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First Abu Dhabi Bank (FAB) Credit Card Loan

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First Abu Dhabi Bank is one of the oldest and best-performing banks in the UAE. It offers a broad range of banking solutions and services such as bank accounts, credit cards, fixed deposits, loans, mortgages and more for both individual and corporate customers. 

FAB credit cards offer many useful features and benefits for cardmembers. With these cards, the cardholders can enjoy exciting deals and discounts on dining, travel, entertainment, lifestyle and more. Additionally, they can get benefits like travel insurance, cash in advance, instant loans, purchase protection, extended warranty, balance transfers, and more to save more on their expenses. In this post, we will help you learn what FAB credit card loans are and how they work. 

What is FAB Credit Card Loan?

First Abu Dhabi Bank credit card loan is an amount that the bank provides its card members against their credit card. The cardmembers can use this amount to meet their financial requirements. Not all cardmembers are eligible for a FAB credit card loan. Only cardmembers with a good credit history and repayment record can apply for this loan.

The bank goes through the details of all the applicants and informs them about their eligibility status on their registered email address. The best part about this type of loan is that the applicants do not need to go through any additional documentation for the same. All they need to do is show their credit card, provide their identity proof and verify the signatures stored in the bank’s database.

Keep reading to find out how FAB credit card loans work and how you can apply for one with great ease.

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Types of First Abu Dhabi Bank (FAB) Credit Card Loans

Here are the types of First Abu Dhabi Bank (FAB) credit card loans that the applicants can opt for. 

  • Instant Cash Loan
  • Balance Transfer
  • Easy Instalment Plans
  • Quick Cash

Instant Cash Loan

First Abu Dhabi Bank offers instant cash loans for cardmembers against their FAB credit card. The cardmembers with good credit reports and repayment history can apply for this type of loan and get the funds to meet their financial requirements. They can apply for this loan both online and offline. The best part is that they do not need to submit any additional documents to get the same approved. 

Particulars

First Abu Dhabi Bank  Credit Card Cash Loan Details

Eligibility

First Abu Dhabi Bank credit card loan offers are not for all cardmembers. The bank goes through the credit history and repayment capabilities of the applicants and provides a credit card loan based on the same. FAB informs the cardmembers about their eligibility status via SMS or email.

Documentation

No additional documents are required for pre-approval.

Interest Rate

First Abu Dhabi Bank credit card loan interest rates are communicated by the bank.

The cardmembers can convert the loan amount into easy monthly EMIs and repay the same depending upon their financial preferences. 

Balance Transfer

First Abu Dhabi Bank credit card members can also use a balance transfer facility to repay their dues. They can simply consolidate and transfer their other bank credit card’s outstanding amount to their FAB credit card and convert the same into easy monthly installments for convenient repayments. The cardmembers need to send an SMS mentioning ‘BT’ to First Abu Dhabi Bank credit card loan contact number 2121 to avail of the service.

Particulars

First Abu Dhabi Bank Credit Card Cash Loan Details

Eligibility

First Abu Dhabi Bank credit card loan offers are not for all cardmembers. The bank goes through the credit history and repayment capabilities of the applicants and provides a credit card loan based on the same. FAB informs the cardmembers about their eligibility status via SMS or email.

Documentation

No additional documents are required for pre-approval.

Balance Transfer Limit

90 per cent of your pre-approved credit limit

Loan Tenure

Up to 12 months

Interest Rate

First Abu Dhabi Bank credit card loan interest rates are communicated by the bank.

Easy Instalment Plans

First Abu Dhabi Bank credit card members can use easy installment services on their credit cards to make quick payments for huge purchases. They can convert this amount into monthly EMIs and pay them later to the bank based on their financial convenience. The credit card members can call the bank’s helpline number to avail of this service. The applicants with access to online or mobile banking portal can also login to the same and convert their huge purchases amount into monthly installments.

Particulars

First Abu Dhabi Bank Credit Card Cash Loan Details

Eligibility

First Abu Dhabi Bank credit card loan offers are not for all cardmembers. The bank goes through the credit history and repayment capabilities of the applicants and provides a credit card loan based on the same. FAB informs the cardmembers about their eligibility status via SMS or email.

Documentation

No additional documents are required for pre-approval.

Interest Rate

First Abu Dhabi Bank credit card loan interest rates are communicated by the bank.

Quick Cash

First Abu Dhabi Bank credit card members can apply for the Quick Cash facility and get an instant cash loan against their FAB credit card. They can simply log in to their online banking portal and raise a request for the same in just a few clicks. The bank allows cardmembers to avail of cash in advance of up to 90 per cent of the available credit limit. 

Particulars

First Abu Dhabi Bank Credit Card Cash Loan Details

Eligibility

First Abu Dhabi Bank credit card loan offers are not for all cardmembers. The bank goes through the credit history and repayment capabilities of the applicants and provides a credit card loan based on the same. FAB informs the cardmembers about their eligibility status via SMS or email.

Documentation

No additional documents are required for pre-approval.

Interest Rate

First Abu Dhabi Bank credit card loan interest rates are communicated by the bank.

Cash Advance Fee

3.15 percent of the cash amount obtained or a minimum of AED 157.50 per transaction

Cash advance Limit

90 percent of the credit card limit

The cardmembers need to send an SMS mentioning ‘QC’ to First Abu Dhabi Bank credit card loan contact number 2121 to avail of the service. 

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How to Apply for a Loan against FAB Credit Card?

Here are the major ways that applicants can use to apply for a credit card loan.

  • Bank’s Branch
  • Online Banking
  • Mobile Banking
  • Phone Banking
  • Bank’s Website

Bank’s Branch

The cardmembers can visit one of the nearest First Abu Dhabi Bank branches and contact one of the bank’s representatives to apply for their preferred type of FAB credit card loan. They do not need to carry any documents other than their credit card to the branch. All they need to do is show their credit card, provide their identity proof and verify their signature to complete the application. 

Online Banking

Applying through online banking is one of the most convenient ways of applying for a FAB credit card loan. All that the applicants need to do is go to the credit cards section on the portal and place a request for their preferred type of credit card loan in just a few clicks. The best part is that no additional documents are required to apply for the loan online.

Mobile Banking

The FAB mobile banking app offers all the banking products and services right at the cardholders’ fingertips. They can simply download the app from their chosen app store, register on the same, and apply for a credit card loan in minutes. Once done, one of the bank’s representatives will contact the applicant to verify their identity and process the application.

Phone Banking

First Abu Dhabi Bank offers some unique codes for each banking product and service activation. The cardmembers can call the bank’s helpline to find out the code for their preferred type of FAB credit card loan and send an SMS mentioning the same from their registered mobile number. Once done, one of the bank’s representatives will contact the applicant to verify their identity and process the application.

Bank’s Website

The applicants can also fill the online application form available on the First Abu Dhabi Bank’s website to apply for a credit card loan. In the form, they need to mention their name, registered phone number, registered email address, loan amount, the preferred mode of disbursal, and a few other things to complete the application.

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Modes of Disbursal of FAB Credit Card Loan

Here are the modes of disbursal of First Abu Dhabi Bank (FAB) credit card loan.

  • FAB Bank Account
  • External Bank Account
  • ATMs/CDMs
  • Cheque via Post

FAB Bank Account

FAB credit card members can get their loan amount disbursed directly into their First Abu Dhabi bank account. The applicants need to provide their bank account details in the loan application form. After the application is approved, it takes around two working days for the bank to disburse the amount into the applicant’s bank account. The turn-around time may vary for different loan types.

External Bank Account

The credit card members who do not have a savings account with First Abu Dhabi Bank can get the loan amount disbursed into an external bank account. They need to provide the other bank account details in the loan application form. 

ATMs/CDMs

First Abu Dhabi Bank credit card members can also get the loan amount added to their credit card balance. They can simply swipe their credit card at any of the FAB ATMs or cash deposit machines to withdraw the loan amount. These types of FAB credit card loans are called cash in advance. The card members need to mention the mode of disbursement in the application form. 

Cheque via Post

If FAB credit card members do not want to share their bank account details, they can request the bank to release a cheque for the loan disbursement. These cheques are sent to the applicant’s registered postal or residential address based upon their preferences. The cardmembers get an option to mention the chosen mode in the loan application form.

How to Repay FAB Credit Card Loans?

Here are a few simple ways through which applicants can repay their credit card loans with great ease.

  • Bank Account
  • Online Banking
  • Mobile Banking
  • Exchange House
  • Bank’s Branch

Bank Account

The borrowers can use their First Abu Dhabi Bank account to make their loan repayments both online and offline. Even if they have a non-FAB bank account, they can add their loan details as a beneficiary and make EMI payments by logging into their chosen bank’s internet banking portal. 

Online Banking

The existing First Abu Dhabi Bank banking customers can make easy loan repayments through the FAB online banking portal in just a few clicks. All they need to do is log in to the net banking portal and go to the credit cards or loans section to make hassle-free repayments.

Mobile Banking

The existing First Abu Dhabi Bank banking customers can also log in to their FAB mobile banking app and make hassle-free loan repayments in no time. They need to access the loans or credit cards section in the app and can repay their loan EMI in just a few taps.

Exchange House

First Abu Dhabi Bank credit card members can visit one of the nearest exchange houses and make quick credit card loan EMI repayment through cash or cheque. The card members must contact one of the representatives for safe loan repayment. They must get a receipt for the same.

Bank’s Branch

The applicants who do not have internet access can also visit the First Abu Dhabi Bank’s branch and pay their loan EMI via cash or cheque. They can deposit the amount with one of the bank’s representatives and get a receipt for the same.

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FAQ's On FAB Credit Card Loans

What documents do I need to provide when applying for a loan on my credit card?

Most First Abu Dhabi Bank credit card loans are pre-approved and you do not need to provide any documents for the approval. However, you need to verify your identity and signature to complete the verification process.

 

How do I get a credit card loan against my FAB credit card?

First Abu Dhabi Bank has an easy process for their customers to apply for a loan against their credit card. They need to visit the bank’s website or log in to the online banking portal to fill in the application form. In the form, they need to provide their details like the credit card number, registered mobile number, registered email address, amount of loan, monthly income and more. After submitting the form, they need to wait for one of the bank’s representatives to contact them. The bank will check your credit history and repayment capabilities and approve the loan if everything falls into place.

Are there any extra charges levied on a FAB credit card loan?

The bank levies a processing fee for approving your FAB credit card loan.

What are the factors that affect my FAB credit card loan eligibility?

Your credit rating, changing income levels, and loan repayment history are a few major factors affecting your FAB credit card loan eligibility.

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