June 15 2011, Sharjah, UAE: United Arab Bank has recently caused great excitement in the residential mortgage market by announcing the lowest interest rate in the UAE.
With an interest rate of 4.99%, this is a welcome addition to the mortgage landscape for customers who are looking for a sensible alternative to bring down their monthly commitments. UAB offers this product to Salaried and Self Employed UAE Nationals as well as Expatriates with Conventional and Islamic financing options.
Paul Trowbridge, Chief Executive Officer, United Arab Bank commented "This new initiative further re-emphasizes the bank's overall strategy to focus on UAE nationals and committed expatriates and offer products that match their needs and aspirations. We strongly believe this will bring renewed impetus to the mortgage market and gives our target customers an opportunity to own their own home with the most competitive interest rate in the market."
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