Manama, Bahrain—19 June 2021: The National Bank of Bahrain (NBB) has extended its mortgage loan repayment period from 25 years to 30 years for customers benefiting from Mazaya and Joint Housing financing.
The extension comes as part of NBB’s continuous efforts to meet the needs of its customers with flexible loan solutions, and alleviate some of their financial burdens especially during these challenging market circumstances. New Mazaya and Financing beneficiaries will now be eligible to apply for Joint Housing and Mazaya finance for up to 30 years as the Bank seeks to offer services that aim to facilitate the loan process.
Commenting on the announcement, Mr. Subah AlZayani, Chief Executive of Retail at NBB, said: “We are pleased to extend the mortgage loan repayment period up to 30 years for our Mazaya and Joint Housing customers who seek a more flexible payment plan. With this option, we aim to reduce their monthly financial commitments while increasing their disposable income, thus, enabling our customers to enjoy the experience of owning their new home in a cost-efficient manner.”
In addition to this extension, customers can avail from a complementary suite of loan offers in the form of attractive interest rates, fast approval process, free fire insurance, amortised life insurance, amortised property fees with no additional charges and zero interest and a waiver of the property evaluation fees.
For more information about NBB loans please visit nbbonline.com, contact 1721 4433, or stop by any of our NBB branches to explore the mortgage financing options available to you.