FAB Personal Loan Eligibility in UAE

Personal Loan in UAE
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

First Abu Dhabi Bank (FAB), the largest bank in the UAE, was formed by the merger of the National Bank of Abu Dhabi and First Gulf Bank. FAB provides retail, corporate and investment banking, private banking and wealth management, asset management, Islamic banking, treasury and trade finance services to its customers. 

The bank offers a range of personal loan options ranging from short-term to long-term loans. All personal loans from FAB are provided at competitive interest rates and flexible repayment options. However, in order to be eligible for a FAB personal loan, it is mandatory to qualify for the criteria stated by the bank.

Top First Abu Dhabi Bank Personal Loans with Eligibility

Refer to the following table to know the FAB personal loan eligibility -

Personal Loan Products Eligibility Criteria
Non-Salary Transfer Personal Loans for UAE Nationals
  • The minimum monthly salary requirement is AED 15,000.
  • The age of the applicant must be 21 years or more.
  • A minimum of 18 months of service is required with the current employer.
  • An acceptable credit bureau score is required.
FAB Personal Loans for UAE Nationals
  • The applicant must have a minimum salary of AED 7,000.
  • The applicant must be at least 21 years old.
  • The applicant must have completed a minimum of 6 months of service or been confirmed in employment with their current employer.
  • The applicant must be employed in a reputable organisation - private, governmental, or semi-governmental. 
Eligibility Criteria to be met for 5.95% variable rate
  • The minimum salary requirement is AED 7,000.
  • The applicable rate may vary based on other aspects such as credit Score, income, and more.
  • The applicant must be working with a company approved by the bank with their salary transferred to a bank’s account.
Non-Salary Transfer Personal Loans for UAE Expatriates
  • The applicant must have a minimum monthly income of AED 15,000.
  • The minimum age requirement is 21 years old.
  • The applicant must have completed at least 18 months of service with their current employer.
  • The applicant must possess a good credit score as mentioned by the bank.
FAB Personal Loans for Expats
  • The applicant must be 21 years old or more.
  • The minimum monthly salary required is AED 7,000.
  • The applicant must have completed a minimum of 6 months of service or been confirmed in employment with their current employer.
  • The applicant must be employed with a recognised governmental, semi-governmental, or private organisation.
Eligibility criteria to be met for 6.95% variable rate
  • The minimum salary requirement is AED 7,000.
  • The applicable rate may vary based on other aspects such as credit score, income and other approval criteria.
  • The applicant must be working with a company approved by the bank with their salary transferred to a bank’s account.
FAB Etihad Guest Personal Loan Eligibility criteria for 7.95% variable rate
  • The minimum salary requirement is AED 7,000.
  • The applicable rate may vary based on other aspects such as credit score, income, and more.
  • The applicant must be working with a company approved by the bank with their salary transferred to a bank’s account.
FAB New to Country Loans/ New to Employment Loans NOT MENTIONED
FAB Landlord Loans Criteria as per the applicable variable rate
  • The loan can be availed by only UAE nationals who are banking with FAB and have mandated salary or pension credit to the FAB account.
  • Rate applicable is Base Rate + 2% if property is mortgage free
  • Rate applicable is Base Rate + 3% if property is under ‘other Bank’ Mortgage
  • A mandated assignment of rental income to the bank is required.
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General FAB Personal Loan Eligibility Criteria

The following are the common FAB personal loan eligibility criteria -

  1. Age - The minimum age requirement for all FAB personal loans is usually 21 years. On the other hand, the maximum age ranges between 60-65 years. 
  2. Nationality - In order to be eligible for a First Abu Dhabi Bank personal loan, you must either be a UAE national or expatriate. 
  3. Monthly Salary - Depending on the type of FAB personal loan you avail of, the monthly salary requirement may vary. Always check for the salary criteria with the bank before applying for a loan.
  4. Credit Score - The minimum credit score typically required for a personal loan to be approved in the UAE is 580. However, having a higher credit score may improve the chances of being approved for a loan. It is important to check with the institution to verify the credit score that they require for a personal loan. 
  5. Salary Transfer - The type of personal loan you choose will determine whether or not you need to transfer your salary. If you opt for a loan that requires salary transfer, you must transfer their salary to your FAB account each month. 

Document Required for FAB Personal Loan Eligibility

Here is the list of documents required for all the FAB personal loans in the UAE -  

Non-Salary Transfer Personal Loans for UAE Nationals

  • Original and a valid copy of Emirates ID
  • Original and a valid copy of passport
  • Salary certificate addressed to the bank
  • Completed and signed loan application
  • Previous 6 months’ bank statements showing salary credits (only if salary is not credited to a FAB account) 

Personal Loans for UAE Nationals

  • Emirates ID (original and a valid copy) 
  • Original and a valid copy of passport
  • Original resident visa along with a valid copy 
  • Signed and completed personal loan application
  • A liability or clearance letter (required only in case of buyout loans)
  • Salary transfer letter addressed to FAB
  • Previous 3 months’ bank statements showing salary credits (if salary is not credited to a FAB account) 

Non-Salary Transfer Personal Loans for UAE Expatriates

  • Original and a valid copy of Emirates ID
  • Passport (original and a valid copy)
  • Original and a valid copy of resident visa
  • Signed and completed loan application
  • A salary certificate addressed to the bank
  • Previous 6 months’ bank statements showing salary credits (if salary is not credited to a FAB account) 

Personal Loans for Expats

  • Emirates ID (original and a valid copy)
  • Original passport along with a valid copy 
  • Original and a valid copy of resident visa
  • Signed and completed personal loan application
  • A liability or clearance letter (required only in case of buyout loans)
  • Salary transfer letter addressed to FAB
  • Previous 3 months’ bank statements showing salary credits (if salary is not credited to a FAB account) 

Etihad Guest Personal Loan

  • Original and a valid copy of Emirates ID
  • Passport (original and a valid copy)
  • Resident visa (original and a valid copy)
  • Signed and completed personal loan application
  • A liability or clearance letter (required only in case of buyout loans)
  • Salary transfer letter addressed to FAB
  • Previous 3 months’ bank statements showing salary credits (if salary is not credited to a FAB account) 

New to Country Loans/ New to Employment Loans

  • Original and a valid copy of Emirates ID
  • Original passport along with a valid copy 
  • Original and a valid copy of resident visa
  • Signed and completed personal loan application
  • Salary transfer letter addressed to FAB 

Landlord Loans

  • Emirates ID (original and a valid copy)
  • Passport (original and a valid copy)
  • Original and a valid copy of resident visa
  • Signed and completed personal loan application
  • Assignment of rental income to FAB 
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Factors Affecting First Abu Dhabi Bank Personal Loan Eligibility

Discussed below are some factors that affect your FAB personal loan eligibility -

  • Age - In the UAE, the minimum age to obtain a FAB personal loan is 21 years (depending on the loan type), with the maximum age limit ranging from 60 to 65 years depending on the applicant's nationality. 
  • Employment Status - When it comes to eligibility for a personal loan, both your current and past employment status play an important role. If you have been steadily employed with a respected organisation for an extended period of time, you are more likely to be approved for a personal loan. However, if you have a history of frequently changing jobs, it could have a negative effect on your chances of being approved. 
  • Monthly Salary - Once you have applied for a FAB personal loan, the bank will assess your monthly salary to determine if you are able to make the necessary payments on time. In case you have a secondary source of income, the bank will take that into consideration as well. Furthermore, the financial institution will also check if your company is listed in FAB’s database, as this may increase your chances of getting their loan approved. 
  • Relationship with the Bank - If you have been prompt with the repayment of your existing loans from FAB, your eligibility for a personal loan in UAE will be strengthened. In this case, the financial institution is likely to offer you new loans at competitive interest rates.
  • Credit History and Credit Score - A person's credit score is one of the most important criteria that banks and financial institutions consider when deciding whether or not to approve a personal loan in UAE. As these loans are unsecured, you must be financially stable enough to pay back other loans, mortgages, and credit card debts, and credit score is a good indicator for this. If your credit score is lower than the bank's requirements, it may still be approved but at a higher interest rate. For this reason, it is necessary to maintain a good credit score to get approved for a personal loan.
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How to Improve Your Chances of Getting a FAB Personal Loan in UAE?

Here’s how you can improve your chances of getting FAB personal loan approval -  

1. Improve Credit Score:

It is always recommended to consistently work on enhancing your credit score, as possessing a high credit score shows that you are a responsible borrower and are capable of paying off timely loans. Thus, you must always pay your bills within the due date, make soft credit enquiries, reduce your loan/ credit card application numbers, and clear off all existing debts to increase your credit score effectively.  

2. Decrease the Debt-to-Income Ratio:

The debt-to-income ratio is defined as the ratio of your monthly debt payments to your gross monthly income. As per the guidelines of the Central Bank of UAE, your debt burden ratio should not be more than 50%, i.e., your monthly debt payments should not exceed 50% of your monthly salary. Make sure to keep your debt-to-income ratio as low as possible to increase the chances of your personal loan application approval.  

3. Include a Co-Borrower:

In case your monthly income does not match the criteria for a FAB personal loan, having a co-borrower can be of great help to you. When you include a co-borrower, your total monthly income for the bank’s consideration increases. This is because FAB considers your income and your co-borrower’s monthly salary altogether to determine your loan eligibility in such a case.  

4. Improve Your Source of Income:

As your monthly income is one of the important factors in assessing your FAB personal loan eligibility criteria, it is always a wise decision to increase your sources of income. The higher the income, the higher your chances of getting a loan application approved. Some of the additional income may include freelancing, investments, or even performance bonuses.  

5. Make Salary Transfer:

If required, you can transfer your monthly income to a FAB account. Making salary transfers increases your personal loan application approval chances, as the bank gets an assurance that you are capable of repaying the loan amount within the given period.  

6. Work for an Organisation Present in FAB’s List:

Most lending institutions instantly approve a personal loan if the applicant works with a company enlisted in the bank’s approved list. Hence, consider working with one of the organisations mentioned in First Abu Dhabi Bank’s approved list. 

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FAQ's

Q1. Is salary transfer required for FAB personal loans for UAE nationals?

Ans: As FAB offers two types of personal loans for UAE nationals - one with mandated salary transfer and another without salary transfer - you can get a personal loan with or without salary transfer as per your requirement.

Q2. How much amount does FAB offer in non-salary transfer personal loans for expatriates?

Ans: The bank offers a loan amount of up to AED 600,000.

Q3. Is there any FAB personal loan available for ex-pats who are new in the Emirates?

Ans: Yes, the bank has a separate personal loan for expatriates new in the country, which is ‘New to Country/ New to Employment Loans’.

Q4. Is a top-up plan available in FAB Etihad Guest personal loan in the UAE?

Ans: Yes, customers of the Etihad Guest personal loan can use the top-up option on their existing loans.

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