| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
FAB - Buyout Loans
|
Minimum Salary: AED 7,000 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 2.09% | Reducing Rate: 3.99% |
Take control of your borrowings by moving your loan to FAB
If you are a UAE national or expat with a loan at another bank, take control of your borrowing and move to FAB.
With high loan amounts and attractive interest rates, you could access additional funds and reduce your monthly payments with our Buyout Loan.
Features
- Competitive interest rates
- High loan amounts of up to AED 5 million for UAE nationals and 2 million for Expatriates
- Flexible repayment terms of up to 48 months (60 months for Ministry of Defense employees)
- Terms and Conditions Apply
Documents Required
- Liability Letter
- Salary Transfer Letter / Salary certificate addressed to FAB
- Bank Statement (6 months)
- Copy of valid Passport / Visa / Emirates ID (Originals must also be presented)
- Application form duly filled & signed by customer
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
