First Gulf Bank is the third largest bank in UAE (measured by assets) and it is headquartered in the Emirate of Abu Dhabi. The bank offers different kinds of financial services and products to cater to different financial needs of its customers. The bank offers different kinds of personal loans including an exclusive loan option called as First Gulf Bank New to Country loans. The loan option provides personal finance with flexible and convenient payment plans.
Features and benefits of First Gulf Bank New to Country Loans
Listed below are the features and benefits of First Gulf Bank New to Country loan.
- Offers high loan amounts up to AED 200,000
- Flexible and convenient payment plans
- Offers personal life insurance cover
- Offers complimentary involuntary loss of employment cover
- Minimal and simple documentation
- Fast approval
- Easy and hassle free application process
- Offers a wide range of credit cards
- The credit cards come with exclusive annual prizes worth AED 3 million
- Dedicated team of customer service
- No need of salary transfer
- No minimum employment period
- Available to all UAE residents
Eligibility criteria for First Gulf Bank New to Country Loans
Listed below is the eligibility criteria for First Gulf Bank New to Country Loans
- Minimum age- 21 years
- The applicant must be employed at a government, semi-government or reputed private organisation
- The applicant should hold a UAE resident visa and a valid passport copy
Fees and charges applicable on First Gulf Bank New to Country Loans
Listed below are the fees and charges applicable on First Gulf Bank New to Country loans
- Rate of interest- 24%
- Processing fee- 1% of the loan amount
- Credit life insurance- 1% to 1.5% of the loan amount
- Late payment fee- 2% of the delayed payable amount
- Early settlement charge- 1% of the outstanding loan amount
How to avail First Gulf Bank New to Country Loans?
One can avail the loan by applying for the loan online or offline and by providing the required documents. The applicant can apply for the loan online through the bank’s official website or through a third party financial website. If they don’t have access to internet, they always have the option of applying offline by visiting one of the bank’s many branches in UAE.