Finance House Personal Loan Eligibility - Check out the Eligibility Criteria for Finance House Personal Loan in UAE like Minimum Salary, Age, Document Required, Nationality, Salary Transfer & More.
First Abu Dhabi Bank (FAB), one of the prominent banks in the UAE, offers excellent personal loans to UAE residents (including expatriates). These loans are offered at competitive interest rates and with high finance amounts & flexible repayment tenure. You can use these loans for a variety of purposes such as debt consolidation, travel expenses, higher education, marriages, and more. A notable feature of the FAB personal loan is that the borrowers can avail of complimentary life insurance with coverage equal to the remaining loan amount, which can be helpful for the family/beneficiaries in case the borrower passes away.read more
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Get personal loan at Lowest Interest Rate
FAB personal loan in the UAE are popular for their high loan amounts upto 2 million for expats and upto 5 million for UAE nationals and at low-interest rate.
Furthermore, interested customers may conveniently apply for FAB personal loan through an online form, which requires minimal documentation. The First Abu Dhabi Bank personal loan in the UAE are offered with one of the lowest variable interest rates starting from 3.99% p.a. (reducing rate) and 2.64% (fixed rate) across its two categories - FAB personal loans for expats and FAB personal loan for UAE Nationals.
Consider the following table for the applicable FAB personal loan interest rates for UAE nationals and for expats:
Category | Max. Loan Amount | Tenor | FAB Personal Loan Interest Rate | Type of Interest |
---|---|---|---|---|
FAB Personal Loan For UAE Nationals |
AED 5 Million |
Up to 48 months |
From 3.99% per annum |
Reducing |
FAB Personal Loan For Expats |
AED 2 Million |
Up to 48 months |
From 3.99% per annum |
Reducing |
Disclaimer: Interest Rates are subject to change any time.
The FAB personal loan is available in two variants, for UAE nationals, and for expats. The features and benefits of both have been detailed below.
Feature | Availability |
---|---|
Early Settlement |
Yes, at a charge of 1.05% of remaining balance or AED 10,500 whichever is lower |
Salary Transfer |
Not Mandatory |
Flat Interest Rate |
2.64% |
Reducing Interest Rate |
3.99% |
Flexible Repayment Tenure |
Yes |
Free Insurance Coverage |
Yes |
Quick Approvals |
Yes |
The First Abu Dhabi Bank personal loan requirements are slightly different for UAE nationals and expats. The eligibility parameters mentioned below apply to both the categories.
In addition to these First Abu Dhabi Bank personal loan requirements, expats are also required to have a valid UAE residence visa.
The documents required to apply for First Abu Dhabi Bank personal loan are as follows:
Ans: The personal loans offered by FAB are flexible and customized to the applicant’s requirements. Get in touch with FAB customer care executives or simply head over to the site for FAB personal loans online in the UAE to find a personal loan with a variable interest rate and flexible tenor.
Ans: A salary transfer certificate is the one that shows the applicant has transferred a month’s salary to the FAB account. The salary transfer certificate is issued by the employer in favor of the bank, FAB.
Ans: No, as an applicant you are not required to maintain any balance in the FAB account. The FAB account is created in order to receive the applicant’s salary transfer.
Ans: With the help of FAB personal loan calculator, you can calculate your loan EMI without a hassle. FAB personal loan calculator is an online tool that calculates your loan EMI and estimates an amount to be paid against a loan. This tool calculates the EMI based on certain factors such as loan amount, monthly salary of the applicant, loan tenure etc. By visiting the official website of First Abu Dhabi Bank, you can easily calculate FAB personal loan interest rate with this calculator.
Ans: Personal loan interest rate offered by FAB Bank is reducing or variable in nature. This form of interest is charged directly on the principal amount and as a result, decreases every time the borrower makes a payment.