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Repayment terms (interest rate, repayment period, fees etc), collateral, covenants, reputation of bank, number of branches... most of all, confidentiality.
Terms of payment of installments and grace period
In UAE looking at the laws after consideration of basic factors as stated by many professionals here, one should go for a bank with the best customer service and one who listens to the customer because come what may happen in offer there is no point in running around for one letter back and forth if bank can help over one phone call. Every bank has the fishing rod by which prospecting is done of clients. So for sure check in advance if one is supposed to be cooked or nurtured in aquarium afterward.
Higher period of repayment.
Lower interest.
No hidden charges. Lowest procesing cost.
No colateral.
Products are diversified in each bank on the basis of Product type, interest rate, hidden expenses, processing fee and services along with the product required.
Go for the bank gives best mix of these all qualities in a product or laon.
1.Our Requirement
2.Cost of Loan-it includes interest; processing charges and other fees
3.Service by the Banker
4.Security requirements
5.Our Period of Requirement
f you’ve applied for a home loan before, you’ll know that it’s a complicated process. Instead of simply choosing a loan and signing up for it straight away, you’ll have to answer a range of questions about your finances and provide evidence to support your answers. This is how lenders determine whether or not you meet the lending criteria.
Lenders assume a certain level of risk when they offer finance to customers. For example, if a borrower defaults on a loan and is unable to repay the borrowed amount. With this in mind, banks and non-bank lenders will have their own set of lending criteria in place to help sort the borrowers they are happy to take on (those who are likely to be able to service their loan) from the high-risk borrowers that may not be able to make repayments on time.
