Personal Loan Provided By FAB
| FAB Personal Loan Details | |
|---|---|
| Minimum Salary | AED 2000 - AED 10000 per month (depends on the nationality and type of loan) |
| Profit Rates | Flat rate: 1.62% - 6% | Reducing rate: 2.94% - 15% |
| Maximum Loan Amount | AED 500K - AED 5000K(depends on the nationality and type of loan) |
| Early Settlement Fees | 1.05% of the outstanding amount |
| Arrangement Fees | 1.05% of the approved loan amount |
| Tenure | 48 months |
| Age | 21 - 60 years(Expats) & 65 years(UAE Nationals) |
Features of FAB Personal Loan
- High finance amount is provided
- Quick processing of loan
- Hassle free documentation
- Interest rates start from 1.62%
- Provides finance for people new to UAE/Employment also
Eligibility Criteria of FAB Personal Loan
- A minimum salary of AED 7000 is required
- Only UAE nationals and expats are eligible
Documents Required of FAB Personal Loan
- Valid passport
- Emirates ID
- 3-6 months bank statements are needed
- Salary transfer letter(depends on the loan type)
- Salary certificate(depends on loan type)
FAB Personal Loan Interest rates
8 Personal Loans Provided By FAB
Frequently Asked Questions
Q. Should we provide original passport?
A. Original passport should be provided for verification. You must provide a photocopy of passport along with other documents.
Q. Are new to UAE applicants eligible?
A. Yes. New to UAE applicants are eligible for FAB New to UAE/Employment personal loan.
Q. What is the maximum tenure provided on the loans?
A. The maximum tenure provided on a personal loan is 48-60 months.
Q. Are Etihad guest miles provided on all the FAB loans?
A. No. Only Etihad guest loan holders are eligible for Etihad guest miles.
Q. Is it mandatory to have a fixed deposit to get a loan at FAB?
A. No. Only for FAB Secured loan, you must have a fixed deposit as collateral.
Q. Are there any late payment fees charged?
A. Yes. 2.10% of the delayed installment will be charged as late payment fees.
Q. What are the charges on life insurance?
A. 1%-1.50% of the disbursed loan amount will be charged as life insurance fees.
Q. Are there any fees for cancellation of the loan after getting approved?
A. Yes.That option is available with a fees of AED 105.
Q. What’s the loan amount that is provided for expats?
A. The loan amount provided for expats is AED 2000K.
Q. How much time does it take to get the amount credited once the loan is approved?
A. It usually takes 3-7 days to get the amount credited once the loan is approved.
Q. Is there any rescheduling loan facility? If so what are the charges applied on it?
A. Yes. Rescheduling facility is available with a fees of AED 262.5.
Q. Is there any facility of loan deferment available with FAB?
A. Yes, loan installment deferment facility is available with a payment of AED 105.
Q. Will my loan application get rejected if I don’t meet the salary requirement mentioned for loan?
A. Yes, your salary should meet the requirement specified by the bank to get your loan application approved.
Q. What are the other personal loans provided for UAE Residents?
A. Other than FAB, you can check various personal loan in UAEhere.
About FAB
FAB is one of the largest banking institutions established in 2017 and is a merger of NBAD and FGB. FAB offers tailor made solutions, products and services to the customers.The international network of FAB is spread over 5 continents providing global relationships, expertise and financial strength to local and international business. FAB offers its diversifying services by having differentiation, agility and innovation as their main motto and vision