Emirates NBD overhauls April mortgage pricing — 5-year fixed discontinued, processing fees return

Emirates NBD has rolled out the most significant mortgage repricing of Q2 so far. The headline change is the discontinuation of the 5-year fixed product, but several other adjustments — particularly to processing fees — change the math for refinancers and equity-release customers.

What changed

Eight key updates apply with immediate effect:

1. 5-year fixed pricing discontinued.
2. 3-year pricing revised across Rental Income, Equity Release (STL, NSTL, and Self-Employed/Others), Land Finance, and Building Finance.
3. Nil processing fees withdrawn across the board — except for Abu Dhabi properties and fully variable-rate cases.
4. 2-year and 3-year pricing on 10-year tenor is now restricted to self-employed customers, with no in-tenure tenor extension permitted.
5. STL (Salary Transfer Letter) requirement softened: not mandatory if salary credits have hit the ENBD repayment account for the past 12 consecutive months — though the STL clause still appears in the Final Offer Letter.
6. Nil processing fees now apply only to pure buyout cases. Cash-out and equity-release transactions attract a 1% processing fee regardless of customer profile.
7. Top-up amounts attract a 1% processing fee in all cases.
8. Early Settlement Fee on top-ups reduced to 0.50% or AED 5,000 (whichever is lower) plus VAT.
9. Life insurance is mandatory for SZHP Zero cases.

Who this affects

If you were planning to refinance with ENBD on a buyout-plus-equity structure, the new 1% fee applies to the equity portion — meaningful if you are pulling out a large sum. On a AED 1M equity release, that is AED 10,000 you were not paying before.

The discontinuation of 5-year fixed pricing matters most to buyers who value rate certainty. ENBD now caps fixed at 3 years for most segments — pushing customers either toward 3-year fixed (with a refinance event built in) or fully variable.

Long-time ENBD customers benefit from the relaxed STL rule. If your salary has gone into ENBD for 12+ months, you avoid one of the more frustrating documentation steps.

What to do next

If you locked in a 5-year fixed before this update, your existing terms remain. If you are shopping for a 5-year fixed today, two other UAE banks still offer it competitively — we can compare the all-in costs side by side.