First Abu Dhabi Bank (FAB) Car Loan in UAE

Among the diverse offerings, the car loan facility is one of the top choices. It also offers attractive interest rates, flexible tenure, and minimal documentation, FAB makes car ownership hassle-free. But, before applying for an FAB auto loan, there are many important factors that you must know, such as features, eligibility, and more.

Understanding FAB Car Loan in the UAE

First Abu Dhabi Bank (FAB) offers car loans in the UAE for new and used vehicles offering finance amounts up to AED 1.5 million or 80% of the car's value.

The bank offers a car loan facility for both salaried and self-employed individuals. It requires a low salary with hassle-free documentation.

Furthermore, if you are stressed about the FAB car loan interest rate, then just sit back and enjoy your coffee— it offers the lowest interest rates in the UAE. Not only that, it gives you the flexibility to repay your loan amount.

Key Features and Benefits of FAB Auto Loan

We have mentioned some of the key features and benefits of FAB car loans below:

• Low and competitive interest rates, starting from 2.15%
• High car finance amount, up to AED 1.5 million or 80% of the car’s value
• Easy loan application process and quick approvals
• A longer grace period of up to 90 days before the first installment
• Comprehensive car loan options are available
• Finance options are available for new and pre-owned cars

FAB Bank Car Loan Types in the UAE

Tabled below are the main types of car loans available at the FAB Bank in the UAE:

FAB Auto Loan Types	Specifications
Car Loans for Salaried Individuals	For new and pre-owned cars Car loans up to AED 1.5 million Lowest interest rates, starting just at 2.15% 90-day grace period
Car Loans for Self-Employed Individuals	Car finance up to AED 1.5 million Competitive interest rate, starting from 3.44% Car loan for new and used cars Minimum document requirements
Green Car Loan	Convenient loan options for eco-friendly electric cars Available for new and pre-owned cars Low salary requirement  Competitive interest rate, starting from 2.30%

Eligibility Criteria to Apply for FAB Auto Loan

To apply for a car loan at the FAB Bank, you need to meet the following eligibility criteria:

Eligibility Criteria	Requirements
Employment Status	Salaried and Self-Employed
Minimum Salary/Monthly Average Balance	AED 7,000 for salaried applicants AED 25,000 for self-employed
Nationality	UAE nationals and expats

✍️Note: The eligibility criteria may vary depending on the type of FAB Bank car loan you choose.

Necessary Documents Required for FAB Bank Car Loan

Here is a list of basic documents you may need while applying for an FAB car loan in the UAE:

✔️Valid passport 

✔️Emirates ID 

✔️Resident Visa

✔️Quotation of car 

✔️UAE driving license

✔️Bank statements 

✔️Salary certificate addressed to FAB

✍️Note: You may need to submit additional documents, if requested by the bank.

FAB Car Loan Calculator

Knowing how much you'll need to pay back on your car loan will help you plan and manage your money more effectively. The FAB auto loan calculator is an effective tool that allows you to calculate the future EMIs of the loan. However, the result typically depends on the car value, interest rate, and down payment.

With the help of this calculator, you can obtain several benefits, such as:

• Better financial planning: Helps you in making informed decisions
• Time-saving: Automatic calculations reduces the effort that manual calculation takes
• Ensuring accuracy: Provides an accurate estimate of monthly repayments

You may also read: Car Loan Calculator UAE

How to Apply for FAB Car Loan?  

Whether buying a car is your necessity or just want it for luxury, Paisabazaar.ae can help you in all the possible ways. By following the steps mentioned below, you can easily apply for a FAB car loan:

• Head to the homepage of Paisabazaar.ae and click on the ‘Car Loans’ section
• Fill out the lead form by putting in all the required details 
• You will get a quotes page on your screen
• Explore and compare car loan options by top providers in the UAE 
• Select the best one that accomplishes all your requirements
• Click “Apply” to proceed

It’s done! Our team will get back to you soon and guide you further.

Frequently Asked Questions