FAB Home Loan Calculator

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FAB Mortgage & Home Loan Calculator

First Abu Dhabi Bank (FAB) is one of the leading financial institutions across the world. As the largest bank in the UAE, FAB offers a plethora of banking services to the residents of the country. From loans to opening bank accounts, the bank ensures to provide adequate support to individuals to manage their finances efficiently. Among its loan segment, individuals can avail of personal, car, and mortgage loans.

At times, obtaining a mortgage loan in the UAE can be challenging. Loan seekers often get confused regarding the amount they must opt for, the loan tenure, and more. Failing to pay off the loan amount within the set timeframe can eventually lead to debt.

To help individuals navigate past such hurdles, FAB home loan has designed an online calculator that allows users to get an estimation of their monthly instalment amount. In this article, we have discussed the FAB home loan calculator and all the relevant details associated with it.

What is the FAB Home Loan Calculator?

First Abu Dhabi Bank has an online tool that allows potential home loan seekers to calculate their monthly instalments before applying for a loan. This mortgage loan calculator functions automatically once a user enters the required values.

Those planning to get their mortgage loan from FAB can simply find the calculator on the official website of the bank and access it for free.

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What are the Features and Benefits of the FAB Home Loan Calculator?

Let’s have a look at the primary advantages of the FAB mortgage loan calculator -

  • Effective Financial Planning - The primary aim of a home loan calculator is to help potential borrowers assess the loan monthly instalments, without hampering their regular expenses. Obtaining debts without planning can lead to financial mismanagement and affect you and your family. By using the calculator before availing of a loan, however, you can decide the amount that you can borrow and the tenure in which you can repay it.
  • Quick Calculations - The FAB mortgage calculator makes sure that you get the results instantly. As soon as you enter the required details into the calculator, the final result is displayed within seconds. This saves you a lot of time and helps you make your decision quickly.
  • Eliminates Manual Calculations - The FAB home loan calculator has been designed in such a way that you don’t have to do calculations manually. Online mortgage loan EMI calculators generate the final value automatically upon providing the necessary details. The value generated represents an approximate value due to variation in the loan interest rate. However, this tool certainly eliminates calculation errors, which are more likely to occur in the case of manual calculation.
  • Accessible 24*7 - You can utilise the FAB loan calculator at any time from anywhere. As it is available on the bank’s website and operational to all, you can fetch your loan monthly instalment amount as you deem fit.
  • Easy Comparison of Home Loan Offers - Using the FAB home loan calculator significantly helps you in selecting the ideal home loan. By calculating monthly instalments for different bank home loans, you can find the best deal that suits your financial requirements.
  • No Need to Provide Personal Details - There are no security issues associated with using the FAB mortgage loan calculator. This is because the bank does not require you to disclose any of your personal details before you start your calculations.  
  • Allows Regeneration of Numerical Values - One of the added benefits of online home loan calculators is that you can regenerate the values as many times as you want. This way, you can do permutations and combinations till you get your desired results.

How Does a FAB Home Loan Calculator Function?

Here’s how you can access the FAB online home loan calculator -

  • Visit the official website of FAB.
  • Click on the ‘Mortgage’ drop-down menu.
  • Choose the ‘Mortgage Calculator’ option.
  • On the next page, enter the property price, down payment amount, loan amount, tenure, and other required details.
  • You will instantly obtain your result at the bottom of the calculator.

Note: In case you face any issues in assessing your loan monthly instalments, get in touch with the bank authorities by dialling 600525500.

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Factors Affecting the FAB Home Loan Instalments

Multiple aspects influence the monthly instalments of FAB mortgage loans, such as interest rates, loan down payments, and more.

Let’s cover the primary factors in more detail here -

Loan Amount

The loan amount plays a vital role in determining the monthly home loan instalments. A higher loan amount leads to larger monthly payments, as the borrower must repay more principal and interest.

On the contrary, a lower loan amount results in smaller, more manageable monthly instalments, making property finance more affordable.

Note that lenders determine the borrower's ability to repay based on their income and creditworthiness, which also influences the loan amount that they can secure.

Loan Interest Rates

Loan interest rates significantly impact monthly home loan instalments. A higher interest rate increases the cost of borrowing, resulting in larger monthly payments. In this case, borrowers may initially pay more towards interest and less towards the principal, extending the loan duration.

Lower interest rates reduce the overall cost of the loan and lead to smaller and more affordable monthly instalments.

Tenure of the Home Loan

The tenure of the home loan has a direct influence on monthly instalments. A longer tenure decreases the monthly payment but increases the overall interest paid over the life of the loan. On the other hand, a shorter tenure results in higher monthly instalments but reduced interest costs.

As a borrower, you must choose a tenure that aligns with your financial capabilities and long-term goals as it determines the duration of your debt and the monthly financial commitment.

Key Takeaways

The FAB home loan calculator is an invaluable tool for those seeking financial clarity and precision in their property investment decisions. The calculator offers a user-friendly interface that simplifies complex calculations, enabling prospective buyers to determine their affordability, monthly repayments, and loan terms with ease. The tool not only helps enhance financial literacy but also allows borrowers to make informed choices.

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