|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|FAB - Personal Loans for Expats||Minimum Salary: AED 7,000||Salary Transfer: Yes||Islamic Finance: No||Maximum Term: 4 Years||Flat Rate: 2.64%||Reducing Rate: 4.99%|
Get high loan amounts at low interest rates for your next personal venture.
- 90 day grace period until first repayment
- Most competitive rate in the market
- Loans of up to AED 2 million
- Flexible repayment terms
- Minimum documentation
- Fast-track approvals
- Comprehensive personal life insurance coverage
- Copy of a valid passport/resident visa/Emirates ID (originals must also be presented)
- Bank statements for the last three months showing salary credits (if salary is not credited to a FAB account)
- Salary transfer letter/salary certificate addressed to FAB
- Liability letter or a clearance letter (in case of buyout loans)
- Application completed and signed by the customer
- Employed at a government, semi -government or a reputable private organization
- Applicant must be 21 years of age or above
- Minimum salary AED 7,000
** 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.