Introduced by the Central Bank of the UAE in March 2019, the NLS is a financial solution for UAE National customers who have a debt burden ratio (DBR) exceeding 50% and a tenure exceeding four years.
The NLS is based on an individual’s finances, (excluding home finance and finance against shares/deposits) being combined and restructured, then reducing the profit rate by applying the 3-month EIBOR*.
In confirming its participation and support for the NLS, Al Hilal Bank will receive finance applications from UAE National customers who meet the NLS criteria, as outlined by the Central Bank.
We will contact our eligible customers by phone, SMS and email during the availability period. Eligible customers can also contact us directly to enrol in this scheme.
* EIBOR is the UAE Dirham Interbank Offered Rate. Where the finance profit rate is based on EIBOR, the amount of the instalment to be repaid may vary from time to time as a result of fluctuations in EIBOR.
All finance approvals are at the sole discretion of Al Hilal Bank, subject to Al Hilal Bank's terms and conditions applicable to the finance, and upon submission of documentation acceptable to Al Hilal Bank.
Al Hilal Bank Terms and Conditions apply, which are subject to change without prior notice and are available on the Al Hilal Bank website alhilalbank.ae.