Abu Dhabi has announced a groundbreaking initiative to provide interest-free marriage loans of up to Dh150,000 for eligible newly married Emiratis. This initiative aims to support the financial stability and well-being of young Emirati families.
Key Takeaways
- Interest-free loans of up to Dh150,000 for newly married Emiratis.
- Applicants must be employed and hold an Abu Dhabi family book.
- Applications open from early September 2024.
Eligibility Criteria
To qualify for the interest-free marriage loan, applicants must meet the following conditions:
- The husband must be at least 21 years old, and the wife must be at least 18 years old at the time of marriage.
- The husband must hold a Family Book issued in Abu Dhabi.
- The application must be submitted by the husband.
- The husband’s monthly employment income must be less than Dh60,000.
- Registration should be done on the Medeem Digital Platform.
Implementation and Goals
The initiative is part of the Abu Dhabi Family Wellbeing Strategy and the Emirati Family Growth Programme, launched by the Department of Community Development – Abu Dhabi. The primary goal is to enhance the quality of life for families, youth, and parents in the Emirate.
Application Process
The Abu Dhabi Social Support Authority (SSA) will start receiving applications from early September 2024. Interested applicants are encouraged to register on the Medeem Digital Platform to begin the application process.
This initiative is expected to provide significant financial relief to young Emirati couples, enabling them to start their married lives on a stable financial footing.