| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
FAB Personal Debt Consolidation Loan for UAE Nationals
|
Minimum Salary: AED 10,000 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 12 Years | Flat Rate: 3.31% | Reducing Rate: 6.0% |
Consolidate all your outstanding loans into one single loan with FAB
If you are a UAE national and are looking to reduce your monthly payments to have one single payment, or regain control of finances, our Debt Consolidation Loan can help.
Features
- Flexible repayment terms of up to 144 months
- Variable and competitive interest rates available
- Exclusively for UAE Nationals with a debt burden higher than 50% of your monthly salary
- Terms and Conditions Apply
Documents Required
- Liability Letter
- Salary Transfer Letter
- Bank Statement (6 months)
- Completed and signed branch application form
- Copy of valid Passport / Visa / Emirates ID (Originals must also be presented)
** 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
