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First Abu Dhabi Bank Islamic Personal Finance

Minimum Salary

10,000 AED

Flat Rate

2.64 %

Reducing Rate

4.99%

Max. Term

4 Years

Salary Transfer

Yes

Islamic Finance

Yes

Description

FAB offers a range of Shariah-compliant personal finance solutions for customers to help them grow their wealth.

Major Advantage: High finance amount, Minimum documentation, Fast-track approvals

Features

Major Benefits:

  • Flexible repayment terms
  • Minimum documentation
  • Fast track approvals

 

Minimum Salary Requirement: AED 10,000

Reducing Rate (as advertised): From 4.99% p.a. (depends on profile of the customer)

Flat Rate: From 2.64% p.a. (calculated as per 4 years calculation)

Processing Fees: 1.05% of the finance amount (Min AED 525, Max AED 2,625)

Maximum Finance Amount: Up to AED 5 Million for UAE Nationals and Up to AED 2 Million for Expats

Islamic Finance: Yes

Maximum Term: 48 Months

Salary Transfer: Compulsory

Early Settlement Fees: 1.05% of outstanding amount (Max AED 10,500)

Takaful: 1.05% - 1.575% of the finance value

Salaried/Self Employed:  Only Salaried can apply

Documents Required
  • Salary transfer letter/Salary certificate addressed to FAB Bank.
  • Last 3 months salary bank statements showing salary credits.
  • Valid Passport, Visa and Emirates ID copy. (originals must also be presented)
  • Proof of current liabilities as required by Bank.
  • Liability letter or a clearance letter (in case of liability settlement).
  • Application completed and signed by the customer.
Additional Info
  • This offer may be withdrawn or amended at any time at the bank’s discretion. 2.64% is a flat profit rate equivalent to reducing rate of 4.99% per year. Limited period offer.
  • All finances are subject to income and eligibility criteria.
  • Eligibility criteria are subject to change from time-to-time.
  • Terms and conditions apply. 
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