FAB Personal Loans for UAE Nationals

FAB personal loan is amongst the various products and services offered by the FAB. Both expats and UAE Nationals can avail this personal loan. Using this loan, the UAE Nationals can enjoy flexible repayments, high loan amount up to AED 5 million, competitive interest rates starting from 3.99% (reducing), quick approvals, and more.

Features & Benefits of FAB Personal Loans for UAE Nationals

Following are the features & benefits of this FAB personal loan for UAE Nationals 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

 

Interest Rates

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

Maximum Loan Amount

The bank offers attractive amounts of loan up to AED 5 million to the applicant.

Repayment Terms

The borrowers can enjoy a tenor of 48 months (or a maximum of 60 months for Ministry of Defense Employees) and flexible terms for making repayment on this FAB personal loan.

Quick Approvals

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

Minimum Documentation

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

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 UAE Nationals

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 UAE Nationals

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. Can I cancel my FAB personal loan?

Ans: Yes, you will have to pay a cancellation fee of AED 105.

Q.2. Can I reschedule my loan?

Ans: Yes, you will be charged a fee of AED 262.5 for loan rescheduling.

Q.3. Do I have to pay any relationship fee on this FAB personal loan in UAE?

Ans: No, there is no relationship fee charged.

Q.4. Can I opt for early settlement?

Ans: Yes, You’ll be charged 1.05% of the balance remaining (10,500 AED maximum) for early settlement through the same bank loans, other bank loans, and other sources.

Q.5. Do I have to pay any fee on late payment of instalment?

Ans: Yes, you’ll will be charged 2.10% of the amount delayed (minimum 525 AED and maximum 210 AED).

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