FAB Non Salary Transfer Personal Loan for Expats

Personal Loan up to 8 times your Salary

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, also referred to as FAB, is one of the largest banking institutions in the UAE. With this bank, both individuals and businesses can have access to a wide range of services including personal banking, corporate banking, investment banking, and more.

As far as personal loans are concerned, FAB has several excellent products in its array. This includes the Non-Salary Transfer Personal Loan for Expats, which allows expatriates to get access to financial assistance while still in the country. This loan provides access to credit at competitive interest rates, allowing expatriates to cover essential expenses while they remain in the UAE.

In the article below, we will provide an overview of the loan, its features, its eligibility criteria, and more.

Features and Benefits of FAB Non Salary Transfer Personal Loan for Expatriates

The FAB Non Salary Transfer Personal Loan for Expats is specially designed to help expats have enough funds for planning major life events or changes like higher education, marriage, international trips, and more.

Here are some key features and benefits of this FAB personal loan in the UAE -

  • Maximum Loan Amount - up to AED 600,000
  • Flexible Loan Repayment Tenure - 48 months
  • Competitive Interest Rates - Flat Rate: 8.30% per annum (p.a.); Reducing Rate: 14.99% p.a.
  • No salary transfer is required to the FAB account - you can repay the monthly instalments from the existing salary account with another bank.
  • Complimentary comprehensive life insurance coverage
  • This FAB personal loan is available for individuals working for companies not mentioned in FAB’s approved list.
  • Minimum Monthly Income Required - AED 15,000

Besides the conventional FAB personal loan, a Shariah-compliant variant is available for this personal loan in the UAE as well. Given below are the features of FAB Islamic Non-Salary Transfer Personal Finance for expats:

  • Maximum Finance Amount - up to AED 600,000
  • Reasonable Profit Rates - Beginning from 8.70% per annum (p.a.) (identical to the reducing balance rate of 15.49% p.a.)
  • Comprehensive Takaful coverage included
  • No salary transfer to the FAB account is required
  • Minimum Monthly Income Requirement - AED 15,000
  • Flexible Finance Repayment Tenure - 48 months
  • Deferment Period Available before Paying the First Instalment - 60 days

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Interest Rate Applicable to FAB Non Salary Transfer Personal Loan for Expats

Tabled below are the interest rates applicable to FAB Non Salary Transfer Personal Loan for Expats -

Type of Interest Calculation Rate
Flat Rate 8.39% p.a.
Reducing Rate 14.99% p.a.

The following are the profit rates applicable to FAB Islamic Non-Salary Transfer Personal Finance for Expats -

Profit Rate Rate
Flat Rate 8.70% p.a.
Reducing Rate 15.49% p.a.

Fee and Charges Levied on FAB Personal Loan

Check out the table below for the fees applied to FAB Non Salary Transfer Personal Loan for Expats -

Charges Amount
Processing Charges 1.05% of the total loan amount (Minimum Amount - AED 525; Maximum Amount - AED 2,625)
Life Insurance Charges
  • If charged upfront - 1% to 1.5% of the Loan Amount Approved
  • If charged monthly - 0.0168% to 0.0171% per month on the remaining loan amount or on the balance agreed in the personal loan contract
Late Instalment Payment Fees 2.10% of the amount delayed (Minimum Amount - AED 52.5; Maximum Amount - AED 210)
Loan Cancellation Charges AED 105
Early Settlement Charges for the Same Bank Loans  1.05% of the outstanding balance (Maximum of AED 10,500)
Early Settlement from Secondary Income Sources (own sources/end of service benefits) 1.05% of the outstanding balance (Maximum of AED 10,500)
Processing Fee for Top-up Loans 1.05% of the total loan amount (Minimum Amount - AED 525; Maximum Amount - AED 2,625)
Deferment of Instalment Charges AED 105 per deferment
Loan Rescheduling Fee AED 262.5
Relationship Fee Free
Early Settlement Fee from other Bank Loans 1.05% of the outstanding balance (Maximum of AED 10,500)

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Have a look at the table below to find the fees and charges applicable to FAB Islamic Non Salary Transfer Personal Finance for Expats -

Charges Amount
Processing Fee 1.05% of the total finance amount (Minimum Amount - AED 525; Maximum Amount - AED 2,625)
Life Takaful Contribution Amount 
  • Upfront Charges - 1.05% to 1.575% of the purchasing price
  • Monthly Charges - 0.0169% per month on the remaining balance
Relationship Fee Free
Early Settlement from Other Bank’s Finance  1.05% of the outstanding balance (maximum of up to AED 10,500) according to the rebate reduction; should not exceed the outstanding profit
Early Settlement from Secondary Income Sources (own sources/end of service benefits) 1.05% of the outstanding balance (maximum of up to AED 10,500) according to the rebate reduction - should not exceed the outstanding profit
Processing Fee (Top-up Finance) 1.05% of the total finance amount (Minimum Amount - AED 525; Maximum Amount - AED 2,625)
Deferment of Instalment Charges Free
Early Settlement Charges from the same Bank finance 1.05% of the outstanding balance (maximum of up to AED 10,500) according to the rebate reduction; should not exceed the outstanding profit

Documents Required to Apply for FAB Non Salary Transfer Personal Loan for Expats

To apply for the FAB Non Salary Transfer Personal Loan for Expats, you would be required to present the following documents -

  • A completed loan application form
  • A copy of Emirates ID
  • A copy of valid passport and UAE residence visa
  • Recent bank statements of the last 6 months highlighting salary credits 
  • A salary certificate directed to First Abu Dhabi Bank

In case you are applying for FAB Islamic Non Salary Transfer Personal Finance for Expats, the following documents would be required -

  • A Murabahah request form
  • A copy and original of Emirates ID
  • Valid passport and UAE residence visa (original and copy) 
  • A salary certificate in the name of First Abu Dhabi Bank
  • Bank statements for the last 6 months showing salary credit

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Eligibility Criteria to Apply for FAB Personal Loan

Here are the eligibility criteria to apply for FAB Non Salary Transfer Personal Loan for Expats -

  • Minimum Monthly Income Required - AED 15,000
  • Employment Status - at least 18 months of service with the existing employer
  • Minimum Age - 21 years
  • An acceptable AECB credit score (subject to the Bank’s guidelines)

The following are the eligibility criteria to apply for FAB Islamic Non Salary Transfer Personal Finance for Expats -

  • Minimum Monthly Income Required - AED 15,000
  • Employment Status - at least 18 months of service with the existing employer
  • Minimum Age - 21 years
  • An acceptable AECB credit score (subject to the Bank’s guidelines)

FAB Personal Loan Calculator

FAB personal loan calculator is an online tool that helps you estimate the monthly instalment that you need to repay along with the applicable interest. When computing your monthly instalment using the FAB personal loan calculator, you would have to provide it with the following details -

  • Your monthly income
  • The loan amount
  • Repayment tenure (in months)
  • Interest rate applicable

You will receive an indicative amortisation table for your reference that can make it easy for you to plan your budget and navigate your finances accordingly. It is, however, important to note that the calculator offers only an approximation of the amount that you would need to pay as an instalment.

Discussed below are the terms and conditions associated with FAB Non Salary Transfer Personal Loan for Expats -

  • The account stated in the appropriate application or offer letter should be the account in which your pay is sent and shall receive the profits of any Personal Loan.
  • A letter from the other financial institution or bank verifying that the current personal loan has been paid in full must be provided to the bank immediately after borrowing all or a portion of a personal loan if the profits earned are to be used to pay back a personal loan/finance from another financial institution or bank (in a form and content that the Bank finds acceptable).
  • When you secure a FAB personal loan, you -
    • Pay the appropriate instalment on each loan payment date to repay a loan. The Bank may, upon your request, consent to the balance of the loan being adjusted from time to time. However, you may not re-borrow any portion of the loan that is returned. Any such application shall be governed by the Bank's current rules and procedures.
    • On each loan amount due date, pay interest that has accumulated on any loan amount.
    • On the loan date of maturity, pay off the remaining loan balance, accumulated and unpaid interest/profit, and any other obligations owed in relation to that loan.
  • Unless otherwise stated or accepted by the bank, interest will accumulate on any loan amount at the rates outlined in the pertinent request or offer letter and will be computed using the actual number of days that pass during an Interest Tenure and a calendar year of 365 days.

How to Apply for FAB Non Salary Transfer Personal Loan for Expats?

With policybazaar.ae, you can easily apply for a FAB non-salary transfer loan for expats and FAB Islamic non-salary transfer personal finance for expatriates in the UAE. We offer you a user-friendly third-party aggregator portal that can help you find the top personal banking solutions for you.

Tap on the personal finance page on our website to apply for a personal loan in the UAE with Policybazaar.ae. This will direct you to the lead details page, where you will be asked for information like your salary and country of citizenship. You may access the quotations page after completing the form.

You can look through and contrast the characteristics of the FAB Non-Salary Transfer Personal Loan for Expatriates and FAB Non-Salary Transfer Personal Finance for Expatriates. After finishing, start the application process by clicking the apply tab.

When you get personal loan in the UAE through Policybazaar UAE, you get -

  • 24/7 customer care support
  • Complimentary assistance from the leading financial experts
  • Banking from the convenience of home or workplace
  • Option to compare personal loan products from the leading financial institutions and lending institutions in the UAE

FAQ's

Q1. What is the minimum monthly income required to apply for FAB non-salary transfer personal loan for expats?

Ans: You should have a minimum monthly salary of AED 15,000 to be eligible for this FAB personal loan.

Q2. Can you settle your FAB personal loan in advance?

Ans: You can settle your FAB personal loan in advance but would need to pay an early settlement fee that is 1.05% of the remaining balance or up to AED 10,500.

Q3. How can you use your FAB personal loan in the UAE?

Ans: A personal loan can be obtained without collateral or a guarantor as it is an unsecured loan. You may obtain a personal loan to cover a variety of personal financial demands, including debt reduction, wedding expenses, higher education, travel abroad, and overseas trips.

Q4. Is insurance covered under FAB personal loan in the UAE?

Ans: With the FAB non-salary transfer personal loan for expats, you get comprehensive life insurance coverage.

Q5. What is the interest rate for FAB non-salary transfer personal loans for ex-pats?

Abs: The reducing rate for FAB non-salary transfer personal loans for expats is 14.99% per annum (p.a.)., while the flat rate is 8.39% p.a.

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