FAB Home Loans for Non UAE Residents

Best Home Loans to buy your dream home

T&C Apply

  • Flexible repayment periods up to 25 years
  • Processing fees as low as 1%
  • Profit rates starting at 2.75% per year

Compare and get the best loan

Cancel
Cancel
By Clicking on "View Quotes", I declare that I am a resident of UAE and holding a valid Emirates ID and agree to the website Privacy Policy and Terms of Use. I hereby give consent to Policybazaar.ae to share my details with the UAE registered banks.

First Abu Dhabi Bank, also known as the FAB, was established in 2007 and is headquartered in the emirate of Abu Dhabi. It has swiftly progressed to become one of the most trusted banks in not only the UAE but several other countries around the world.

Key Takeaways

  • You can take a FAB mortgage loan in the UAE for non-UAE residents as long as your country of residence is included in the FAB’s acceptance list. 
  • The maximum loan amount and tenure available for this FAB mortgage loan in the UAE are AED 10 million and 5 years, respectively.
  • Both fixed and variable rates of interest are available for the borrowers’ choice. A combination of these rates with EIBOR or MBR is also available. 
  • Salary/income proof and proof of funds in the form of bank statements are required when you send in your FAB home loan application. 
  • You can use this loan amount to buy properties for residential as well as investment purposes in the UAE. 
  • In-principle approval fee has been exempted for these FAB mortgage loans. However, all other generic fees and charges still apply. 
  • The processing fee is not applicable if you use FAB home loans for non-UAE residents for buyout purposes. 
  • You can sign up for your FAB mortgage loans in the UAE for non-UAE residents via policybazaar.ae or via the bank’s website. 

FAB offers a multitude of commercial and retail financial services and products including credit cards, accounts, and loans. FAB home loans for non-UAE residents are among the several customer-centric products offered by FAB. These FAB home loans in the UAE are designed for individuals who reside in other countries and wish to purchase property in the UAE. 

FAB Home Loans for Non-UAE Residents

  • Minimum Salary AED 15,000
  • Flat Rate NA
  • Reducing Rate 3.26%
  • Down Payment 20%
  • No Salary Transfer

Features of FAB Home Loans for Non-UAE Residents

  • Home Loans for Non-Residents: This special type of home loan is designed to facilitate the process of purchasing property for non-residents of the UAE. The loan amount can be used to purchase buildings for both residential and investment purposes. However, the key aspect to remember here is that the loan is only available to people who are residents or citizens of one of the countries on FAB’s list for mortgage loans for non-residents. 
  • High Loan Amount: FAB home loans for non-UAE residents offer up to AED 10 million as the sanctioned loan amount, with the amount available to finance up to 50% of the value of your property. 
  • Loan Tenure: The maximum available loan tenure for FAB home loans in the UAE for non-UAE residents is 5 years. With such considerable tenure, users can design the repayment schedule to fit their overall financial planning. 
  • Competitive Interest Rates: First Abu Dhabi Bank offers highly competitive interest rates in both fixed and variable formats. You can easily score a low interest rate to buy your new property in the UAE, with flat rates for FAB home loans for non-UAE residents beginning from 3.25%. The partial term fixed rates can also be opted for starting from 2.5% for two years. 
  • Half Property Value Financing: FAB home loans for non-UAE residents cover up to 50% of the value of your property. The rest 50% is to be covered as the down payment by the borrower. 
  • Flexible Loan Option: The FAB home loans for non-UAE residents are available to both salaried and self-employed individuals with sufficient funds and flexible terms to meet the loan eligibility requirements. 
  • Zero In-Principle Approval Fee: You can now check your eligibility to get home loans for non-UAE residents for free with FAB. Unlike other types of loans, the in-principle approval fee is not applicable to FAB home loans for non-UAE residents. Thus, you can simply contact the bank, get a free in-principle approval, and apply for your loan with a small processing fee. 
  • Buyout Loans: FAB home loans for non-UAE residents can also be used as buyout loan options to transfer your current debt to FAB. This way, you can consolidate all your debt and pay it off with a simpler repayment schedule in one place. To top it all off, buyout FAB home loans are exempt from processing fees to help you avoid paying any additional charges. 

Eligibility Criteria of FAB Home Loans for Non-UAE Residents

  • Nationality: Any non-UAE resident can apply for this category of FAB mortgage loan in the UAE. The only requirement here is that the country of residence of the applicant must be included in the list of acceptable countries for the loan. 
  • Age: Any eligible applicant older than 21 years of age can apply for FAB mortgage loans for non-UAE residents. 
  • Employment: Salaried employees, as well as self-employed individuals, can apply for this FAB home loan. Both types of applicants will be required to submit proof of funds with the application form.
  • Income: Minimum monthly income of AED 15,000 is required to take a FAB mortgage loan in the UAE for non-UAE residents, with this condition applying to both salaried and self-employed professionals. 

Interest Rates for FAB Home Loans for Non-UAE Residents

FAB Home Loans for non-UAE Residents 

Applicable Annual Rates

Two-year Fixed Rate 

2.5% 

Three-Year Fixed Rate 

3% 

Five-year Fixed Rate 

3.25% 

Documents Required for FAB Home Loans for Non-UAE Residents

  • A valid passport as an identity proof
  • Last 6 months’ worth of bank statements as proof of funds 
  • Tax returns if you are liable to pay taxes in your country of residence 
  • Credit reports and credit score from your country of residence
  • Salary certificates or payslips as proof of income for salaried individuals 
  • Audited financial statement, trade license, and business portfolio for self-employed individuals

How to Apply for FAB Home Loans for Non-UAE Residents?

You can apply for FAB home loans for non-UAE residents via both online and offline platforms. If you do not reside in the UAE, using offline platforms could prove challenging. Consequently, it is recommended to use an online platform in such situations to facilitate an easy application process. Nevertheless, if you are in the UAE for work or some other reason, you can also consider the offline method for application. 

The following is a detailed description of both the methods:

Via FAB Website

  • Open the browser on your phone/laptop/desktop and visit the official website of First Abu Dhabi Bank UAE. 
  • Go to the drop-down menu on the top and click on ‘mortgages’. A list will appear in front of you. 
  • Choose ‘Home Loan for Non-UAE Residents’ from this list and head to the dedicated page. 
  • Here, you will find all the important details about this mortgage loan listed.
  • Examine the details thoroughly and understand them before starting the application process. 
  • Find the ‘apply now’ button on this page and click on it to receive the application form. 
  • Fill out the form using your basic details, attach the documents requested by the bank, and submit the form. 
  • Pay the applicable processing fee and complete the application process. 
  • Once the FAB has approved the application, an executive will contact you and inform you about the same. 
  • You can take the loan disbursement procedure further from here with the home loan executive assigned to you by the bank. 

Via Policybazaar.ae

  • Open the official Policybazaar UAE website on your mobile/laptop/desktop and head to the home loan page. 
  • Locate the lead form on the home loan in UAE page and fill it with the required information.
  • You will be redirected to the quotes page for home loans once you submit this form.
  • Find FAB home loans for non-UAE residents from the list of quotes, compare their benefits with the other available plans, and move forward to fill out the application form. 
  • Click on the ‘apply now’ button to get redirected to the application form. Fill out the form and submit it after adding the necessary documents. 
  • Once you do so, you will be prompted to pay the processing fee. 
  • Complete the payment of the fee to conclude the application process. 
  • Your application will be sent directly to FAB on a real-time basis. The bank will examine the application and send you approval if everything is in place. 
  • You will be assigned a home loan executive with whom you can take the loan disbursement process further. 

Via FAB’s Branches in UAE

  • Locate a nearby First Abu Dhabi Bank branch and visit it to submit your FAB home loans for non-UAE residents application.
  • When you are at the branch, get an application form from the home loan department and fill it out with the necessary information. 
  • Attach all the required documents with the form in physical form. As a precaution, you should first find out which documents are required with a copy. 
  • Submit the application form with the processing fee and wait to hear back from the bank.
  • The bank will inform you about the acceptance or approval status of your application. 
  • If your application has been approved, you can proceed with the rest of the steps involved in the disbursal of the loan. 

Cashback Back & Free Airport Lounge Access - Policybazaar uae

Fees & Charges for FAB Home Loans for Non-UAE Residents

Types of Fee

Charges Applicable

Processing Fee

1.05% 

Minimum – AED 525 

Maximum – AED 2,625

Property Swaps Administration and Valuation Fee 

AED 1,386

Liability Letter Fee

AED 63

Change of Payment Due Date 

AED 26.25

Issuance of NOC 

AED 157.50

Late Payment or Missed Payment Fee

2.10% of the overdue instalment amount 

Minimum – AED 52.50 

Maximum – AED 210 

Property Insurance Fee

0.0525% of the property value or as per the loan agreement 

Loan Rescheduling Charges 

AED 3,150

Partial or Early Settlement Fee 

1.05% of the settled amount

Maximum amount – AED 10,500

Mortgage Life Insurance Fee 

0.0112% of the outstanding loan balance or as the loan agreement states

Instalment Deferment Fee 

AED 105

Clearance Letter Charges

AED 99.75

Why Should You Choose FAB Home Loans for Non-UAE Residents?

  • Makes Way for UAE Investments: FAB home loans for non-UAE residents are a great way to easily pave your way into the UAE investment sector. You can use this loan to buy properties for both investment and residential purposes. Buying a small or a big property using your savings can be potentially risky since you are left with little funds afterwards. However, FAB mortgage loans for non-UAE residents can help own a property in the UAE while keeping your savings safe. 
  • Easy Processing: FAB ensures that the processing of your FAB home loans for non-UAE residents is swift and efficient. The bank contacts you within a few hours of submitting your mortgage loan application to inform you about the acceptance or rejection of the application. Further formalities involved in the loan disbursement process are also completed swiftly to ensure that you get your loan amount at the earliest.
  • Free In-Principle Approvals: In-principle approval refers to a verbal approval that mortgage loan applicants are required to obtain from the banks. Taking in-principle approval increases your application getting accepted. FAB home loans for non-UAE residents in-principle approvals are offered for free unlike other types of FAB mortgage loans. 
  • High Sanctioned Loan Amount: FAB home loans for non-UAE residents are sanctioned with a maximum of AED 10 million as the loan amount. You can easily find a suitable property to purchase in the UAE with the backing of the high FAB home loan amount. 
  • Lower Interest Rates: FAB mortgage loans in the UAE for non-UAE residents are offered at rather low interest rates when compared to most other home loans for non-residents. You can opt for a combination of fixed and variable interest rates or go for completely flat interest rates. Flat rate interest starts from 2.5% and is available in three variants: 2-year fixed, 3-year fixed, and 5-year fixed rates. 
More From International Mortgages Loans
Recents ArticlesPopular Articles