Manama: The National Bank of Bahrain (NBB) announced that it would now be extending its offering to include the recently launched housing project ‘Deerat Al Oyoun’, located in Diyar Al Muharraq.
This comes as the NBB has signed an agreement with the Ministry of Housing to provide housing loans for Mazaya Scheme beneficiaries.
For the first time in Bahrain, the NBB will provide exceptional offers for this specific development through its Mazaya Social Housing Finance Scheme, with those wishing to purchase their dream home in ‘Deerat Al Oyoun’, able to benefit from NBB covering the property registration fees up to 1.7% of the property value.
In line with its commitment to being closer to its customers, and in addition to covering property registration fees, NBB will also waive loan processing fees. The Bank will also facilitate a quick and seamless approval process for customers within one working day. As an added benefit, no down payment will be required and customers will be provided with a repayment period of up to 25 years for the total value of the property ad a competitive rate.
“As the national bank, it is our duty to support the directives of our wise leadership by providing housing for citizens. By offering beneficiaries of the Mazaya Social Housing Finance Scheme with exceptional offers, we are able to assist them with finding a suitable home in ‘Deerat Al Oyoun’. As a gesture, we will be bearing the property and land registration fees up to BHD 2,000 in addition to waiving all loan processing fees inclusive of evaluation fees up to BHD 300, as NBB remains committed to being closer to its customers by providing solutions to help them purchase the home of their dreams,” Subah A Latif Al Zayani, Chief Executive Retail Banking, said.
Designed to offer the ideal home for Bahraini families, Deerat Al Oyoun is a welcoming community that is both friendly and affordable. Located at the heart of Diyar Al Muharraq, it will offer residents a wide range of amenities and attractions in close proximity.
NBB customers who are interested in purchasing a house at Deerat Al Oyoun will benefit from no processing fees and charges and special interest rates on a second mortgage loan.
