NBF Personal Loan

Minimum Salary
0,00 د.إ

Description

National Bank of Fujairah (NBF) offers fixed‐rate personal loans starting at 5.50% p.a. for UAE Nationals and 6.00% p.a. for Expats, with financing up to 20× salary (max AED 3 million for Nationals, AED 1 million for Expats), tenures up to 48 months (60 months for GHQ staff), and transparent fees. Benefits include two annual instalment deferrals, a 5‐day cooling‐off period, mandatory life insurance cover, and quick disbursement.

Features

Interest Rates and Loan Amounts

Fixed Interest Rates (Reducing Balance):
- UAE Nationals: 50%–14.00% p.a.
- Expatriates: 00%–15.00% p.a.
Loan Amounts:
- UAE Nationals: Up to AED 3 million
- Expats: Up to AED 1 million
- Top-up loans available subject to approval
Tenure: 12–48 months (up to 60 months for GHQ staff)

Eligibility Criteria

Age: 21–65 years (Nationals), 21–60 years (Expats) at maturity
Minimum Salary: AED 5,000 per month credited to an NBF account
Employment:
- Salaried: Minimum 3 months’ confirmed service (6 months for Expats)
- Self-employed: Minimum 2 years trading with valid UAE licence
Credit Bureau: Consent to Al Etihad Credit Bureau check; minimum AECB score may apply
Salary Transfer: Mandatory for salaried applicants until full repayment

Schedule of Fees and Charges

Fee Type	Charge
Processing & Documentation Fee	1% of loan amount (Min AED 500, Max AED 2 500) inclusive of VAT
Early or Partial Settlement (up to 20%)	Free once per year; thereafter 1% of amount (Max AED 10 000)
Instalment Deferment	Up to 2 per year; AED 200 per deferment
Loan Rescheduling Fee	AED 250 per request
Late Payment Charge	3% of delayed amount (Max AED 700) per month
Life Insurance Premium	0.0175% per month on outstanding balance (mandatory cover)
Deal Cancellation (Cooling‐Off)	Full fee refund if cancelled within 5 working days
Liability/No-Liability Certificate	AED 60
Clearance Letter	AED 85
Documentation Retrieval Fee	AED 100

All fees inclusive of VAT unless stated otherwise.

Documents Required

Duly completed NBF personal loan application form
Valid passport copy (and UAE residence visa for Expats)
Emirates ID copy
Recent salary certificate or salary transfer letter (issued within 30 days)
Last 3 months’ bank statements (if salary not yet with NBF)
Signed undated security cheque equal to 120% of loan amount
Trade licence and Memorandum of Association for self-employed
Al Etihad Credit Bureau consent form

Additional Info

Competitive Rates: Fixed rates from 5.50% (Nationals) and 6.00% (Expats).
High Multiples: Borrow up to 20× salary, subject to approval.
Flexible Tenure: Up to 48 months (60 months for GHQ staff).
Quick Disbursement: Funds available within 10 business days post-approval.
Debt Consolidation: Combine existing liabilities into one instalment at preferential rates.
Two Annual Instalment Deferrals: Manage cash flow with up to two free deferments per year.
Mandatory Life Cover: Protect borrower and bank; premiums added to instalments.
Transparent Fees: Clear caps on processing and settlement fees; no hidden costs.
Cooling-Off Period: 5-day right to cancel without penalty.
Digital Convenience: Online application, SMS/Email updates, and existing-customer top-up facility.