New interest-free home loans for UAE nationals approved

Friday, 27 May 2022 09:23

By ARN News Staff

The UAE government has approved interest-free housing loans for its citizens.

Making the announcement, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said select national banks will disburse the loans.

Sheikh Zayed Housing Programme (SZHP) will cover the interest rate, while the principal amount of the loan will be paid by the UAE nationals.

It will benefit 13,000 Emirati families in Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah in the first phase of the plan, which will take place between 2022 and 2026.

A total of AED 11.5 billion will be given to select families under the scheme.

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News

Dubai Police waives traffic fines incurred on April 16
Dubai Police will drop traffic fines incurred by motorists on April 16 when the city experienced extreme weather conditions.
UAE allocates AED 2 billion to deal with rain-damaged homes
The UAE cabinet has approved a AED 2 billion package to deal with damages to citizens' homes during the recent severe weather conditions.
Over 1,300 firms fined for breaking Emiratisation rules
As many as 1,320 private establishments have been caught violating Emiratisation rules since mid-2022.

New interest-free home loans for UAE nationals approved

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New interest-free home loans for UAE nationals approved

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