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Bahrain - NBB provides free fire insurance to homebuyers

Tuesday, 03 16 2021, Category: Banking, Country: Bahrain
The National Bank of Bahrain (NBB) has announced a new added feature to homebuyers whereby the Bank will be providing its customers free fire insurance coverage for residential properties.

NBB will offer free fire insurance coverage for any property purchased through any of NBB’s mortgage loan solutions. The arrangement aims to reduce the financial burden on mortgage loan customers, a step that was taken as a result of the Bank’s commitment to providing unparalleled services that drives a higher customer satisfaction.

Mohamed Raees– Head of Retail Relationship Management, at NBB, said: “We are pleased at this positive step that falls in favour of our customers. The initiative was made with our customers in mind, and we aim to continuously assess the various requirements that arise when planning for a house and to better anticipate the responsibilities that our customers come across in the process. As the National Bank of Bahrain, we will continue to provide our customers with various housing solutions in coordination with a number of key developers in the country, to fulfil our customers’ needs.”

NBB offers up to 90% mortgage financing of property value for its customers, as well as competitive interest, for a tenure up to 25 years. Furthermore, NBB customers can also enjoy faster and more convenient processing times for their loan request applications.

Source: Trade Arabia
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