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| | | | | | Start-Up loans to UAE Nationals | | | | Newly recruited U.A.E. National employees of Government, Semi-Government and ADNOC Group of Companies, who have not completed their employer’s probationary period (including GHQ, Ministry of Interior UAE national customers)
apply
online now. | | | Entitlement
| UAE
Nationals | Minimum salary required | AED 10,000 & above | Loan ceiling | AED 250,000 | Loan amount (subject to specified ceilings) | Up to 25 X monthly salary | Repayment term | 96 months (8 years) | Monthly repayment instalment. | Up to 50% of mandated salary. |
| | | | Documentation: | | |
- Copy of passport including last page for UAE national's
- Salary certificate
stating present salary and length of service
- Salary and EOSI transfer
documents from employer
- 1st. Installment may be deferred till 3rd.
month of disbursement of loan
| | Interest Rate | Entitlement
| | UAE National |
- Prime + 2.5%
- Above rate + 1% - for private sector employees
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| Other Notes |
- The Bank must receive the first salary credit, direct from the employer, before allowing disbursement of the loan. However, this may be dispensed with, at the discretion of the Branch Manager, if he/she:
- has received the copy of the Letter of Authority to Employer duly acknowledged by the employer, or the Letter of Confirmation from the employer (as the case may be), confirming that the customer’s salary will be transferred to NBAD, and
- has verified the authenticity of the acknowledgement or the letter by directly checking with the employer (by telephone or otherwise).
- Any request that does not meet the above mentioned criteria may be referred to Manager, RCU-RMD for consideration.
- All other PIL policies apply.
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| | | For
more information for approved listed companies of category A & B, please call
8002211. |
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