Credit Bureau Consent, Welcome Offer & General Terms & Conditions

I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.

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FAB National Loans Scheme

FAB Bank

National Loans Scheme

Arrangement Fee

1.05%

arrangement fee

1.05%

Arrangement Fee

View details on bank page

Features

  • The National Loans scheme was developed by the Central Bank of the UAE.
  • This scheme is designed for reducing the debt burden of UAE Nationals.
  • Committed to reduce the debt burden of UAE Nationals, who have loans originated prior to May 2011
  • The installments exceed 50 percent of salary or income and the tenor is more than 48 months.
  • The Bank should be contacting eligible applicants who meet the National Loan scheme eligibility criteria
  • National Loan scheme interest rates changes twice a year during January and July
  • The National Loans scheme is developed by the central bank of the UAE for easing the debt burden of the UAE Nationals.

Benefits

  • Loan origination is prior to May 2011 and remaining loan tenor is more than 4 years
  • Debt Burden Ratio (DBR) should be greater than 50% for regular customers and greater than 30% for pensioners
  • The customers consent for participation in the NLS Scheme
  • The customer undertakes not to seek any loans or credit facilities from any bank or financial institution during the period of repayment
  • The National Loan scheme is designed to help ease debt burden for UAE nationals.

Frequently Asked Questions

Q. What is the age to apply for this scheme?

A. The age is 21 years and above to apply for this scheme

Q. When is the loan origination?

A. The loan origination is prior to May 2011 and remaining tenor is more than 4 years

Q. What is the payment tenure?

A. The monthly tenor is up to 48 months

Q. What is the purpose of this scheme?

A. The scheme is designed to reduce debt burden of UAE nationals

Q. What are the interest rates?

A. The Interest rates equal to 3 months EBIOR

FAB

First Abu Dhabi Bank (FAB) is one of the largest banking institutions established in 2017 and is a merger of NBAD and FGB. FAB offers tailor made solutions, products and services to the customers.The international network of FAB is spread over 5 continents providing global relationships, expertise and financial strength to local and international business. FAB offers its diversifying services by having differentiation, agility and innovation as their main motto and vision

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