FAB Personal Loans in UAE
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Check Eligibility for FAB Personal Loan
FAB Personal Loan Calculator
|FAB Personal Loan Details|
|Minimum Salary||AED 7000 - AED 10000 per month (depends on the nationality and type of loan)|
|Profit Rates||Flat rate: 1.62% - 5.49% | Reducing rate: 3.99% - 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 loan amount|
|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
|FAB Personal Loans||Minimum Salary||Salary Transfer|
|Secured Loans||AED 10,000||No|
|Buyout Loans||AED 10,000||Yes|
|Personal Loan for Expats||AED 7,000||Yes|
|Personal Loan for UAE Nationals||AED 7,000||Yes|
|Etihad Guest Personal Loan||AED 7,000||Yes|
|Debt Consolidation Loan||AED 10,000||Yes|
|New to UAE/ Employment Loan||AED 10,000||Yes|
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)
First Abu Dhabi (FAB) Personal Loan Interest rates
7 Personal Loans Provided By First Abu Dhabi (FAB)
Frequently Asked Questions
⭐ Should we provide original passport?
A. Original passport should be provided for verification. You must provide a photocopy of passport along with other documents.
⭐ Are new to UAE applicants eligible?
A. Yes. New to UAE applicants are eligible for FAB New to UAE/Employment personal loan.
⭐ What is the maximum tenure provided on the loans?
A. The maximum tenure provided on a personal loan is 48-60 months.
⭐ Are Etihad guest miles provided on all the FAB loans?
A. No. Only Etihad guest loan holders are eligible for Etihad guest miles.
⭐ 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.
⭐ Are there any late payment fees charged?
A. Yes. 2.10% of the delayed installment will be charged as late payment fees.
⭐ What are the charges on life insurance?
A. 1%-1.50% of the disbursed loan amount will be charged as life insurance fees.
⭐ Are there any fees for cancellation of the loan after getting approved?
A. Yes.That option is available with a fees of AED 105.
⭐ What’s the loan amount that is provided for expats?
A. The loan amount provided for expats is AED 2000K.
⭐ 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.
⭐ 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.
⭐ Is there any facility of loan deferment available with FAB?
A. Yes, loan installment deferment facility is available with a payment of AED 105.
⭐ 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.
⭐ What are the other personal loans provided for UAE Residents?
A. Other than FAB, you can check various personal loan in UAEhere.
⭐ What are the interest rates charged on a personal loan in FAB?
A. The interest rates charged on a personal loan in FAB are, Flat rate: 1.62%(onwards) and Reducing rate: 2.94%(onwards).
⭐ What is the processing fees charged on FAB personal loan?
A. 1.05% of the approved loan amount is charged as a processing fees on FAB personal loan.
⭐ What is the early settlement fees charged on FAB personal loan?
A. 1.05% of the outstanding loan amount is charged as a processing fees on FAB personal loan.
First Abu Dhabi Bank (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
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