FAB Personal Loan

FAB personal loans in the UAE are popular for their generous loan amounts and low-interest charges.

Furthermore, interested customers may conveniently apply for FAB personal loans through an online form, which requires minimal documentation. The FAB personal loans in the UAE are offered with one of the lowest variable interest rates starting from 3.99% p.a. (reducing rate) and 4.99% (fixed rate) across its two categories - FAB personal loans for expats and FAB personal loans for UAE Nationals.

FAB Personal loan

FAB Personal Loan Interest Rate

Consider the following table for the applicable FAB personal loan interest rates for UAE nationals and for expats:

FAB Personal Loan
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.

FAB Personal Loan Features & Benefits

The First Abu Dhabi Bank 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

4.99%

Reducing Interest Rate

3.99%

Flexible Repayment Tenure

Yes

Free Insurance Coverage

Yes

Quick Approvals

Yes

 

Loan Amounts

The maximum loan amount to be offered for Emiratis is capped at AED 2 million. FAB personal loans for expatriates, on the other hand, offer a maximum loan of AED 5 million.

Tenor

The borrowers are offered up to 48 months (or a maximum of 60 months for Ministry of Defence employees) loan tenor to repay the borrowed amount. The tenor is determined on the mutual agreement between the borrower and the bank.

Easy to Apply

The applicants can apply for personal loans via the online form available at First Abu Dhabi Bank official website. Also, with the help of FAB Personal loan Calculator, one can check FAB personal loan interest and loans EMI to easy repayments.

Free Life Insurance

The borrowers can avail of a complimentary and comprehensive life insurance cover with the First Abu Dhabi Bank personal loan. This includes coverage for the remaining loan amount in the event of the sudden death of the borrower.  

Documentation

The applicants for the loan can enjoy an easy application process and minimum documentation in order to avail the FAB personal loan.

FAB Personal Loan Eligibility Criteria

The First Abu Dhabi Bank personal loan eligibility is slightly different for UAE nationals and expats. The eligibility parameters mentioned below apply to both the categories.

Age

To apply for a FAB Personal loan for UAE nationals and expat applicants are required to be a minimum 21 years of age to avail of a First Abu Dhabi Bank personal loan at low interest rate in the UAE.

Employment

Applicants of the First Abu Dhabi Bank personal loan are required to have employment at a government, semi-government or a reputed private institution. This will be confirmed by taking employer details and salary slips from the applicant.

Income

In order to avail a personal loan from FAB, applicants are required to have a minimum monthly salary of AED 7,000. This is the same for UAE nationals and expats alike.

In addition to these First Abu Dhabi Bank personal loan requirements, expats are also required to have a valid UAE residence visa.

Documents Required for FAB Personal Loan

The documents needed to apply for First Abu Dhabi Bank personal loan are as follows:

  • The loan application form, which can be found on the official website of FAB Bank. One can also visit the branch offices of FAB across the nation.
  • UAE Nationals are required to submit their Emirates ID and passport, while expat applicants are required to submit their residence visa in addition to the listed.
  • Non-salary transfer applicants are required to submit the latest three months of their bank statement. Additionally, FAB personal loans in the UAE may also require applicants to make at least one salary transfer and submit the respective salary transfer letter.

 FAQs

Q.1. What are the best personal loans offered by FAB?

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.

Q.2. What is a salary transfer certificate?

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.

Q.3. Do I have to maintain a minimum balance in my FAB account?

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.

Q.4. Can I calculate my FAB personal loan EMI on my own?

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.

Q.5. What is a variable interest rate?

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.

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