Personal Loans

Be mindful of the following

• Interest rates for UAE Nationals – Starting from 4.70% to 13.99%.
• Interest rates for Expatriates – Starting from 5.44% to 13.99%.
• The applicable interest rate depends on various factors such as income, employment status, type of loan, credit score, and an affordability assessment conducted by the bank. The interest rate may differ from the advertised representative rate. Customers can choose between a fixed or variable rate based on their preference.
• The interest rates mentioned apply only to customers who are employed with FAB’s approved list of employers.
• Illustrative example: If the loan amount is AED 250,000 at a fixed interest rate of 3.99% for a tenor of 48 months and opt for a first instalment grace period of 90 days, the indicative Equated Monthly Instalment (EMI) will be AED 5,681.46. The total interest payable on the loan will be AED 22,710.08. The total interest may be higher if you opt for an instalment deferment or miss any payments which may extend the duration of your loan, or increase your final repayment instalments.
• Minimum loan tenor is 6 months, and the maximum is 48 months. (60 months for UAE Nationals employed with Ministry of Defense).
• Processing fees for FAB Personal Loan is 1.05% of the principal loan amount (one-time payment) subject to a minimum of AED 525 and maximum of AED 2,625 (inclusive of VAT).
• Life insurance premium starts from 0.0169% of the monthly loan outstanding and is due monthly on the loan instalment due date, starting from the month of loan disbursal, irrespective of month when the first loan instalment is due and will be charged for the entire month, regardless of loan disbursal date. Life insurance monthly premium amount remains due even in case of deferral of the payment of monthly loan instalments. Failure to pay the monthly life insurance premium will impact your credit history with FAB and Al Etihad Credit Bureau.
• The Customer shall submit to the Bank all documents that the Bank may require and must inform the Bank of any change in the information provided at the time of making an initial request.