FAB Personal Loan

First Abu Dhabi Bank, the largest bank in the UAE, is also regarded as one of the largest financial institutions across the globe. FAB offers a wide range of products curated for different types of individuals in the Emirates.

FAB Personal Loan
al hilal Bank Personal Loan
Personal Loan Starting from 2.63%* Interest rate
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

Get personal loan at Lowest Interest Rate

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  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

One such product from the list of offerings of FAB is the personal loan, with the bank providing an extensive range of personal loan products such as personal loans for expatriates, nationals, non-salary transfer loans, and others.

Types of FAB Personal Loans in the UAE

Check out the table below to know the different types of FAB personal loans (for both UAE nationals and expatriates) along with their key features and interest rates -

Types of FAB Personal Loans Features and Benefits Interest Rates* Apply
Personal Loan for UAE Nationals  
  • You can get a loan amount of up to AED 5 million.
  • The bank offers up to 210 days’ grace period before your first instalment.
  • Life insurance coverage is offered by the bank with this personal loan.
  • Hassle-free documentation process
 

Fixed Rate – 3.29% p.a.

Reducing Rate – 6.2% p.a.

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Personal Loan for UAE Expats  
  • You can avail of up to AED 2 million loan amount.
  • You can get a grace period of up to 120 days before paying the first instalment.
  • The bank offers you personal life insurance coverage.
  • Swift loan approvals
 

Fixed Rate – 3.85% p.a.

Reducing Rate – 7.2% p.a.

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New to Country Loans / New to Employment Loans
 
  • You can get a loan of up to AED 1,500,000 (AED 1.5 million).
  • Get comprehensive personal life insurance coverage.
  • Grace period of up to 90 days on the first instalment
  • Loan repayment tenure of up to 48 months
 

Fixed Rate – 3.24% p.a.

Reducing Rate – 6.07% p.a.

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*Interest rates vary as per the applicant’s profile and various other factors

Note: The mentioned interest rates are effective rates on loan outstanding balance. 

General Features and Benefits of FAB Personal Loan

Here are the common key feature and benefits of all the FAB personal loan products in the Emirates:

  • FAB offers various types of personal loans to cater to the needs of a diverse population in the Emirates.
  • The bank allows you to repay your loan amount within a tenure of 48 months.
  • The entire loan documentation process is easy and convenient.
  • The bank assures fast and hassle-free loan approvals.
  • You can get a personal at attractive interest rates with this bank.
  • The bank offers you a grace period before paying off the first instalment. Note that the grace period varies for each FAB personal loan product.

What are the Eligibility Criteria for FAB Personal Loan in the UAE?

Refer to the table below to know the eligibility criteria for all the personal loans offered by the First Abu Dhabi Bank:

Types of FAB Personal Loan Eligibility Criteria Apply
Personal Loan for UAE Nationals
  • You must have a salary of at least AED 7,000 per month.
  • You must be 21+ years old.
  • You must be employed with a reputable private organisation, governmental or semi-governmental organisation.
  • You must have completed a minimum of 6 months or have an employment confirmation from your current employer.
Criteria to be Met for 5.95% Variable Interest Rate
  • You must be working in an organisation approved by FAB and have your salary transferred to a FAB bank account.
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Personal Loan for UAE Expats
  • You must possess a minimum salary of AED 7,000 per month.
  • You must be at least 21 years old.
  • You must be employed with a reputable private organisation, governmental or semi-governmental organisation.
  • You must have completed a minimum of 6 months or have an employment confirmation from your current employer. 
Criteria to be Met for 6.95% Variable Interest Rate
  • You must be working in an organisation approved by FAB, with your salary transferred to a FAB bank account.
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New to Country Loans/ New to Employment Loans
  • You must have a monthly salary of at least AED 10,000.
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Documents Required for FAB Personal Loans in the UAE

To apply for a FAB personal loan, you would be required to necessarily submit the following set of documents -  

Types of FAB Personal Loan Documents Required
Personal Loan for UAE Nationals
  • Signed and completed application form
  • Original and valid copy of Emirates ID
  • Original and valid copy of passport
  • Original and valid copy of the resident visa
  • Salary transfer letter or salary certificate issued to FAB
  • Previous 3 months’ bank statements showing salary credits (if the salary is not credited to a FAB account)
  • Clearance letter or liability letter (in case of buyout loans)
Personal Loan for UAE Expats
  • Signed and filled-out application form
  • Original and valid copy of Emirates ID
  • Original and valid copy of the resident visa
  • Original and valid copy of passport
  • Salary transfer letter or salary certificate issued to FAB
  • Previous 3 months’ bank statements showing salary credits (if the salary is not credited to a FAB account)
  • Clearance letter or liability letter (in case of buyout loans)
New to Country Loans/ New to Employment Loans
  • Original and valid copy of passport
  • Signed and completed application form
  • Original and valid copy of the resident visa
  • Original and valid copy of Emirates ID
  • Salary certificate/ salary transfer letter issued to FAB

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FAB Personal Loan: Fees and Charges

Here are the fees and charges linked to FAB personal loans -

Types of Fees Charges
Processing Fee

1.05% of the loan amount

  • Minimum - AED 525
  • Maximum -  AED 2,625
Processing Fee for Top-up Loans 1.05% of the top-up amount
  • Min. AED 525
  • Max AED 2,625
Instalment Deferral Fee
  • AED 105 per deferment
Late Instalment Payment Fee 2.10% of the delayed amount
  • Minimum - AED 52.5
  • Maximum - AED 210
Life Insurance Fee (Paid to the insurance provider)
  • If charged upfront: 1% - 1.5% of the approved loan amount
  • If charged on a monthly basis: 0.0169% - 0.0171% per month on the loan outstanding balance or as agreed in the personal loan contract
Loan Cancellation Fee AED 105
Loan Rescheduling Fee AED 262.5
Early Settlement Fee from Same Bank Loans 1.05% of the remaining balance (Max AED 10,500)
Early Settlement Fee from Other Bank Loans 1.05% of the remaining balance (Up to AED 10,500)
Early Settlement from Other Sources (Own Sources/ End of Service Benefits) 1.05% of the remaining balance (Max AED 10,500)
Relationship Fee Free

FAB Personal Loan Calculator

A personal loan calculator is an online tool that allows individuals to assess their monthly instalments for a given loan product. These tools are available online on the official websites of the leading banks in the UAE and can be accessed by anyone for free.

Likewise, you can find FAB Bank personal loan calculator on its official website which is available for both loan seekers and existing customers. To access this calculator, all you need to do is select the desired personal loan product and navigate to its page.

Once you are on the page of your preferred FAB personal loan, scroll below and locate the calculator. Enter the relevant details as prompted to get your results instantly. You can even reset the entered values according to your requirements to generate a new result.

As an alternative, you can now also calculate your FAB personal loan monthly instalments on our digital platform - Policybazaar UAE - for free! The process is completely hassle-free and auto-generates your result instantly. So if you are worried about your instalment amount, you can simply visit our website and get an approximate amount even before getting a loan.

FAB Personal Loan: Terms and Conditions

Mentioned below are a few terms and conditions related to the FAB personal loans -

  • The bank retains full and exclusive discretion in offering all loans and overdrafts. It reserves the unrestricted right to decline to provide any loan or overdraft without incurring any liability or penalty. In cases where applicable law allows, the bank will make an effort to furnish its rationale for such refusals.
  • Without obtaining prior written consent from the Bank, a customer is prohibited from seeking or obtaining any loans, advances, or overdrafts from their employer, any other bank, or financial institution within the UAE.
  • The bank has the authority to assign an identification number to the customer and/or an account number to the customer's account. It is important to note that these identification numbers are the property of the bank; as such, the bank reserves the right to modify or alter them at any given time.
  • The funds from any personal loan will be disbursed to the account indicated in the corresponding request or offer letter. It is required that the specified account is the one where the customer's salary is regularly deposited.
  • If the funds from a personal loan are intended to be utilised for repaying a personal loan borrowed from another bank or financial institution, the customer is required to promptly furnish the bank with a letter from the institution. This letter should confirm, to the satisfaction of the bank, that the existing personal loan has been completely repaid subsequent to the disbursement of all or a portion of the personal loan obtained from the bank.

For detailed information, refer to the official website of the bank.

Frequently Asked Questions

Q1. What is the loan repayment tenure for personal loans for expatriates at FAB?

Ans: The maximum repayment tenure for the FAB personal loan for expats is 48 months.

Q2. What is the applicable interest rate on the non-salary transfer personal loan for UAE nationals?

Ans: The interest rate for this personal loan starts at 10.49% per annum (fixed rate). However, it’s important to note that interest rates are subject to variations as per the bank’s policies, the profile of the applicant, and more.

Q3. Is it necessary to provide both a salary certificate and bank statements to process a personal loan application at FAB?

Ans: Yes, you are required to submit both documents for your FAB personal loan application.

Q4. Is there any loan cancellation fee linked to the FAB personal loan?

Ans: Yes, the bank charges a fee of AED 105 for FAB personal loan cancellation.

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