Financial Terms Starting With O

Mortgage finance for eligible property purchased before completion. Current CBUAE mortgage rules cap Loan-to-Value for off-plan property at 50% across borrower categories, subject to the lender's additional credit and project requirements.

Insurance protection that is not included automatically in the base policy and can be selected for an additional premium or under specified package terms.

A temporary security code used to authenticate a login or transaction. Customers should never disclose an OTP to someone claiming to need it to receive money or reverse a transaction.

Healthcare treatment received from a provider outside the medical plan's contracted network. It may be excluded, reimbursed at a lower rate or require the member to pay first and claim later.

The amount still owed on a credit card, loan or other credit facility at a particular point. It can include principal, posted transactions and other amounts due depending on the product.

A transaction or account position above the approved credit limit. Whether the transaction is allowed and whether a fee applies depends on the issuer's terms and applicable fee rules.

A credit facility linked to an account that allows approved spending beyond the available account balance up to a limit. Interest or profit and fees can apply to amounts used.

Also known as

OD

A borrower purchasing or owning a property primarily to live in rather than as an investment. CBUAE mortgage LTV rules distinguish first-home owner-occupiers from subsequent or investment properties.