First Gulf Bank is one of the most prominent banks in the United Arab Emirates. The bank has operations in several financial verticals. The personal banking domain consists of financial products and services offered to customers for their financial needs. Personal finance from FGB is one such product. The personal finance scheme from FGB is quite sought-after and a very popular financial product.
You’re probably eligible for First Gulf Bank (FGB) Personal Loan if you are
At least 21 years old
Less than 65 Years old
Salaried / Self – Employed
with regular income
Earn more than the minimum
Your First Gulf Bank (FGB) Personal Loan amount eligibility is based on these factors
Minimum income required
AED 10,000 per month
Maximum allowed personal loan is AED 200000
EMIs of other loans lower
Increase your eligible First Gulf Bank (FGB) Personal Loan amount by these steps
Pay off your credit card bills
Documentation needed to apply for First Gulf Bank (FGB) Personal Loan
- 1. The applicant should hold a valid passport copy and UAE residence visa
First Gulf Bank (FGB) Personal Loan Interest RatesUpdated on 23 Feb 2017
|Interest Rate (Monthly reducing balance)||24.00%|
|Processing Fees||1.00% of the loan amount|
|Loan Tenure||4 Years|
Types of First Gulf Bank Personal Loans
First Gulf Bank offers several types of personal finance schemes in order to take care of individual customer preferences. Following are the types of personal loans available from FGB.
- FGB Personal Loans for UAE Nationals
- FGB New to Country loans
This personal loan scheme is aimed at providing credit to UAE nationals in times of financial need. This loan can be availed for a variety of reasons like wedding expense, vacation, child’s education and so on.
As the name itself depicts, the New to Country personal loan is meant for customers who have just arrived in the UAE and want funds to settle down in the country. This scheme offers flexible and convenient payment plans to help customers establish their roots in UAE.
Why avail personal loan from First Gulf Bank?
First Gulf Bank is a well established banking entity in the UAE and it strives to create value-added products and services for its customers and its functions range from wealth management to wholesale banking to private banking. The bank is a well-recognized financial institution in the UAE and serves its customers with world class banking products while pushing the UAE economy towards greater growth. It was awarded the ‘Best Bank in the United Arab Emirates' and 'Best Bancassurance' awards at the Banker Middle East Industry awards, 2013
Customers can choose their most suitable financial product from a range of financial products and services offered by First Gulf Bank. The bank has products to suit the needs of UAE nationals, expats as well as for customers who have recently moved to the UAE.
First Gulf Bank (FGB) Personal Loan for UAE Nationals
FGB strives to create value-added products and services for its customers and its functions range from wealth management to wholesale banking to private banking. The bank is a well-recognized financial institution in the UAE and serves its customers with world class banking products while pushing the UAE economy towards greater growth.
Features and benefits of FGB Personal loan for UAE Nationals
Personal Loan for UAE nationals is a personal finance scheme aimed at supporting UAE nationals in their need of extra cash. This loan can be disbursed for a variety of reasons like a family vacation, house renovation, house furnishing, children’s education and so on.
Meet all your short-term as well as long term capital needs by availing this loan from FGB.
Some of the main features of FGB personal loans for UAE nationals are listed below –
Features of FGB Personal Loan for UAE Nationals
- Enjoy attractive loan amounts depending upon your monthly salary
- You can avail attractive and competitive rates of interest on the FGB personal loan for UAE nationals
- Loan approvals are easy and quick and such you are not required to wait for long to get the loan amount
- Documents required are minimum ensuring a hassle-free loan application process for you
- Any salaried employee of government, semi-government or private company can apply for the FGB personal loan for UAE nationals
- Applicant age should be 21 years or above
- Minimum monthly income required to be eligible for this personal loan is AED 10,000
First Gulf Bank (FGB) New to country Loan
The New to Country personal finance from FGB is meant to help you settle down in the UAE if you are a newbie in the amazing land of UAE. The loan is offered to meet your immediate financial needs and offers flexible and convenient repayment plans. Avail this loan offer for financial needs such as buying furniture, leasing a flat and your child’s school admission.
Features and benefits of First Gulf Bank (FGB) New to country Loan
The New to Country Loan by First Gulf Bank is a personal loan loaded with amazing features and benefits that are sure to fulfil the needs of customers who are new to the UAE.
Features of First Gulf Bank (FGB) New to country Loan:
Following are some significant features of this personal loan –
- Minimum employment period with current company is not required
- Choose from a range of rewarding credit cards with this personal loan
- Simple and easy documentation and quick approval
- Life insurance cover comes along with this personal loan scheme
- Processing fee charged is 1% of the loan amount or a minimum of AED 500 or maximum of AED 2,500
- Credit life insurance available with this is for 1-1.5% of the total personal loan amount
- Late payment of loan installment is charged at 2% of the late payment amount and should be between AED 50 - AED 200
- You can choose to defer your loan repayment. This deferment of loan installment can be availed at a deferment fee of AED 100 per request
- Liability letter is issued at AED 100 per request
- Partial payment of loan can be made and is charged at 1% of the partial payment amount
- You can make early settlement of this loan by paying a fee equal to 1% of the balance loan amount
Benefits of First Gulf Bank (FGB) New to country Loan:
- Maximum loan amount that can be availed is AED 200,000
- An interest rate of 24% reducing is applicable on this personal loan
- Avail from a range of Credit Cards with exclusive annual prizes worth AED 3 Million
- Personal life insurance cover is available with this personal loan scheme
- Complimentary job loss cover is also available in case due to involuntary reasons a customer loses his/her job
- Any salaried employee, or those working in government, semi-government or private sector can apply for the New to Country loan
- Customer should have a valid visa and passport
- Age of the applicant needs to be above 21 years
Other Products from FGB
About First Gulf Bank
First Gulf Bank or FGB is a leading bank in the UAE. It was established in the year 1979 and is headquartered at Abu Dhabi. The bank has an equity holding of AED 31.2 billion and is the largest equity based bank in the UAE.
FGB offers financial services to private customers as well as corporate entities. The bank has a wide network of branches in the UAE and caters to a variety of customers. International FGB branches are located in Singapore, Qatar, a subsidiary in Libya and some representative offices in Hong Kong.
First Gulf Bank (FGB) Personal Loan FAQs
- What are the credit card benefits offered by the First Gulf Bank on its First Gulf Bank (FGB) new to country loan?
- What is the maximum amount of personal loans offered by First Gulf Bank?
- What are the different types of personal loans offered by First Gulf Bank?
- What is the minimum monthly requirement to avail of FGB Personal loan for UAE Nationals?
- What is the interest rate offered on First Gulf Bank (FGB) new to country loan?
- Does the First Gulf Bank offer the loan deferment facility on its personal loan schemes?
- Does the First Gulf Bank (FGB) New to country Loan offer any life insurance cover to its customers?
- Who is eligible to apply for new to country loan offered by First Gulf Bank (FGB)?
- Does First Gulf Bank (FGB) new to country loan offer any credit life insurance facility?
- Do the new to country loans provided by the First Gulf Bank offer any partial payment facility?
The First Gulf Bank offers a wide range of credit cards along with prizes worth AED 3 million on its new to country loans.
The First Gulf Bank offers a personal loan up to AED 2,00,000.
The types of personal loans offered by First Gulf Bank are FGB New to Country loans and FGB Personal Loans for UAE Nationals.
The minimum monthly income required to avail of FGB Personal loan for UAE Nationals is AED 10,000.
The First Gulf Bank offers 24% reducing interest rate on new to country personal loans.
Yes. Customers can defer their new to country loans upon payment of AED 100 to avail of the facility.
Yes. The First Gulf Bank (FGB) new to country loans offer life insurance cover to customers.
Salaried employees, private sector and semi-government employees are eligible to apply for
new to country loans offered by the First Gulf Bank.
Yes. The First Gulf Bank offers credit life insurance facility on new to country loans at 1.5% of the loan amount.
Yes. The new to country loans provided by the First Gulf Bank do offer the partial payment facility for the benefit of customers.
News About FGB Personal Loan
First Gulf Bank records 6% Increase in Net Profit in 2015
The board of First Gulf Bank suggests distribution of 100% cash dividends for 2015 representing 75% of the entire year’s net profit. The bank also revealed last weekend that the net profit for 2015 increased by 6% at AED 6.01 billion. The overall income for 2015 increased by 6%, making it the sixteenth year in succession that the bank has recorded consistent growth in profitability. The Earnings per Share in 2015 was AED 1.32, marking a rise of 8% from the AED 1.22 recorded in 2014. A board member of First Gulf Bank and its managing director, Abdulhamid Saeed revealed that the bank is looking forward with confidence and aims to continue delivering its long-term strategy with prudence and discipline with a view to maximising returns for all its stakeholders.
03rd February 2016
First Gulf Bank adds another feather to its cap with SME Bank of the Year award
First Gulf Bank, one of the leading banks in UAE was recently named ‘SME Bank of the Year’ at the 2015 Arabian Business Startup Awards. The bank received the award for its support to small and medium sized enterprises. The special gala dinner was held at the Ritz Carlton DIFC hotel in Dubai and attended by over 300 guests.
11th December 2015
First Gulf Bank (FGB) awarded ‘Bank of the year’ at the 2015 Arabian Business Achievement Awards
First Gulf Bank (FGB), one of the leading banks of UAE recently added another feather to its cap at the Arabian Achievement Awards 2015. The event held at JW Marriott Marquis Hotel in Dubai and was attended by business leaders and VIPs. The bank was named ‘Bank of the year’ owing to its exceptional performance over the last year and its efforts to support small businesses in UAE. The awards are judged by an independent panel and this year’s awards were presented by HE Dr Sultan Al Jaber, UAE Minister of State.
12th November 2015
FGB launches new Emirati savings programme, Idkhari
FGB, one of the leading banks in the UAE, has introduced the Idkhari programme. This is a savings plan programme that is designed specifically for the bank’s employees. Through Idkhari plan, bank employees can save a percentage of their monthly salary, by contributing into a beneficial plan. The duration of the plan will be mutually agreed upon by the employees. All UAE National FGB employees are eligible to contribute in Idkhari.
In a statement released, Hana Al Rostamani, Head of the Consumer Banking Group at FGB said that the Idkhari programme is the bank’s way to show appreciation for their Emirati employees and recognise their ongoing efforts in supporting the bank to help achieve its goals.
Introduced on November 04, 2015, which is celebrated as Flag Day across the UAE, members of management and staff gathered at the bank’s headquarters in Abu Dhabi to raise the flag and show support for the UAE and as a remembrance for the nation’s patriots.
06 November 2015