COVID-19: Emirates NBD supporting the UAE economy

COVID-19: Emirates NBD supporting the UAE economy

As the cases of COVID-19 rise around the world, Business Chief outlines Emirate NBD 's response to the outbreak.. The measure's will support the UAE government and UAE Central Bank six month economic stimulus package and the Dubai Government three month economic stimulus package.. "Emirates NBD's measures support the plans that have already been put in place by our nation's wise and visionary leadership to keep the UAE safe and prosperous.. We recognise the need to protect those most vulnerable and are committed to lending a helping hand during this uncertain time,". Retail loan customers on unpaid leave can ask for a repayment holiday of up to three months. Those who have availed personal loans, auto loans or mortgages can apply for a one-month repayment holiday. All first time home buyers can benefit from a 5% increase in the Loan-to-Value ratio (LTV) and a waiver of processing fees. Availed merchant, equipment or business vehicle loans impacted by COVID-19, can apply for a repayment holiday of three months. Reduction of the monthly minimum balance required for basic business banking account and minimum banking charged removed for three months. Customers using digital platforms to received a significant reduction in transaction processing