| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
National Bank of Bahrain - Home Loan
|
Minimum Salary: BHD 350 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 25 Years | Flat Rate: 3.0 | Reducing Rate: 5.3 |
Take advantage of new improved terms from National Bank of Bahrain. Bahraini staff who work for employers on NBB's approved list are eligible for a maximum loan amount of BHD 350,000 repayable over a maximum period of 300 months.
Features & Benefits:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Features & Benefits:
- Flat rates starting from 3% and reducing rates starting from 5.3%
- Maximum term is up to 25 years
- Maximum Loan is BD 350,000
- You can also combine your income with your spouse's income and avail bigger loans at competitive interest rates
- Loans are granted to assist in the purchase of a new house / flats, construction of a new house, purchase of land or for major improvements and renovations to existing houses and flats
Representative example:
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
