Sometimes in life, we become overwhelmed by financial challenges that leave us feeling worried, tense, and helpless. The challenges can include paying education fees, covering medical expenses, consolidating debt, and even planning a wedding at times. However, the problem is how to arrange urgent funds in such emergencies so that we can have peace of mind.
That’s exactly where First Abu Dhabi Bank’s Personal Loans—offered by the UAE’s most trusted bank, the FAB, come forward to provide you with the much-needed relief. They are specially curated for UAE nationals as well as expatriates to access instant funds. Exciting benefits, such as flexible repayment terms, competitive rates, quick approval, free insurance, and more, also accompany that!
Continue reading this comprehensive, step-by-step, and latest guide to learn about FAB Personal Loans’ eligibility criteria, required documents, interest rates, fees & charges, application process, and more.
What are FAB Personal Loans?
FAB personal loans, offered by First Abu Dhabi Bank, are an instant funds borrowing service to meet your personal emergency needs, such as paying rent, home improvement, planning a wedding, etc.
You can borrow money as a loan and repay within a maximum period of 48 months (and for UAE nationals who are working under the Ministry of Defense, it is 60 months ). That too with no hidden charges, low interest rates, and instant approval.
Surprisingly, you can apply for it whether you live in the UAE or are an expat, with an interest starting from 4.70% up to 13.99% for UAE nationals and 5.44% to 13.99% for expatriates.
(The rates mentioned above apply only when your company is included in the approved companies list of FAB Bank.)
Key Features and Benefits oF FAB Personal Loans
Here we have the list of benefits offered by FAB Personal Loans:
- Get the maximum loan amount.
- Flexible and easy repayment terms.
- Apply for a loan with minimal documentation
- Quick and easy approval.
- Low interest rates.
- Both fixed and variable interest rate options are available.
- Get Life premium insurance, which starts from 0.0169% of your remaining loan each month ( which is also known as the monthly loan outstanding).
- Longer period for loan paying—6 to up to 48 months (60 months for the employees who work at the Ministry of Defence).
- Available for both UAE nationals and expatriates.
- Minimal loan processing fee—sometimes free as well.
- Save your money with Pre-payment or early settlement options.
- Avail the opportunity of paying zero processing fee and getting up to 1.5 kg of gold (if you choose FAB Personal loan under the multi-product package).
Types of FAB Personal Loans
Here are the tailored-to-need types of personal loans offered by First Abu Dhabi Bank:
- FAB Personal Loan
- Non-listed Company Personal Loan
- New to Country Loans / New to Employment Loans
- Landlord Loans
FAB Personal Loan
The Personal Loan is designed for individuals such as UAE nationals and expats, who are in search of quick, flexible, and unsecured finance. And it gives you a chance to win up to 1.5 kg of gold if you choose it under the multi-product package.
Furthermore, here’s the summary table of FAB Personal Loan’s benefits for UAE Nationals and expats:
| Feature | For UAE Nationals | For Expats |
| Interest Rate with Multi-Product package (with salary transfer + FAB credit card) | From 4.70% per year (fixed) | From 5.44% per year (fixed) |
| Interest Rate (with salary transfer only, no Holding of FAB credit card) | From 6.20% per year (variable) | From 7.20% per year (variable) |
| Gold Draw Offer | Chance to win up to 1.5 kg of gold (3 winners) | Chance to win up to 1.5 kg of gold (3 winners) |
| Processing Fees | No fee | No fee |
| Maximum Loan Amount | AED 5 Million | AED 2 Million |
| Maximum Grace Period | 7 months | 4 months |
Non-listed Company Personal Loan
This loan service is created for those employees who are doing a job in those companies that are not on the FAB’s approved list. This is how the bank is offering a solution to those who are struggling to get a loan because even if their company is not on the list.
In summary, these are the benefits offered by the Non-listed Company Loan:
| Feature | For UAE Nationals | For Expats |
| Interest Rate | 8.99% per year (fixed) | 11.99% per year (fixed) |
| Processing Fees | 1.05% of the loan amount (Min: AED 525, Max: AED 2,625 — VAT included) | 1.05% of the loan amount (Min: AED 525, Max: AED 2,625 — VAT included) |
| Maximum Loan Amount | AED 500,000 | AED 500,000 |
| Time Period | 48 months (up to 60 months for folks who work at the Ministry of Defence) | 48 months |
New to Country Loans / New to Employment Loans/
This loan is for expats who are new to the country or have recently gotten a job. They will enjoy benefits such as:
- Flexible rates—from 12.75% per year at a fixed rate.
- Get a loan up to AED 600,000.
- Fast approval
- Easy documentation
- Personal life insurance and more!
Landlord Loan (Rental Income Loan)
FAB Landlord loan enables landlords to get a loan against their rental income. This way, they don’t need to sell their property and still get access to a large fund.
Their rental income acts as collateral. And every month, up to the specified time period (which is 48 months), FAB keeps deducting the monthly loan installment (EMI) from rental income.
In a nutshell, these are the perks of the Landlord Loan:
- Get access to a maximum loan amount of AED 2 million.
- Avail an Attractive starting interest rate of Base + 2% per year (variable rate).
- Pay your loan amount within an extensive period of up to 48 months.
FAB Personal Loans Eligibility Criteria
FAB Personal Loan
Here is the eligibility criteria of the personal loan for the applicant:
- The applicant must qualify for the minimum monthly salary criterion, which is AED 7000.
- The employee must be working at a government, semi-government, or recognized private organization.
- Their age must be 21+years old.
- They must have done at least 6 months of job service. Or they can bring something to confirm their employment status with the current organization.
Non-listed Company Personal Loan
- The applicant must fulfill the minimum monthly salary criterion, which is AED 10,000.
- The applicant must meet the required credit Bureau score.
- They must have done at least 6 months of job service with their current organization.
- Their age must be 21+ years.
New to Country Loans / New to Employment Loans/
- The applicant must meet the minimum monthly salary requirement, which is AED 10,000.
- Applicant’s salary must be transferred to a FAB account.
Landlord Loans
- It is only applicable to the United Arab Emirates residents.
- UAE Nationals must send their salary to a FAB account.
- Rental income must be directly sent to the FAB account.
FAB Personal Loans Variable Interest Rates Criteria
FAB Personal Loan
- The applicant’s company must be on the FAB’s approved list.
- They must qualify for a required minimum salary of AED 7,000.
- The interest rate can vary–FAB bank decides after reviewing different factors such as income, credit bureau score, and approval rules.
- This loan is a variable interest rate, which can change based on the PBR (Personal Loan Base Rate).
- The interest rates mentioned in this loan will be applied to the outstanding loan balance.
Landlord Loans
- If your property is mortgaged with another bank, then the interest rate will be Base rate + 3%.
- If your property is not mortgaged with another bank, then the interest rate will be Base rate + 2%.
FAB Personal Loan Document Requirements
| Document Requirement | Personal Loan | Non-Listed Company Loan | New to Country / Employment Loan | Landlord Loan |
| Loan application form | Yes | Yes | Yes | Yes |
| Passport copy & Original | Yes | Yes | Yes | Yes |
| Emirates ID copy & Original | Yes | Yes | Yes | Yes |
| Resident visa copy & Original | Yes | Yes | Yes | Yes |
| Salary transfer letter / Certificate | Yes | Yes | Yes | Yes |
| Employment / Offer letter | No | No | Yes | No |
| Proof of rental income (Ejari/tenancy contract, cheques, rental statement) | No | No | No | Yes |
| Rental income assignment agreement | No | No | No | Yes |
| Bank statements (3–6 months) | Yes | Yes | No | No |
| Employer verification documents (if required) | Yes | Yes | Yes | Yes |
How to Apply For FAB Personal Loans? Step by Step
The following are the steps to apply for personal loans:
- Choose your desired personal loan type—new to country, non-listed, or landlord loan.
- Fulfill the eligibility criteria.
- Complete the required documents.
- Open your selected personal loan webpage in your web browser.
- Look for the “Apply Now” button and click on it.
- Now, completely fill out the application form and submit it.
FAB Personal Loan- Interest Rates
The personal loans offer you 2 types of interest rates:
- Fixed Rate: During the whole loan repayment duration, the amount of interest rate will remain fixed
- Variable Rate: In a variable rate, the interest is subject to change. Therefore, there is no fixed amount.
FAB Personal Loan- Fees & Charges
Here we have the fees or charges of different FAB Personal Loans’ services:
| Fee Type | Details |
| Copy of Sales Slip | AED 26.25 |
| Processing Fee | 1.05% of the loan amount (Min: AED 525, Max: AED 2,625) |
| Processing Fee (Top-Up Loans) | 1.05% of the top-up amount (Min: AED 525, Max: AED 2,625) |
| Life Insurance Fee | – Upfront: 1% – 1.5% of the approved loan amount- Monthly: 0.0169% – 0.0171% of outstanding balance (or as per loan contract) |
| Installment Deferral Fee | AED 105 per deferral |
| Installment Late Payment Fee | 2.10% of the delayed amount(Min: AED 52.50, Max: AED 210) |
| Loan Rescheduling Fee | AED 262.50 |
| Loan Cancellation Fee | AED 105 |
| Relationship Fee | Free |
| Early Settlement (Same Bank Loans) | 1.05% of the remaining balance(Max: AED 10,500) |
| Early Settlement (Other Banks’ Loans) | 1.05% of the remaining balance (Max: AED 10,500) |
| Early Settlement (Own sources / End of Service Benefits) | 1.05% of the remaining balance (Max: AED 10,500) |
Additionally, here are some of the key points to keep in mind:
- All of the above rates already include VAT(Value Added Tax).
- These are subject to change by First Abu Dhabi Bank.
- It is mandatory to have insurance on all personal loans. However, how it’s charged is up to the loan agreement. Therefore, it could be monthly or upfront.
FAB Bank Personal Loan Calculator
FAB Personal Loan Calculator is an online tool provided by First Abu Dhabi Bank that helps customers in their planning and decision-making. It helps them to estimate their monthly loan installment, interest rate, and total repayment amount before even applying for a personal loan.
How does it work? Simple. You type in key details such as your monthly salary, your loan amount—the amount you want as loan, loan pay-it-back period—the timeframe within you have to pay, and the interest rate.
In response, it gives you the following output:
- Your EMI (monthly installment or repayment).
- Total Interest Payable.
- Total Repayment Amount.
In short, it helps you plan your budget and compare various loan amounts and durations before applying.
FAB Personal Loan—Terms and Conditions
The following are the terms and conditions of FAB Bank:
- The decision to offer you a loan or overdraft is up to the bank. Even if you meet the eligibility criteria, the bank can decide not to offer you the loan or overdraft.
- The bank can accept or reject your request. Sometimes it can also provide a reason for rejection, but it’s not obligatory.
- You must first have written approval from the bank to be able to take loans, overdrafts, or advances from the bank or from your employer in the United Arab Emirates.
- All of the required documents must be present, and they must meet the bank’s standards.
Key Reminder: For the latest T&Cs, make sure you visit the official bank FAB website.
Some Warnings and Tips To Keep In Mind
Here we have some of the warnings and tips that you should always consider:
- If you pay your loan early, then banks may charge you some penalties.
- You will go into arrears if you don’t pay your repayment on time, which can further leave a bad effect on your credit rating.
- If you try to replace your old loan with a new FAB loan, your repayment tenure will increase, and you may end up paying more interest as compared with the old one.
- Always follow the personal loans’ terms and conditions; otherwise, they have the right to sue you and enforce their right on the collateral you provided to them.
FAB Personal Loan Customer Care Helpline Numbers
In case of any issue or problem regarding personal loans, reach out to FAB customer support using the numbers below:
- If you’re in the UAE: 600 52 5500
- If you’re outside of the UAE: +971 2 681 1511
Conclusion:
In summary, FAB Personal Loans are always there to help you if you need instant funds. You can apply for them whether you are a UAE National, an expat, or new to the country. They offer you competitive interest rates, flexible repayment terms.
Just select your loan type, compare it with others, finalize your decision, meet their eligibility criteria and document the requirements, and then apply for the loan. You can also use the FAB Personal Loan Calculator to make the process easy for you.
And if you have a query or question, feel free to contact the FAB customer care team.
FAQs: Frequently Asked Questions
Do FAB Personal loans have a minimum salary requirement?
Yes. The personal loans do have a minimum salary requirement, and it depends on the type of loan you’re applying for. But in general, it is between AED 7,000 and AED 10,000.
How much maximum loan amount does FAB Bank allow its customers to borrow?
FAB allows borrowing up to AED 2 million to expats and AED 5 million to UAE residents.
How much is the fixed interest rate on a FAB bank personal loan?
For UAE nationals, it’s starting from 4.70% and for expats, it’s starting at 5.44%.
How much loan duration does FAB offer on Personal Loans?
FAB offers a loan tenure maximum of 48 months. But for UAE individuals who are employed at the Ministry of Defence, the duration is up to 60 months.
If I want to apply for a Personal loan, do I have to transfer my salary to FAB?
Yes. Generally, you must transfer your salary to FAB to obtain personal loans.
How much does FAB Bank take to approve my loan?
Generally, FAB takes 24 hours to process your loan request. And they will also call you within 24 hours.
Do FAB offer loans for folks who are new to the UAE or new to employment?
Yes. FAB offers new-to-employment/new-to-country loans for these individuals.
How much maximum time is offered to expats to repay their personal loans?
A maximum of 48 months’ time duration is offered to expats to repay their loans.
Am I eligible for a personal loan if my age is under 21?
No. Your age must be at least 21 years to be eligible to apply for personal loans.
Which identification documents are required for expats to apply for a FAB personal loan?
As an expat, you must have these documents:
- Your Valid Passport, both copies and the original.
- Resident Visa
What are the types of Car loans offered by FAB Bank?
The following are he card loans offered by First Abu Dhabi Bank:
- Etihad Guest Car Loan
- Car loans for those individuals who are self-employed
- Car loans for those individuals who are salaried.