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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)

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.

Interest Rate

UAE National
  • Prime + 4%(amend)
  • Above rate  + 1% - for private sector employees

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:
    1. 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
    2. 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.

*Rates / terms are subject to change from time to time
*All Loans are subject to Bank’s approval. For more details call 8002211 or visit any of NBAD branches

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