National Bank of Fujairah Personal Loan

Overview

Headquartered in Fujairah, the National Bank of Fujairah (NBF) offers various banking services such as retail banking, corporate banking, and commercial banking. Established in 1982, the bank has become one of the fastest growing banks in the UAE. It has ATMs and branches across the UAE, mainly in Abu Dhabi, Dubai, Fujairah, Ajman, and Sharjah. It offers competitive financial services to the customers. In addition to that, it plays a pro-active role in community development.

Personal Loans are amongst the various services offered by the National Bank of Fujairah. The NBF Personal Loan offers funding for the dreams and hopes of the applicant. With flexible terms of payment and competitive rates of interest, these personal loans help them in fulfilling their ambitions. These loans can be availed by both expats and the UAE Nationals for their education, holidays, furnishing the house, and much more.

Features and Benefits of NBF Personal Loan

Listed below are the features and benefits of the National Bank of Fujairah Personal Loan.

Interest Rates

The NBF personal loan charges competitive rates of interest, making it easier for the applicant to repay the loan.

Flexible Repayment

The borrower can make flexible and convenient repayments of their personal loan in monthly installments.

Salary Multiples

With the benefit of high salary multiples, the applicant can apply for a personal loan up to twenty times their salary. 

Loan Tenor

The NBF personal loan provides the borrower a maximum loan tenor of 48 months.

Easy Application

The applicant can easily apply for this loan by visiting the nearest branch of NBF, through phone banking, or by using NBF Direct.

Eligibility & Documents Required for NBF Personal Loan

Eligibility Criteria

Category Details
Age Criteria 21 years (minimum)60 years (the maximum age for expats)65 years (the maximum age for UAE Nationals)
Minimum Income 5,000 AED per month
Residence Applicant should be living in the UAE


Note
- The applicant needs to provide valid proof that they are earning a salary to be eligible for the National Bank of Fujairah Personal Loan.

Documents Required

Category Details
ID/Address Proof Copy of the valid passport and Visa for UAE Residence (for expats)
Bank Statements 6 months’ statements (original)
Salary Proof Salary certificate (not more than thirty days old)
Other Documents Duly filled application form


Interest Rates on NBF Personal Loan

The offered NBF Personal Loan Interest Rate starts from 5.25 percent per annum (reducing balance).

NBF Personal Loan Frequently Asked Questions

Q1- Do I have an option of changing the tenor of my loan?

Ans: Yes. You can extend or reduce the tenor of your loan according to the existing guidelines of the NBF personal loan.

Q2- Do I need to transfer my salary to my NBF account on a monthly basis for qualifying for a personal loan?

Ans: Yes. In order 5o qualify for the personal loan, you have to transfer your salary to your NBF account every month.

Q3- How long does it take for a personal loan application to process?

Ans: The loan application usually gets processed within 6 working days.

Q4- After receiving the approval, how will I get the loan amount?

Ans: Once approved, your loan amount will be transferred to your NBF account.

Q5- What should be the duration of my employment with my current employer to be eligible for a personal loan with NBF?

Ans: The bank needs a confirmation that you have worked with your current organization for at least 6 months to be eligible for an NBF personal loan.

Q6- What is the loan repayment method?

Ans: When the applicant applies for a personal loan, they will have to provide the bank with a standing order deduction for deducting their monthly installment from their NBF account.

Q7- What is the maximum age for the maturity of my loan?

Ans: For expatriates, the age should not be more than 60 years at the time of loan maturity. For UAE nationals, the age should not exceed 65 years at the time of loan maturity.

Q8- What is the maximum tenor for NBF Personal Loan?

Ans: The maximum loan tenor is up to 4 years.

Q9- Do I need to be a UAE resident to avail personal loan?

Ans: Yes. In order to be eligible to apply for this loan, you must be living in the UAE.

Q.10. What would be my monthly installments?

Ans: Throughout the duration of your loan, your monthly installments are fixed (they would not change every month). The loan officer will guide you regarding your installment amount before processing your application for the personal loan.