HSBC has introduced home loans for a small selection of properties in Abu Dhabi.
Buyers will be able to secure loans on finished residential properties by Aldar Properties and the Tourism Development & Investment Company (TDIC).
“Attractive opportunities in the housing market are encouraging more people to consider owning a home in the UAE,” said Marwan Hadi, head of Retail Banking and Wealth Management, HSBC UAE.
“We will cater to that demand and provide access to locations our customers want. We are looking to cover more developers in Abu Dhabi in the future,” Hadi said.
HSBC finances up to 80% of a property for nationals and 75% for expatriates. Repayment rates start at 3.49%. Buyers can take out a new loan or transfer existing ones. Salary transfers are not necessary and anyone who takes out a loan gains the bank’s Premier customer status.
Early repayments of up to 25% of the outstanding loan are allowed each year and there is no early settlement charge after the first three years of the loan.