Buying a home is one of the most important investments you will make in your lifetime. To make this journey easier, First Abu Dhabi Bank (FAB) is here to help with various home loan options to fit different needs. FAB is a top bank in the UAE known for its broad range of banking services. FAB mortgage loans are flexible and come with competitive rates, making owning a home easier and more affordable. This guide will explain everything about FAB home loans, their features, benefits, and how to apply for an FAB home loan in UAE.
Let’s get started….
Features and Benefits of FAB Home Loan in UAE
Given below are the different types of FAB home loan in UAE that you can apply for according to your eligibility:
Home Loan for Residences and Investment in UAE:
Features:
- High loan amounts to AED 10 million, a tenure of 25 years and flexible payment terms.
- Fixed and variable rate options, less down payments, high loan amounts, low fees, salary transfer benefits, cashback offers, and up to 85% financing for first-time buyers.
- Get up to 10,000 AED as the maximum financial amount
- Fixed rates start from 3.94%, variable rates from 0.55% + 3 months EIBOR.
- Choose a complimentary FAB credit card if you don’t have one.
- Earn up to AED 12,500 cashback with the Multi Product Package offer.
- Flexible variable rates: 0.55% + 3 months EIBOR for the first year, 1.5% + 3 months EIBOR from the second year.
- Up to 85% financing for first-time buyers.
- No approval-in-principle fee.
- Up to AED 10,000 in FAB Rewards with salary transfer.
- Special deals on processing and valuation fees with major developers.
Eligibility:
- Salaried applicants need to have a minimum salary of AED 15,000.
- For self-employed individuals, the minimum required income is AED 25,000.
Required Documents:
Here’s a list of documents you’ll need to submit:
- Emirates ID and passport copy
- Proof of residence
- Salary certificate or business income proof
- Bank statements for the last six months
- Property documents
Note: You might need more documents if the bank requests them. The basic documents required for the FAB home loan application are given above.
FAB Home Loan Interest Rate:
Given below are the interest rates of home loans for residences and investments in the UAE:
| Fixed Rate Period | With Salary Transfer to a FAB Account* | Without Salary Transfer to a FAB Account** |
| One year | 3.94% | 4.34% |
| Two years | 3.94% | 4.34% |
| Three years | 4.09% | 4.39% |
| Five years | 4.19% | 4.44% |
How to apply?
- Visit this URL.
- Click on “Apply Now”.
- Please enter your first and last name, company name (optional), phone number, email address, Emirate, and monthly salary.
- Accept the terms and conditions.
- Click “Apply Now”.
- The respective authorities will get in touch with you, once they receive your application.
Home Loan for Non-Residents Looking For Investment Properties in UAE:
Features:
- High loan amounts to AED 10 million, a tenure of 25 years and flexible payment terms.
- Competitive variable rates linked to EIBOR or MBR.
- No approval in principal fees.
Eligibility:
- Non-UAE residents are looking to invest in UAE properties.
Required Documents:
Here’s a list of documents you’ll need to submit:
- Mortgage Application Form
- Income Proof
- Sale and Purchase Agreement
Note: You might need more documents if the bank requests them. The basic documents required for the FAB home loan application are given above.
How to apply?
- Visit this URL.
- Click on “Apply Now”.
- Please enter your first and last name, company name (optional), phone number, email address, Emirate, and monthly salary.
- Accept the terms and conditions.
- Click “Apply Now”.
- The respective authorities will get in touch with you, once they receive your application.
FAB Islamic Home Finance For UAE Residents:
Features:
- Fixed profit rates start from 3.94% per year.
- The initial variable rate starts at 0.55% per year plus 3 months EIBOR for the first year and 1.5% per year plus 3 months EIBOR from the second year onwards.
- Up to 85% financing for first-time buyers.
- Flexible payment options with high finance amounts.
- Earn up to AED 10,000 in FAB Islamic Rewards by transferring your salary to a FAB Islamic Savings Account and getting FAB Islamic Credit Cards (1 AED = 250 rewards points)
- Profit rates are fixed for up to five years.
- No approval-in-principle fee
- Discounts on processing and valuation fees with major developers.
Eligibility:
- UAE residents looking to finance a home through Shariah-compliant means.
- Salaried applicants need to have a minimum salary of AED 15,000.
- For self-employed individuals, the minimum required income is AED 25,000.
Required Documents:
Here’s a list of documents you’ll need to submit:
- Mortgage application form
- Proof of income
- Property documents
Note: You might need more documents if the bank requests them. The basic documents required for the FAB home loan application are given above.
FAB Islamic Home Loan Interest Rate:
Given below are the interest rates of FAB Islamic home loans for UAE Residents:
| Fixed Rate Period | With Salary Transfer to a FAB Islamic Savings Account and a credit card* | Without Salary Transfer to a FAB Islamic Savings Account** |
| One year | 3.94% | 4.34% |
| Two years | 3.94% | 4.34% |
| Three years | 4.09% | 4.39% |
| Five years | 4.19% | 4.44% |
How to apply?
- Visit this URL.
- Click on “Apply Now”.
- Please enter your first and last name, company name (optional), phone number, email address, Emirate, and monthly salary.
- Accept the terms and conditions.
- Click “Apply Now”.
- The respective authorities will get in touch with you, once they receive your application.
FAB Home Loan Requirements:
Here are some of the basic requirements which you need to keep in mind before applying for the FAB home loan:
Eligibility Criteria:
- Age: You have to be between 21 and 65 years old.
- Residency: Both UAE nationals and expatriates can apply.
- Employment: You need to be employed or have a stable income.
Income Requirements:
- Minimum Salary: You should earn at least AED 15,000 per month.
- Employment Duration: You should have worked with your current employer for at least 6 months. If you’re self-employed, your business should be running for at least 2 years.
Documentation:
- Identity Proof: A valid passport and Emirates ID.
- Residence Visa: For expats.
- Salary Certificate: From your employer or a trade license if self-employed.
- Bank Statements: You should show statements for the last 3 to 6 months.
- Proof of Address: A tenancy contract or a utility bill.
Credit History:
- Credit Score: You should have a reasonable credit score to qualify.
Property Requirements:
- Property Type: The property must be approved by FAB.
- Property Valuation: An independent valuation may be required.
Note: These are the basic and general requirements regarding loans; it’s better to check with the bank itself beforehand.
FAB Home Loan Contact Number:
You can reach out to FAB home loan customer service on the following numbers:
- For customers within the UAE: 600 52 5500
- For customers outside of the UAE: +971 2 681 1511
FAB Home Loan Calculator:
The FAB Home Loan Calculator is an online tool for calculating monthly mortgage payments and borrowing limits. It’s designed to help you plan your finances and make better decisions when applying for a home loan.
How to Use the FAB Home Loan Calculator?
- Enter Loan Details: Type in the amount you want to borrow.
- Choose Loan Term: Enter the number of years you want to repay the loan, usually between 5 and 25 years.
- Select Interest Rate: Enter the interest rate, either fixed or variable.
- Calculate: Click “Start Calculating” to see your estimated monthly payments.
Benefits of Using the FAB Home Loan Calculator
- Quick Estimates: Get instant estimates of your monthly payments.
- Easy Planning: Helps you budget and plan your finances.
- Comparison Tool: Compare different loan amounts, terms, and interest rates to find the best option.
Using the FAB Home Loan Calculator gives you a clear idea of what to expect financially when applying for a home loan, making the process easier and more manageable. For the best results, enter all details correctly and consult a FAB loan advisor for personalised help.
FAB Home Loan Apply Online:
To apply for the FAB home loan in UAE, simply click “click here to apply”:
| Loan Type | Apply Here |
| Home Loan for Residences and Investment in UAE | Click here to apply |
| Home Loan for Non-Residents Looking For Investment Properties in UAE | Click here to apply |
| FAB Islamic Home Finance For UAE Residents | Click here to apply |
Final Takeaway:
So that was all about FAB home loan in UAE. FAB home loans offer a complete solution for anyone wanting to buy their dream home. With competitive rates, flexible terms, and strong support, FAB makes home buying easy and smooth. For the latest information, always check the official FAB website.
Want to know about more home loan options? Check out our guide on the top banks offering mortgage loans in the UAE so that you can make your dream home decision come true.
Frequently Asked Questions (FAQs):
Q. What is the Minimum Salary for a FAB Loan?
The minimum monthly salary required for an FAB loan is AED 15,000. Applicants must have completed at least 6 months of service or be confirmed in their current job. They must be employed by a recognised government, semi-government, or private organisation.
Q. Can expats apply for an FAB home loan?
Yes, expats living in the UAE can apply for an FAB home loan, subject to meeting the eligibility criteria.
