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Reviewed ByRavindra DhakarProduct Manager
Ravindra Dhakar
Product Manager
With 4+ years of experience in banking and financial services, Ravindra Dhakar serves as a Product Manager at Paisabazaar.ae, specialising in banking and finance products. He is adept at developing customer-centric financial solutions, optimising product strategies, and driving innovation across lending, payments, and consumer banking to enhance financial accessibility and user experience.
FAB personal loan is amongst the various products and services offered by the FAB. Both expats and UAE Nationals can avail this personal loan. Using this loan, the UAE Nationals can enjoy flexible repayments, high loan amount up to AED 5 million, competitive interest rates starting from 3.99% (reducing), quick approvals, and more.
Interest Rate on FAB Personal Loans for UAE Nationals
The FAB personal loans are available at low interest rates of 3.99% (variable) and 4.99% (fixed) and the base rate is 7.25% p.a.
Features & Benefits of FAB Personal Loans for UAE Nationals
Following are the features & benefits of this FAB personal loan for UAE Nationals in the UAE.
Feature
Availability
Early Settlement
Yes, at a charge of 1.05% of remaining balance or AED 10,500 whichever is lower
Salary Transfer
Not Mandatory
Flat Interest Rate
4.99%
Reducing Interest Rate
3.99%
Flexible Repayment Tenure
Yes
Free Insurance Coverage
Yes
Quick Approvals
Yes
Interest Rates
The personal loan interest rate for FAB can be as low as 3.99 percent (reducing).
Maximum Loan Amount
The bank offers attractive amounts of loan up to AED 5 million to the applicant.
Repayment Terms
The borrowers can enjoy a tenor of 48 months (or a maximum of 60 months for Ministry of Defense Employees) and flexible terms for making repayment on this FAB personal loan.
Minimum and easy documentation makes the application process easier for the applicants.
Comprehensive Personal Life Insurance
The bank offers insurance coverage to the borrowers in the form of comprehensive personal life insurance.
Eligibility & Documents Required for FAB Personal Loans for UAE Nationals
Eligibility Criteria
Category
Details
Age Criteria
21 years or above
Minimum Income
AED 7,000
Employment
Employment with government, semi-government or reputed private organization
Documents Required
Category
Details
ID/Address Proof
Valid Visa, Passport, Emirates ID (original as well as copies)
Bank Statements
3 months statements showing credit of salary (when salary isn’t credited to FAB account)
Salary Proof
Salary certificate or transfer letter addressed to FAB account
Other Documents
Clearance or Liability Letter (for Buyout Loans)
Duly filled application form along with the customer’s signature
FAQs
Q.1. Can I cancel my FAB personal loan?
Ans: Yes, you will have to pay a cancellation fee of AED 105.
Q.2. Can I reschedule my loan?
Ans: Yes, you will be charged a fee of AED 262.5 for loan rescheduling.
Q.3. Do I have to pay any relationship fee on this FAB personal loan in UAE?
Ans: No, there is no relationship fee charged.
Q.4. Can I opt for early settlement?
Ans: Yes, You’ll be charged 1.05% of the balance remaining (10,500 AED maximum) for early settlement through the same bank loans, other bank loans, and other sources.
Q.5. Do I have to pay any fee on late payment of instalment?
Ans: Yes, you’ll will be charged 2.10% of the amount delayed (minimum 525 AED and maximum 210 AED).
82 genuine reviews and ratings across our services.
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Check & compare FAB personal loan for UAE nationals interest rate, benefits, eligibility, minimum salary, maximum loan amount & documents required.
Much better than bank sitesCompared to individual bank websites, this one is much more user-friendly. I liked how I could browse and explore all the UAE personal loans and their rates and even approx instalments — everything out there on my screen!
One and only one placeAfter searching practically all the market for insurance, I can confidently say paisabazaar.ae is the best and the most unique. I am very in awe of how literally all the best plans are on their website. What I liked even more is that these insurance policies are at very low prices. Truly I have found only one place with this combo of plans and low costs.
Good for my choiceI thought my salary won’t bring me any loans. But with Paisabazaar.ae I easily got a personal loan for 5000 salary. A few clicks is all it took.
No pressure, just optionsWhat I absolutely liked about the platform was how I could compare personal loans without being pushed to make an immediate decision. It does feel good knowing that I am the control of the decision, of course with big help from the team.
Support that actually helpsAs a newbie in finance, I had many doubts. The support team was truly helpful and responded in detail with patience. It was a big difference for me as for the first time I could apply for personal loans with zero doubts.
Saved me a lot of timeWith Paisabazaar.ae, I found everything in one place without getting confused between so many sites.
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