employed individuals
  • Finance up to 85% of the Property Value
  • Free life and property insurance
  • No application fee
  • Free partial settlement, up to 20% of the loan amount
  • Mortgage for government housing programmes
  • Apply with a co-borrower

Terms and conditions apply.

I want to borrow

AED 250,000 AED 20,000,000
12 Months 300 Months

You can borrow AED {0} Home Loan

with monthly payments as low as

AED  

Tentative rate: 7.25% p.a. (reducing)
Rates and benefits will be applicable based on the customers segment, eligibility and borrowing capacity as per the banks credit policy and central bank regulation.
Linked to 1-month EIBOR + 1.79% per annum reducing balance. Reference Rate is calculated based on EIBOR rate as of 13th March 2024. Rate applicable will be calculated based on the current rate of EIBOR on the date of loan disbursement.

Finance construction property highlights

Bring Your Dream Home To Self Life With Emirates NBD Self - Construction Home Loan

  • Apply with a minimum salary of AED 10,000
  • Available for salaried and self-employed individuals
  • Coverage of Life & property insurance
  • Free application fee
  • Free partial settlement up to 20% of the loan amount
  • Finance of Government housing programs available
  • Apply with a co-borrower

I want to borrow

AED 250,000 AED 20,000,000
12 Months 300 Months

You can borrow AED {0} Home Loan

with monthly payments as low as

AED  

Tentative rate: 7.25% p.a. (reducing)
Rates and benefits will be applicable based on the customers segment, eligibility and borrowing capacity as per the banks credit policy and central bank regulation.
Linked to 1-month EIBOR + 1.79% per annum reducing balance. Reference Rate is calculated based on EIBOR rate as of 13th March 2024. Rate applicable will be calculated based on the current rate of EIBOR on the date of loan disbursement.

Benefits of getting a home loan with Emirates NBD

1

Mortgage loan buyouts

Switch your existing home loans to Emirates NBD and benefit from our low-interest rates and higher loan amounts
2

Commercial loans for retail spaces & office units

Purchase constructed and ready commercial properties with our commercial mortgage loans
3

Home Loans for non-residents

Own a home in the UAE while living in your home country with our loans for non-residents

Eligibility

salaried or self employed

For salaried and self-employed individuals

Minimum salarydeposit AED 10000

Minimum salary: AED 10,000

Documents required to apply

  • Passport and Emirates ID
  • Salary certificate addressed to Emirates NBD
  • Bank statement for the last 6 months
  • Pay slips for the last 6 months if pay varies more than 10%
  • Passport and Emirates ID
  • Copy of Trade License
  • Memorandum of Association (MOA), including all amendments
  • Bank statement for the last 6 months
  • Audited company financials or the last two years
  • Co-borrower's passport and Emirates ID
  • Income documents (if applicable)
  • Pay slips for the last 6 months if pay varies more than 10% (if applicable)
  • Bank statement for the last 6 months (if applicable)
  • If the co-borrower is a company owner, please share the MOA and Trade License
  • Valid Passport & Emirates ID
  • Property documents and title deed
  • Existing bank loan documents
  • Passport and Emirates ID
  • Salary certificate addressed to Emirates NBD
  • Bank statement for the last 6 months
  • Pay slips for the last 6 months if pay varies more than 10%
  • Passport and Emirates ID
  • Copy of Trade License
  • Memorandum of Association (MOA), including all amendments
  • Bank statement for the last 6 months
  • Audited company financials or the last two years
  • Co-borrower's passport and Emirates ID
  • Income documents (if applicable)
  • Pay slips for the last 6 months if pay varies more than 10% (if applicable)
  • Bank statement for the last 6 months (if applicable)
  • If the co-borrower is a company owner, please share the MOA and Trade License
  • Valid Passport & Emirates ID
  • Property documents and title deed
  • Existing bank loan documents

Getting started

A Self-construction Loan is a specialized financial product designed to provide the necessary funding for individuals who wish to construct their own home from the ground up.
Unlike traditional mortgages, which are primarily intended for the purchase of pre-existing properties, self-construction loans are meant for the construction of a new home on an existing piece of land.
UAE Nationals with available land or those who are granted land by the government are eligible to apply for a self-construction loan, subject to meeting the lender's specific criteria.
Disbursements for a Self-construction Loan are usually administered in stages, with funds released as the construction progresses. This staged approach ensures that the funds are disbursed in line with the completion of specific construction milestones, rather than as a single lump sum.
Commonly required documents for a Self-construction Loan application include passport, Emirates ID, original affection plan/search certificate or original title deed of the property, the mortgage deed for the property, if applicable, technical evaluation report, workers insurance, registered mortgage deed and building permit, demarcation certificate and contractor's trade license.
A Self-construction Loan is a specialized financial product designed to provide the necessary funding for individuals who wish to construct their own home from the ground up.
Unlike traditional mortgages, which are primarily intended for the purchase of pre-existing properties, self-construction loans are meant for the construction of a new home on an existing piece of land.
UAE Nationals with available land or those who are granted land by the government are eligible to apply for a self-construction loan, subject to meeting the lender's specific criteria.
Disbursements for a Self-construction Loan are usually administered in stages, with funds released as the construction progresses. This staged approach ensures that the funds are disbursed in line with the completion of specific construction milestones, rather than as a single lump sum.
Commonly required documents for a Self-construction Loan application include passport, Emirates ID, original affection plan/search certificate or original title deed of the property, the mortgage deed for the property, if applicable, technical evaluation report, workers insurance, registered mortgage deed and building permit, demarcation certificate and contractor's trade license.
No, it is necessary for you to already have the land before you apply for a Self-construction Loan.
The Mulhaq loan is intended for building an extension or making improvements to a ready property, whereas a Self-construction Loan is meant for the construction of a new property on an empty piece of land.
Loan amounts are determined based on your income, the value of the land, the estimated construction cost, and your overall creditworthiness. Loan-to-Value (LTV) ratios are subject to Emirates NBD’s lending policies which can be up to 85%.
Interest rates are competitive and based on market conditions and your credit profile.
Repayment periods can extend up to 25 years, depending on the loan amount, your age at maturity, and Emirates NBD’s policy.
Yes, early repayment is possible. Fees may apply as per Emirates NBD’s settlement policies.
Additional fees may include processing fees and valuation fees. For a detailed fee structure, please refer to the loan agreement or contact Emirates NBD.
Failure to repay the loan can result in legal action and loss of the property. It is important to discuss any financial difficulties with Emirates NBD to explore possible solutions.
You can apply online here to start your application process.
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Borrow wisely

Understand mortgages better

Borrow wisely – a few things you should know

  • If you don’t make the monthly payments towards your loan on time, you will incur a late payment fee
  • Missing repayments can affect your credit score, limiting your ability to access loans or financing in the future
  • If you refinance your loan or defer your payments, your loan will take longer to pay back and you may pay more interest
  • If you can’t meet a monthly payment, apply in advance for a deferment. You can do this up to twice a year.

It’s important to read the terms and conditions and know the fees and charges before you apply for a loan.

 

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