FAB Bank Personal Loan in UAE - Check Minimum Salary, Eligibility & Interest Rate

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.

Table of Content

Types of FAB Personal Loans in the UAE
General Features and Benefits of FAB Personal Loan
What are the Eligibility Criteria for FAB Personal Loan in the UAE?
Documents Required for FAB Personal Loans in the UAE
FAB Personal Loan: Fees and Charges
FAB Personal Loan Calculator
FAB Personal Loan: Terms and Conditions
Frequently Asked Questions

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.	Apply Now
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.	Apply Now
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.	Apply Now

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.

Apply Now

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.

Apply Now

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.

Apply Now

*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.	Apply Now
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.	Apply Now
New to Country Loans/ New to Employment Loans	You must have a monthly salary of at least AED 10,000.	Apply Now

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.

Apply Now

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.

Apply Now

New to Country Loans/ New to Employment Loans

You must have a monthly salary of at least AED 10,000.

Apply Now

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

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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