First Gulf Bank is one of the leading banks in UAE offering a wide range of financial products and services to the residents of UAE. The bank offers a variety of personal loan schemes like ‘New to country loans’, ‘loans for UAE Nationals’ and ‘Personal installment loan’. Each personal loan comes with its own set of features and benefits. First Gulf Bank Personal Installment Loan comes at a very competitive rate with a load of benefits.
Features and Benefits of First Gulf Bank Personal Installment Loan
Listed below are the features and benefits of First Gulf Bank Personal Installment loan scheme.
- Offers personal finance for all kinds of personal expenditure
- Attractive loan amounts up to AED 200,000
- Competitive rate of interest
- No salary transfer required
- Minimum documentation required
- Quick approval
- Hassle free application process
- Flexible installment loan repayment options
- Comprehensive life insurance along with the loan
- Very low eligibility
- Available to all eligible UAE residents
Eligibility criteria for First Gulf Bank Personal Installment Loan
Listed below is the eligibility criteria for First Gulf Bank Personal Installment loan.
- Minimum age- 21 years
- Should be employed in a government, semi-government or a well reputed private organisation
- Should possess a valid UAE residence visa or a passport copy
Fees and charges applicable on First Gulf Bank Personal Installment Loan
Listed below are the fees and charges applicable on First Gulf Bank Personal Installment loan.
- Processing fee- 1% of the loan amount
- Rate of interest- 24%
- Credit life insurance- 1- 1.5% of the total loan amount
- Late payment fee- 2% of the delayed amount
- Deferment of Installment- AED 100 for each deferment
- Partial payment- 1% of the partial payment amount
How to avail First Gulf Bank Personal Installment Loan?
There are two ways in which one can avail First Gulf Bank Personal Installment loan, online and offline. The customer can apply for the loan online though the bank’s official website or through a third party financial website. The customer can apply for it offline by visiting one of the bank’s branches and by filling out the application form personally.