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FAB Personal Loans for UAE Nationals

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. Using this loan, the UAE Nationals can enjoy flexible repayments, high loan amount, competitive interest rates, 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.

Interest Rates

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

Maximum Loan Amount

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

Repayment Terms

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

Quick Approvals

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

Minimum Documentation

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

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 UAE Nationals

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 UAE Nationals

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. 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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