FAB
Personal Loan for Expats

1. A copy of a valid passport, visa and Emirates ID, and you must also present the originals
2. Present bank statements for the last six months showing salary credits (if your salary is not credited to a FAB account)
3. Prepare a salary certificate addressed to First Abu Dhabi Bank
4. Complete the application form

Eligibility

• You have a minimum monthly income of AED 7000
• Employed with a governmental, semi-governmental or legitimate private organisation
• You have completed a minimum of 6 months service with your current employer
• You have an acceptable Credit Bureau Score
• You are 21 years of age or older
• You are a UAE resident with a valid visa
• Criteria to be met for a variable rate: Working in a company approved by FAB with their salary transferred to a FAB bank account with a minimum monthly salary of AED 7,000

- Get high loan amounts of up to AED 2,000,000 with flexible payment terms of up to 48 months

- Enjoy best-in-class rates starting from
   - 5.44%* Fixed per year - with multi product package (with a salary transfer to your fab account and holding a credit card from fab)
   - 7.20%* Variable per year - With a salary transfer to your fab account without holding a credit card from fab

- A salary transfer to a FAB account is required

- Benefit from comprehensive life insurance coverage

- Grace period of up to 120 days before the first instalment

*All interest rates quoted are effective rates on the loan’s outstanding balance.
*Rates shown are minimum available and may vary depending on income, credit bureau score, and lender’s approval criteria.

A Flat interest rate is calculated on the entire loan amount throughout the loan tenure. In this case, the interest rate or lending rate is fixedf for the duration of the loan and will be calculated at the start of the loan.

Interest accrual on each installment= (Loan principal x Loan tenor x  interest rate per annum)/ total number of installments

A Reducing rate is calculated based on diminishing principal amount. Every month when you pay your EMI your principal reduces. Interest is calculated only on the reduced principal amount at the time of EMI Payment. 

Interest payable on each installment= Outstanding loan amount x interest rate applicable for each installment