NBB and Eskan Bank launch joint housing loan services

MANAMA: National Bank of Bahrain (NBB) is launching a new joint housing product offering in conjunction with Eskan Bank.

The product is designed for beneficiaries of housing loan services offered by the Housing Ministry.

Upon signing the agreement with Eskan Bank, NBB will jointly mortgage the properties financed by both banks, offering attractive interest rates to applicants with loan tenors reaching up to 25 years.

A wider range of payment solutions will be offered by the two banks for purchase of a property, investment, and payment of other banks’ obligations.

Dr Khalid Abdullah, general manager of Eskan Bank, expressed his pleasure at the partnership with NBB, saying: “We are very pleased to sign this agreement with NBB to provide joint housing loan solutions for citizens and beneficiaries of the Mazaya scheme, starting from January onwards.”

NBB chief executive for retail banking Subah Al Zayani said: “We strive to be influencers on strategic partnerships, and to become value-adding partners to the kingdom and stimulate the real estate sector by contributing in a meaningful manner to its continued growth and prosperity.”

Source: https://www.gdnonline.com/Details/935220