Non-Salary Transfer Loan (NSTL)

In the UAE, mortgage products may be offered on either a Salary Transfer Loan (STL) or Non-Salary Transfer Loan (NSTL) basis. A Non-Salary Transfer Loan (NSTL) is a mortgage where you are not required to transfer your monthly salary to the bank providing the mortgage. Your salary can continue to be credited to your existing bank account, allowing you to take a mortgage from a different bank without changing your salary-banking relationship. All UAE banks offer mortgage products where salary transfer is not mandatory. 

Under an NSTL mortgage, the lending bank will still need to verify your income and affordability. This may include reviewing your salary certificate, employment documents and bank statements showing regular salary credits. Although your salary is not transferred, the bank may require you to open an account for servicing the mortgage or set up a Direct Debit Authority from your existing bank account for the monthly instalments. Therefore, NSTL does not mean that no account or repayment arrangement is required, it only means that your salary does not need to be credited to the mortgage bank. 

The overall mortgage process remains the same, however, a salary transfer letter is generally not required under an NSTL mortgage. During the Final Offer Letter stage, the bank will confirm the repayment account and the Direct Debit or other payment instructions that must be completed before disbursement.

As your salary is not linked to the mortgage bank, changing your employer or salary account is generally more flexible. However, you should update the mortgage bank if there is a material change to your employment or income. If you change the account used for mortgage repayments, a new Direct Debit Authority or repayment instruction may be required. You must continue maintaining sufficient funds for each monthly instalment, as changing jobs, changing salary accounts or losing employment does not suspend your mortgage repayment obligations.