The personal loan from NBF is a personal finance scheme designed to meet all your urgent personal expenses be it a family vacation, house renovation, education or wedding. Meet all your short-term as well as long term capital needs by availing this loan from NBF.
The borrower gets a loan amount of up to 20 times with this personal loan.
You’re probably eligible for National Bank of Fujairah (NBF) Personal Loan if you are
Less than 65 Years old
Salaried / Self – Employed
with regular income
Earn more than the minimum income required
Your National Bank of Fujairah (NBF) Personal Loan amount eligibility is based on these factors
Minimum income required
AED 5,000 per month
Maximum allowed personal loan is 20 multiples of your salary
EMIs of other loans lower your eligibility
Increase your eligible National Bank of Fujairah (NBF) Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 4 Years
Documentation needed to apply for National Bank of Fujairah (NBF) Personal Loan
- 1. A copy of your valid passport
- 2. A copy of your valid residency visa (for expatriates)
- 3. A copy of your current dated salary certificate (less than 30 days old)
- 4.Original bank statements dating back the last six months
National Bank of Fujairah (NBF) Personal Loan Interest RatesUpdated on 24 Feb 2017
|Interest Rate (Monthly reducing balance)||6.25%|
|Processing Fees||1.00% of the loan amount|
|Loan Tenure||4 Years|
Features of NBF personal loans are listed below –
- Attractive Interest Rates
- Quick and easy approval within 6 days of applying
- Comprehensive Life cover; not mandatory
- Both UAE nationals as well as expats can apply
- Valid visa and passport
- An arrangement fee is charged by the bankA pre-closure fee is charged in case a customer wishes to pay off the entire loan before the agreed initial loan tenure
- Any salaried employee
- Age of the applicant must be between 21 to 65 years
- Minimum monthly salary required is AED 5,000
Established in the year 1982, National Bank of Fujairah has experience in the areas of corporate banking as well as retail banking. The personal banking wing of the bank is also quite strong and the personal finance schemes from NBF are quite competitive and flexible.
NBF bank has been a leader in the development of banking related products and services in the UAE. The functions of the bank range from asset management to retail banking to corporate finance and so on. The bank is a major player as a partner with leading global counterparts.
The bank basically aims at providing financial aid and services to help citizens leverage growth opportunities. NBF strives towards providing innovative and value-added services to its customers.
Other Products from NBF Bank
What is the eligibility criteria?
A UAE national or an expat aged between 21 and 65 years of age. Minimum monthly income needs to be AED 5000 and an income/work proof need to be furnished.
What are the documents required?
- Original Passport
- Salary Certificate
- Bank Statements for last 3 months (less than 30 days old)
- Post-dated cheques for payment of installments
Are there any pre-payment charges?
Pre-payment charges are levied as per bank policy.
Is there a processing fee charged?
A processing fee of 1% of the loan amount is levied.
Am I required to transfer my salary to the bank?
Yes. A salary transfer is required to avail this loan.
Can I alter the tenure of the loan?
Yes. It can be altered as per the existing bank policy.
Does this personal loan scheme require a security to be deposited?
No. There are no collaterals to be submitted as security against this personal loan.
How will I receive the loan amount?
The loan amount is transferred to your account.
How much will the loan installments be?
This will depend on the loan amount availed and the tenure of the loan.
What is the rate of interest?
Interest rates start at 6.25% per annum.
What is the maximum loan repayment period?
The maximum loan repayment period is 48 months.
News About NBF Personal Loan
National Bank of Fujairah is expecting the bad loans to be a temporary issue
National Bank of Fujairah saw a spike in bad loans and provisions in the first quarter of 2016. But, the bank is expecting to see a gradual normalisation of the non-performing loans in the next 2 – 3 quarters. The banks losses for the first quarter of 2016 was Dh72.6 million and it increased by 78% from last year. The losses for the first quarter in 2015 was Dh38.8 million and in the fourth quarter it was Dh75.8 million. The bank is aware that the problems are linked to the small and medium enterprises from the fourth quarter of 2015. The surge in bad loans happened in November - December, 2015. The CEO of National Bank of Fujairah, Vince Cook said that the issues faced in the last quarter were issues that couldn’t be fixed in the short time. He also mentioned that the bad lows are not back on normal levels yet, but they are manageable.
14th June 2016
NBF Shareholders Approve Distribution of Profits of 15 percent of Paid-up Capital
NBF shareholders (National Bank of Fujairah) in its Annual General Assembly Meeting announced the distribution of profits of 15 percent of paid-up capital. This included cash dividends of 7.5 percent (AED 88.7 million) and equivalent bonus shares of paid-up capital.
External auditors for the bank were approved and the remuneration proposal for the Board of Directors of 0.5 percent (AED 2.75 million) of the net profits was also approved.
Chairman of NBF, His Highness Sheikh Saleh Bin Mohamed Bin Hamad Al Sharqi said the bank made excellent progress amid rapid changes in the economic conditions. He said this indicated the effectiveness of their long-term strategy and its strong market position. “We are confident of the bank’s long-term prospects and will continue to seek out further opportunities for growth,” he said.
21st March 2016
National Bank of Fujairah Records 10.5% Increase in Net Profit
National Bank of Fujairah recently revealed that it recorded a 10.5% increase in net profit in comparison with 2014, rising from AED 505.4 million to AED 558.8 million. The operating income of the bank also increased by 18.3% year on year thanks to the growth in net income interest by 17.7%.
Net commission and fees income also increased by 16.7% while derivatives and foreign exchange income grew by 28.5% in comparison with the previous year. Also up was the bank’s operating profit – jumping to AED 766.9 million from AED 637.8 Million, marking a 20.2% year on year increase. The board of directors of National Bank of Fujairah has suggested that the profits be distributed through bonus shares of 7.5% of the paid-up capital and 15% in cash dividends of 7.5%.
03rd February 2016
National Bank of Fujairah as ‘Best Local Bank - UAE’
NBF (National Bank of Fujairah) has recently won the award for being the best local bank in the UAE, at the EMEA Finance MIddle Banking Awards 2015.
The reasons being cited for the win of NBF in the awards ceremony are the growth of the bank in the international arena and the bank’s consistent outperformance comparing the market’s situation. Apart from that, the bank has also begun to expand its portfolio through which different aspects of the bank have been growing as well, booking businesses has been on a surge of growth.
08th December 2015