UAE
UAE 
The National Loans Scheme (NLS) was developed by the Central Bank of the UAE, in consultation with UAE Banks Federation and national banks to reduce the debt burden of the UAE Nationals. The bank is committed to reduce the debt burden of UAE Nationals, who have loans originated prior to May 2011, and at present their installments exceed 50% of salary/income and their tenor is more than 48 months.
Bank would be contacting the eligible customers who meet the NLS eligibility criteria
Origination date of the loan should be prior to May 2011 and remaining loan tenor should be more than four years
Debt Burden Ration (DBR) should be greater than 50% for regular customers and greater than 30% for pensioners
Customer’s consent for participation in the NLS scheme
The customer undertakes not to seek any loans or credit facilities from any bank or financial institution during the period of repayment
The customer agrees to cancel all credit cards issued by the bank, other banks and financial institutions
Interest rate / profit rate to be reduced to 3 Month Emirates Interbank Offered Rate (EIBOR)*. National Loans Scheme interest rates/ profit rate are subject to change twice a year at the beginning of each January and July.
*Present rate of 0.3825% (as of 1st January 2021). This may vary as a result of fluctuations in EIBOR published by the Central Bank of the UAE
We are currently experiencing higher call volumes than usual. We encourage you to use the FAB Mobile app and check our FAQs page.
