FAB Personal Loans for Expats

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 of up to 2 million AED, flexible repayments, quick approvals, competitive interest rates starting from 3.99% (reducing), 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.

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

 

Maximum Loan Amount

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

Interest Rates

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

Repayment Terms

The borrowers can enjoy a tenor 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 applicants.

Quick Approvals

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

Comprehensive Personal Life Insurance

The bank offers insurance coverage to the borrowers 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

AED 7,000

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 FAB account)

Salary Proof

Salary certificate or transfer letter addressed to FAB account

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% (variable) and 4.99% (fixed) and the base rate being 7.25% p.a.

FAQs

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 applicants can borrow up to AED two million (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 accounts 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.

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