Irrespective of your level of financial planning, you may require financial assistance at an instance for various personal reasons. With several providers present in the country providing personal loan in UAE, one can now easily secure a personal loan to cover all their financial needs. With a personal loan in UAE, one can access quick solutions without any collateral for any purpose like a wedding, business expansion, children’s education, and more.
One can easily opt for an excellent plan for the same like the FAB Islamic Personal Finance, which can fulfil various requirements while following the Sharia laws of financing and loans.
Features & Benefits for FAB Islamic Personal Finance
The following are some of the most notable features as well as benefits of this FAB personal loan in UAE:
High Loan Amount Limits - UAE nationals are eligible for a maximum amount of AED 5 million with this FAB personal loan. For ex-pats, the maximum limit is AED 2 million.
Attractive Rate of Interest - Every loan applicant desires to get a loan at attractive low-interest rates. The same is fulfilled with FAB Islamic Personal Finance, which offers loans to UAE Nationals and expatriates at rates starting from 2.09% and 2.63%, respectively.
Convenient Repayment Tenure - Borrowers can repay this personal loan in UAE in a period of up to 48 months (60 months for personnel from the Defence Ministry). The repayment term is set by the loan applicant and the bank in a mutual agreement.
Free Life Insurance - With this First Abu Dhabi Bank personal loan in UAE, borrowers can receive an exhaustive life insurance policy. Thus, in the case of the borrower's untimely death, this policy will compensate for the left-over loan amount.
Easy Documentation Process - To obtain the FAB personal loan, applicants will need to go through a simple application process with minimal documentation requirements.
Salary Requirement for FAB Islamic Personal Finance
Here are the salary requirements set forth by the FAB bank for this personal loan in UAE.
Minimum Salary requirement
AED 7,000 per month
Interest rates for FAB Islamic Personal Finance
The following profit rates are applicable for this FAB personal loan:
Profit Rates for the FAB Islamic Personal Finance
For UAE Nationals: Starting from 2.09%
For Expats: Starting from 2.63%
Eligibility Criteria for FAB Islamic Personal Finance
For UAE locals and ex-pats, the First Abu Dhabi Bank personal loan conditions are slightly different. To find out more about the applicable criteria, check out the table below:
Minimum Age for Applying
21 years
Maximum Age for Applying
65 years for UAE nationals
60 years for others
Minimum Monthly Salary Requirement
AED 7,000
Employer Requirement
Working in a governmental, non-governmental, or a recognised private organisation
Documents Required When Applying for FAB Islamic Personal Finance
A copy of a valid passport, residence Visa, or Emirates ID (originals must be presented)
Bank statements for the last three months displaying salary credits (in case salary is not credited to a FAB account)
Salary transfer letter/certificate to FAB
A letter of liability or a letter of clearance (in case of buyout loans)
Signed and completed application.
How to Apply for FAB Islamic Personal Finance?
Given below are the steps to be followed to easily apply for a FAB Islamic Personal loan -
Step 1 - Visit the official website of the FAB bank.
Step 2 - Go to the personal loans section on the website. Here, you will find all the available FAB personal loan plans listed.
Step 3 - Check out the details of all the plans by simply tapping on the plans. Pick one of your choice after viewing all the available plans in the list.
Step 4 - Click on ‘Apply Now’ for the FAB personal loan plan of your choice to start the application process.
Step 5 - You will be required to provide a few basic details related to your nationality, employment, income, and more to complete the application process.
Step 6 - The bank will connect with you after receiving your application to assist you with your loan process.
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Minimum Salary 5000 AED
EMI Tenure up to 48 Months
Lowest Interest Rates
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