Islamic Personal Finance
Min. salary
AED 10,000
Max. Amount
AED 5,000,000
Effective rate
4.99%
Islamic Personal Finance With flexible payment terms we put your needs first
Salary Transfer
Not Required
Minimum Tenure
12 months
Maximum Tenure
48 month
Early settlement
1.00%
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Features
- 90-day grace period until your first payment
- Finance amounts of up to AED 2 million
- Minimum documentation
- Fast-track approvals
- Comprehensive personal life Takaful coverage
For UAE Nationals
- Personal Finance profit rates starting from 2.64%* (equivalent to reducing rate of 4.99%*)
- Finance amounts up to AED 5 million
- First instalment grace period up to 120 days
For Expats
- Personal Finance profit rates starting from 2.64%* (equivalent to reducing rate of 4.99%*)
- Finance amounts up to AED 2 million
- First instalment grace period up to 90 days
Documents Required
- Copy of a valid passport/resident visa/Emirates ID (originals must also be presented)
- Bank statements for the last three months showing salary credits (if the salary is not credited to a FAB account)
- Salary transfer letter/salary certificate addressed to FAB
- Liability letter or a clearance letter (in case of liability settlement)
- Application completed and signed by the customer
Note: Additional documents may be required on a case-by-case basis
Eligibility
- Employed in a governmental, semi-governmental or reputable private organisation
- Applicant must be 21 years of age or above
- A minimum salary of AED 10,000