EIB's Bina home finance deal for Emirati customers is the only mortgage product of its kind in the UAE. Pawan Singh / The National
EIB's Bina home finance deal for Emirati customers is the only mortgage product of its kind in the UAE. Pawan Singh / The National

Deals of the Week: New loan aimed at 'dream home' customers



Emirates Islamic Bank (EIB) has opened up the nation's mortgage market by introducing 100 per cent home loans for Emiratis.

The Bina'a home finance solution is the only mortgage product currently on offer in the UAE that fully covers the financing of a new home. The Sharia-compliant deal comes with a variable rate starting from 4.99 per cent and pre-approval within 24 hours.

Emirati customers also have the option of a five-year fixed rate starting from 5.99 per cent and can apply for a loan for completed properties as well as new developments.

"The Bina'a solution was developed specifically to address the needs of Emiratis who aspire to owning their dream home," says Faisal Aqil, the general manager of retail banking for EIB.

"The mortgage loans are simple and hassle-free, which only leaves customers with deciding which property to buy or [the] location to build their perfect home."

Bina'a, which is Arabic for "to build", also includes benefits such as no processing fee for buyouts, a 60-day instalment deferment and a cash-release option from completed properties.

For more information, go to www.emiratesislamicbank.ae.

***

Mortgages are certainly the flavour of the moment, with Emirates NBD (ENBD) also announcing an expansion of its home loan portfolio. The nation's biggest bank by assets announced this week it is now offering home loans to expatriates living in the UAE as well as Emiratis.

Available for a limited period only, the package includes interest rates from 4.49 per cent and the option to fix rates and instalments for up to seven years. The deal also comes with a 50 per cent discount on processing fees, a free property valuation and free life, property and home contents insurance for the first year.

"With the stabilisation of the residential freehold property market and the growth in the economy, more and more expatriates are looking to buy a property," says Shekhar Krishnamurthy, the head of retail assets and liabilities at ENBD. "This special offer on mortgage loans for expatriates has been developed in response to the evolving needs of our customers and will offer them a variety of convenient home financing solutions to choose from."

Employed and self-employed expats can borrow up to 85 per cent of the property value with this offer and those with existing mortgage deals can transfer. Those wishing to raise some cash can also apply for the bank's Loan Against Property option.

Go to www.emiratesnbd.com for details.

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Results

Stage seven

1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24

2. Adam Yates (GBR) Ineos Grenadiers, at 1s

3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s

General Classification

1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16

2. Adam Yates (GBR) Ineos Grenadiers, at 22s

3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Spec%20sheet
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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Results

6.30pm: Dubai Millennium Stakes Group Three US$200,000 (Turf) 2,000m; Winner: Ghaiyyath, William Buick (jockey), Charlie Appleby (trainer).

7.05pm: Handicap $135,000 (T) 1,600m; Winner: Cliffs Of Capri, Tadhg O’Shea, Jamie Osborne.

7.40pm: UAE Oaks Group Three $250,000 (Dirt) 1,900m; Winner: Down On Da Bayou, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: Zabeel Mile Group Two $250,000 (T) 1,600m; Winner: Zakouski, James Doyle, Charlie Appleby.

8.50pm: Meydan Sprint Group Two $250,000 (T) 1,000m; Winner: Waady, Jim Crowley, Doug Watson.