Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
FAB - National Loans Scheme (NLS) FAB - National Loans Scheme (NLS) Minimum Salary: AED 7,000 Salary Transfer: Yes Islamic Finance: No Maximum Term: 0 Years Flat Rate: 2.09% Reducing Rate: 3.99%
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Developed by the Central Bank of the UAE
The National Loans Scheme (NLS) was developed by the Central Bank of the UAE, in consultation with UAE Banks Federation and national banks to reduce the debt burden of the UAE Nationals. The bank is committed to reduce the debt burden of UAE Nationals, who have loans originated prior to May 2011, and at present their installments exceed 50% of salary/income and their tenor is more than 48 months.

Bank would be contacting the eligible customers who meet the NLS eligibility criteria.
Features
  • Only for UAE Nationals
Eligibility
  • Origination date of the loan should be prior May 2011 & remaining loan tenor should be more than4 Years.
  • Debt Burden Ration (DBR) should be greater than 50% for regular customers and for Pensioners greater than 30%.
  • Customer’s consent to be taken for participation in the NLS scheme.
  • The customer undertakes not to seek any loans or credit facilities from any bank or finance company during the period of repayment of the NLS loan.
  • The customer agrees to cancel all credit cards issued by the bank and other banks and finance companies.
  • Interest rate/Profit rate to be reduced to 3M EIBOR.
  • Terms and Conditions Apply
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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.
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