FGB Personal Installment Loan

Zero Balance Free account
first-gulf-bank Bank

WarningMessage This product is by the Bank

Personal Installment Loan

Minimum Salary

AED 5K

Flat Rate

11.02%

Reducing Rate

20%

Loan Amount

AED 200K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 5K

Minimum Salary

11.02%

Flat Rate

20%

Reducing Rate

AED 200K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • The loan is provided for a interest rate of 20%
  • Minimum salary of AED 5,000 is required
  • The reduction rate and the flat rate is 20% and 11.02%. This denotes that the computation done was a division of the reduction rate by 1.814
  • It is not mandatory to transfer your salary
  • Finance up to AED 200,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 1% of loan amount

Benefits

  • Applicants can get up to AED 200,000 loan amount
  • Documentation is simple and easy
  • There is low salary requirement and long repayment period along with this scheme

Frequently Asked Questions

Q. Will my credit score get checked before approving my application?

A. No, as you are new to UAE there will be no credit score check, but the bank officials check your DBR before approving the loan.

Q. What are the additional benefits provided?

A. On the approval of the loan, the loan applicant gets a free international debit card.

Q. Who all can apply for this finance?

A. Applicants who are employed at government, semi government or a reputable private organization.

Q. What all documents do we need to submit to be eligible for this finance?

A. You need to submit 1 month bank statements, salary certificate letter addressed to First Gulf bank, copy of valid passport, residence visa and Emirates ID.

Q. Is it mandatory to get the insurance cover for the loan?

A. Yes, it is mandatory to get the insurance cover for the loan.

FGB

First Gulf Bank (FGB) was established in 1979 to offer all sorts of financial services to consumers and business houses by creating an extensive network of relationship managers and branches. FGB is known for its high-end commitment in maximizing value for customers, employees, and shareholders. It focuses exclusively on delivering banking products and services as per client's requirements that also support the UAE’s dynamic economy.