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Back to Coronavirus Help and Support

FAQs & Financial Relief

From April 2020 we have introduced a number of additional financial relief measures to UAE residents to support you during the COVID-19 outbreak.


I want to defer my personal, car, home loan or credit card repayments

We are able to offer impacted customers up to three months deferral on payments and interest or financing, with no deferral fees for the following products:

  • Auto loans
  • Mortgages
  • Personal loans
  • Credit cards – only if the customer has an existing FAB loan or bank account

Deferrals are available for customers who have been impacted as follows (and can provide required evidence / documentation as listed):

  • Positive test for COVID-19 (will need to provide a medical certificate, SEHA notification or government recognised health facility notification)
  • Reduced income or salary including:
    • Salaried individuals with a reduction in salary by 20% or more (will need to provide at least two latest payslips showing a reduced salary)
    • Salaried individuals put on unpaid leave (will need to provide a letter/ email from their employer stating they are on unpaid leave)
    • Self-employed individuals with reduced cash flow and / or income by 20% or more (will need to provide bank statements, evidence of reduction in rental income, evidence of reduction in monthly VAT)
  • Customers who have lost their job or source of employment (will need to provide letter from their employer)
  • Investors or landlords with estate financing / mortgages who have a reduced rental income as a result of tenants not be able to pay rent or an increase in vacancies (will need to provide Tenancy Contract Reports / confirmation from property management companies on reduced rentals / letter and cheque copies from tenants showing a reduced rental).
  • All required documents need to be available and ready to be uploaded prior submitting the request. Requests without required documents will not be processed.
  • Customers can indicate how many months (up to three) they would prefer to defer payments. FAB will make a final decision on an individual basis. Customers would need to have paid previous repayments on time and accounts and/or credit cards with FAB should be in good standing (non-delinquent)
  • If there is insurance covering the loan, these payments need to continue through the deferral period
  • If you previously applied for and /or received a payment deferral in April and/or May, you are eligible to reapply for cumulative deferrals of up to 3 months further financial assistance if you meet the criteria listed above and upload the required documents with your request.
  • If you are not eligible for a three-month deferral, you can apply to defer your loan through the regular deferral process. In this instance, you will receive a one-month deferral of your repayment and will be expected to pay deferral fees. Approval of the deferral will be subject to the standard FAB Deferral Policy.

Can I still apply for a loan or credit card?

Yes. In addition, we have provided the following benefits for any new customer:

  • We will continue to grant loans and credit cards to all customers based on our existing policies and will offer up to a 90-day grace period for the first instalment
  • New personal loans starting from 3.99% per year introductory variable rate – the most competitive rate in the market.
  • New mortgage loans for property purchase and buyouts of existing loans with flexible interest rates and options to fix your rate for 10 years.
  • Free balance transfer to a FAB credit card. Transfer a credit card balance from a non-FAB credit card to a new FAB credit card, with repayment of the balance (in instalments) at 0% interest for 12 months

How can I make a request to postpone my payments?

You can simply make your request by:

  • Applying through the FAB Mobile app. You can also upload the required documents through the app.
  • Remember to include all of the required documents in your email. Requests without required documents will not be processed.

What documents do I need to provide?

Deferrals may be approved based on customers who have been directly impacted as listed below and are able to provide evidence and documentation as also listed below:

  • Positive test for COVID-19 (will need to provide a medical certificate, SEHA notification or government recognised health facility notification)
  • Reduced income or salary including:
    • Salaried individuals with a reduction in salary by 20% or more (will need to provide at least two latest payslips showing a reduced salary)
    • Salaried individuals put on unpaid leave (will need to provide a letter/ email from their employer stating they are on unpaid leave)
    • Self-employed individuals with reduced cash flow and / or income by 20% or more (will need to provide bank statements, evidence of reduction in rental income, evidence of reduction in monthly VAT)
  • Customers who have lost their job or source of employment (will need to provide letter from their employer)
  • Investors or landlords with estate financing / mortgages who have a reduced rental income as a result of tenants not be able to pay rent or an increase in vacancies (will need to provide Tenancy Contract Reports / confirmation from property management companies on reduced rentals / letter and cheque copies from tenants showing a reduced rental).

 

All required documents need to be available and ready to be uploaded prior submitting the repayment deferral request. Requests without required documents will not be processed.


How will I know if my request is approved?

Once you have made your request. You will receive a response by SMS. If approved, you will be notified how many months your deferral was approved for.


What else should I know before requesting to postpone my repayment:

  • If you have previously applied for and / or received a repayment deferral in April and or May 2020, you are eligible to reapply for a cumulative of three months of further financial assistance if you meet the criteria listed above, and upload the required documents with your request.
  • If you are not eligible for a three-month deferral, you can apply to defer your loan repayment through the regular deferral process. In this instance, you will receive a one-month deferral of your repayment and will be expected to pay deferral fees. Approval of the deferral will be subject to the standard FAB Deferral Policy.
  • You need to contact us at least seven working days before your next repayment is due.
  • If you apply after the seven working days, you deferral request will be processed for the following month
  • You will need to continue to pay the monthly insurance premium associated with your loan/credit card

I am an SME and require support

  • FAB will postpone up to three months of instalments for all loan types with no fees
  • We are offering SMEs special re-payment restructuring of working capital facilities, to ease current cash flow disruptions and help sustain business operations
  • We will continue to grant loans to all customers based on the existing policies and will support them by offering up to a three-month grace period for the first instalment with lower pricing
  • For qualifying SME micro and small merchants, we will also reimburse 50% of the monthly transaction fees on Point of Sale (POS) service charges 
  • Fees for loans under the Ghadan 21 initiative have been reduced. FAB is also reducing or suspending a wide range of fees to help businesses manage their accounts 

For more information please contact your Relationship Manager or our contact centre and your Relationship Manager will get back to you to offer support for your specific circumstances. FAB terms and conditions apply.  


I am a first-time home buyer and need help to finance my new home at this time

We have reduced the down-payment of owner-occupied properties for first-time buyers from 25% to 20% (and from 20% to 15% for UAE nationals). The reduction in down-payment is not available for commercial properties and is limited to first-time buyers.


I am a FAB credit card holder. What else are you doing to help me?

  • We have also removed foreign transactions fees for cancelled hotel and airline booking in foreign currencies.
  • You can transfer a credit card balance from a non-FAB credit card to a new FAB credit card, with the repayment of the balance (in instalments) at 0% interest for 12 months

I am a FAB account holder. What else are you doing to help me?

We have removed some account fees and charges, and increased your debit card limits to make life easier including:

  • You can now withdraw cash from any ATM in the UAE at AED 1.5 per transaction until 31 December 2020.
  • You can transfer funds in AED to any bank in the UAE for free using our digital channels until 31 December 2020.

We have also increased your daily debit card cash withdrawal limit until 31 December 2020

 

FAB credit / debit card Daily cash withdrawal limit until 31 December 2020
World Elite debit card AED 40,000
World debit card AED 40,000
Platinum debit card AED 20,000
One Platinum debit card AED 20,000

Standard debit card AED 15,000
Etihad Signature debit card AED 30,000
Etihad Platinum debit card AED 20,000
Islamic debit card AED 20,000
Islamic Elite debit card AED 40,000

The new cash limit changes are only for customers who had the standard default limit on the card. For customers who have previously modified their withdrawal limit, the above changes does not apply.

We have reduced other debit card fees and charges:

 

Fees

New

Previous

Declined cash withdrawal fee from another bank ATM in the UAE (until 31 December 2020)

No charge

AED 1

Balance enquiry from another bank ATM in UAE (until 31 December 2020)

AED 0.70

AED 1

Cash withdrawal from another bank ATM outside of the UAE but within the GCC (until 31 December 2020)

AED 5

AED 6

Balance enquiry from another bank ATM outside of the UAE but within the GCC (until 31 December 2020)

AED 2.50

AED 3

Cheque processing timings:

  • Cheques presented in the branches will now clear in one business day (vs the same day previously)
  • Cheques deposited in Cash Deposit Machines or deposit boxes will now clear in two business days (vs one business day previously)

How is FAB managing its response?

FAB has created a dedicated Crisis Management Team (CMT) to ensure an effective Group-wide response to the COVID-19 outbreak. The CMT is monitoring the latest international and local alerts and advice, and FAB is consistently evolving its response accordingly.

Does FAB Group have a Business Continuity Plan?

FAB Group has a well-established Business Continuity Management framework which is in line with industry best practices, standards and regulatory requirements. Our Business Continuity Plans are regularly tested to ensure organisational resilience and continuity of business services in the event of an emergency.

How can I continue to avail my banking services?

For customers, we recommend replacing visits to our branch or office with alternatives available to use remotely at home.

Alternative channels include:

  • ATMs: Use your FAB debit card to withdraw cash from any ATM for any bank in the UAE, at AED 1.5 per transaction until 31 December 2020
  • Cash Deposit Machine
  • Mobile app
  • Online banking
  • payit

Changes to your debit card fees and limit:

Changes to debit card cash withdrawal fees and limits and free AED fund transfers using digital channels. 

  • ATM fees: Withdraw cash from any ATM in the UAE at AED 1.5 per transaction until 31 December 2020.
  • Free transfer of AED funds: You can transfer funds in AED using our digital channels to any bank within the UAE for free - until 31 December 2020.
  • Changes to your debit card daily ATM cash withdrawal limit:  Increases to your daily debit card ATM withdrawal limit until 31 December 2020.

Check the table below for the specific increase for your card type: 

 

FAB credit / debit card Daily cash withdrawal limit until 31 December 2020
World Elite debit card AED 40,000
World debit card AED 40,000
Platinum debit card AED 20,000
One Platinum debit card AED 20,000

Standard debit card AED 15,000
Etihad Signature debit card AED 30,000
Etihad Platinum debit card AED 20,000
Islamic debit card AED 20,000
Islamic Elite debit card AED 40,000
First Abu Dhabi Bank Master Terms and Conditions apply.

 

Updates on branch services

 In line with the measures we are taking in response to the COVID-19 coronavirus, we have discontinued a number of banking services in our branches and contact centres, these include:

  • Funds transfers within the UAE (within FAB and to other banks)
  • Funds transfers to non-UAE banks
  • Activating a new card
  • Updating your email address
  • Updating your mobile phone number
  • Updating your Emirates ID details
  • Requesting a new cheque book
  • Downloading an e-statement

You can continue to access these services through the mobile app and online banking portal.

 

Updates on business banking services

  • Cash deposits will only be made through ATMs, with no coins allowed until further notice
  • We encourage you to make cash withdrawals through ATMS wherever possible, where no fees will be incurred until 31 December 2020
  • Cheque deposits are to be made through Smart Cash Deposit Machines and Cheque Drop Boxes
  • We kindly ask you to minimise visits to the branches where possible, and to use alternative banking channels

 

Complete your banking requirements safely and securely with FAB’s mobile and online banking services

 

We would also like to remind you of the other services that you can access on your mobile app, safely and securely – anywhere and anytime:

  • Seeing all of your accounts in one view
  • Getting your latest balance and transactions
  • Making a payment to a new beneficiary
  • Paying bills and set up standing orders
  • Converting credit card transactions into an easy re-payment plan
  • Instant processing of your credit card balance transfers and Quick Cash requests
  • Checking your credit card minimum payment due
  • Checking your credit card payment due date

Download the FAB mobile app at App Store or Google Play Store


How long will FAB’s measures remain in place?

FAB’s measures will remain in place for as long as necessary, in accordance with advice from the relevant authorities.

We are currently experiencing higher call volumes than usual. We encourage you to use the FAB Mobile app and check our FAQs page.

 

 

Customer Service

600525500

International

+971(2)6811511

Ratibi Service

600522298

International

+971(2)4996279

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First Abu Dhabi Bank

First Abu Dhabi Bank P.J.S.C

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