FAB Personal Loans for Expats

Overview

FAB or First Abu Dhabi Bank works towards investing in people & technology for creating the most user-friendly banking experience. FAB personal loan is amongst the various products and services offered by FAB. Both expats and UAE Nationals can avail this personal loan. With this loan, the expats can enjoy high loan amount, flexible repayments, quick approvals, competitive interest rates, and more.

Features & Benefits of FAB Personal Loans for Expats

Following are the features & benefits of this FAB personal loan for expats in the UAE.

Maximum Loan Amount

The bank offers attractive amounts of loan up to 2 million AED to the applicant.

Interest Rates

The personal loan interest rate for FAB can be as low as 3.99 percent (variable).

Repayment Terms

The borrower can enjoy tenure of 48 months and flexible terms for making repayment on this personal loan.

Minimum Documentation

Minimum and easy documentation makes the application process easier for the applicant.

Quick Approvals

The applicant can get a fast track approval when they apply FAB personal loan, hence speeding up the process.

Comprehensive Personal Life Insurance

The bank offers insurance coverage to the borrower in the form of comprehensive personal life insurance.

Eligibility & Documents Required for FAB Personal Loans for Expats

Eligibility Criteria

Category

Details

Age Criteria

21 years or above

Minimum Income

7,000 AED

Employment

Employment with government, semi-government or reputed private organization

Documents Required

Category

Details

ID/Address Proof

Valid Visa, Passport, Emirates ID (original as well as copies)

Bank Statements

3 months statements showing credit of salary (when salary isn’t credited to ?)

Salary Proof

Salary certificate or transfer letter addressed to ?

Other Documents

Clearance or Liability Letter (for Buyout Loans)

Duly filled application form along with the customer’s signature

Interest Rate on FAB Personal Loans for Expats

The FAB personal loans are available at low interest rates of 3.99 percent (variable) and 4.99 percent (fixed) and the base rate being 6.75 percent p.a.

Frequently Asked Questions

Q.1. What is the maximum loan tenor for FAB personal loan for expats?

Ans: The maximum loan tenor is 48 months.

Q.2. What is the maximum loan amount available on this FAB personal loan in UAE?

Ans: The applicant can borrow up to two million AED (for expats).

Q.3. Can I apply for the loan if I am below 21 years of age?

Ans: No. Only those who are 21 years old or above can apply for the loan.

Q.4. What all ID proofs do I need to have as an expat?

Ans: You need to have a valid passport (copy) & resident Visa for UAE.

Q.5. In which account are the proceeds of this FAB personal loan paid?

Ans: The proceeds shall be paid in the account in which the salary of the borrower is transferred.