Mufazzal Kajiji, Head of Retail Banking at Noor Bank
Noor Bank’s constant instalment product allows repayments to remain constant within a certain threshold of the Emirates Interbank Offered Rate (EIBOR) movement.
Wednesday 06, February 2019 BY KUDAKWASHE MUZORIWA
Noor Bank has launched constant instalment product that offers home buyers in the country added convenience in repaying their home finance.
Mufazzal Kajiji, the Head of Retail Banking at Noor Bank, said the product addresses repayment fluctuation issues that home finance customers routinely face, giving them the freedom to better manage their finances.
The constant instalment product allows customers to set up standing instructions for payments as the repayments will be constant, it also gives customers the flexibility to pre-pay up to 20 per cent of the principal every year free of charge.