Tenor

The word “tenor” means the duration or length of time given to repay a loan.

In simple terms, if your mortgage tenor is 25 years, it means you have 25 years to repay the mortgage through monthly installments.

In the UAE, the maximum mortgage tenor is usually 25 years, and the minimum tenor is usually 3 years. However, the final tenor also depends on the applicant’s age.

For a salaried applicant, the mortgage tenor is normally capped until the applicant reaches 65 years old. For a self-employed applicant, the tenor is normally capped until the applicant reaches 70 years old. This means the bank will apply whichever comes first: the maximum 25-year tenor, or the applicant’s age limit.