FAB
Non Salary Transfer Personal Loans for Expats

Personal Loan Rates as low as 14.99% (fixed) per year. Expatriates living in the UAE can apply for a personal loan from FAB without a need for a salary transfer. Loan can be availed up to AED 600000 at competitive interest rates and repayment periods up to 48 months.

Product Overview
Personal Loans in UAE are offered to customers for a variety of reasons including education, travel, medical and many more.  There are two types of personal loans, one which requires a salary transfer and one which doesn’t. Loans are offered for a minimum period of 6 to a maximum of 48 months expats and 60 months for UAE Nationals. Most of the banks assign Loan APR (Annual Percentage Rate) based on the profile of the customer and his/her employer. A few banks use bureau score to assign interest rates. UAE loan APR rates range between from 5% to 35% in general.

Illustration:
If a customer borrows a loan of AED 70,000 and earns an income of AED 7,000. With a repayment period of 48 months, the EMI would be AED 1612 at an effective interest rate of 4.99% per annum. Total repayment that would have been paid at the completion of the loan would be AED 77,363. Please use Soulwallet’s Loans EMI Calculator for further simulations.