Personal Loan Provided By Mashreq
Check Eligibility for Mashreq Personal Loan
Mashreq Personal Loan Calculator
|Mashreq Personal Loan Details|
|Minimum Salary||AED 7000 - AED 10000 per month (depends on the nationality and type of loan)|
|Interest Rates||Flat rate: 2.63% | Reducing rate: 6.25%|
|Maximum Loan Amount||AED 150K - AED 3000K(depends on the nationality and type of loan)|
|Early Settlement Fees||1% of the outstanding amount|
|Arrangement Fees||1% of the approved loan amount|
|Age||21 - 60 years(Expats) & 65 years(UAE Nationals)|
Features of Mashreq Personal Loan
Mashreq bank provides a variety of personal loans for different set of people like
Personal loan for Expats
Provides personal loan to meet the requirements of salaried expats working in UAE
- Minimum salary AED 7000
- Salary transfer to Mashreq bank is required
- Debt to Burden Ratio should not exceed 50%
- Can get up to 1 million AED
Personal loan for UAE Nationals
Provides personal loan for Emiratis with attractive interest rates and hassle-free documentation
- Minimum salary AED 10,000
- Only salaried individuals are eligible
- Can get up to 3 million AED
- Debt to Burden ratio should not exceed 50%
Personal loan for expats without Salary transfer
Provides personal loan for expats with no requirement of salary transfer
- Minimum salary of AED 7000 is required
- Salary Transfer not required
- Minimum one year of employment with the current company
Emirati personal loan for pensioners
Provides personal loan without any guarantor and can maintain zero balance account
- Minimum income of AED 10,000 is required
- Free cheque book and debit card is given
- Pension must be transferred to Mashreq bank account
Personal loan for New to UAE/New to Employer
Provides loan to the people who are new to UAE with a valid resident Visa or people who just got employed in UAE
- Company must be listed with the bank
- Salary transfer is required
- Minimum salary of AED 7000 is required
- Debt to burden ratio should not exceed 50%
Eligibility Criteria of Mashreq Personal Loan
- A minimum salary of AED 7000 - AED 10,000 is required
- UAE Nationals and Expats are eligible
- For few loans salary transfer is mandatory
Check here for the Eligibility Criteria of Mashreq Personal Loan
Documents Required of Mashreq Personal Loan
- Salary Certificate/Salary Certificate letter is mandatory
- 3-6 months bank statements are required
- Valid passport and VISA
- Emirates ID
- Personal loan application
Mashreq Personal Loan Interest rates
Frequently Asked Questions
Q. What are the other personal loans provided for UAE Residents?
A. Other than Mashreq, there are various banks providing loans. You can check various personal loan in UAEhere.
Q. Should the employee be a part of approved companies listed with Mashreq to avail the expat loan?
A. No, being a part of Mashreq approved list of companies is not necessary to avail expat’s loan.
Q. Does the salary requirement vary from employees of approved companies and non-approved companies?
A. Yes. It’s AED 7000 for approved companies and AED 10,000 for non approved companies.
Q. Is installment deferment option available with expats loan?
A. Yes. You postpone your loan payment installments 2 times every year.
Q. How can I apply for Mashreq Emirates personal loan?
A. You can apply the loan by consulting your nearest branch, calling the bank, via SMS, applying online.
Q. What’s the fees charged for cancellation of the loan?
A. A fee of AED 100 is charged on cancellation of loan.
Q. I am expat. How can I avail Mashreq personal loan without transfer of my salary?
A. You can go for Mashreq Non Salary Transfer loan for expats if you want to avail the loan without the transfer of your salary.
Q. How can I meet my immediate finance needs if I am new to UAE using Mashreq personal loans?
A. Mashreq provides New to UAE/ New to employer personal loan for people who newly moved to UAE/newly changed their employer.
Q. Should I be a UAE national to acquire Emirati personal loan for pensioners?
A. Yes. You should be UAE national to avail personal loan for pensioners.
Q. What is the minimum salary required for a Mashreq personal loan?
A.For a personal loan in Mashreq the applicant should have a minimum salary of AED 7000.
Q. What is the maximum loan amount that can be availed?
A.The maximum loan amount that can be availed is AED 3000K.
Q. What is the interest rate charged on a personal loan in Mashreq Bank?
A. The interest rate charged on a Mashreq Personal Loan is: Flat rate starts from 3.3% and reducing rate from 5.99%.
Mashreqbank is one of UAE’s leading financial institutions. Established in 1967 by the Al-Ghurair Group, it is the largest private sector bank in the UAE. With more than 45 years of experience in the UAE banking and financial services market, Mashreq bank is well established as a leading commercial and retail bank.
Beginning 2011, Mashreqbank crafted its strategic vision “to provide our customers the most rewarding banking relationships” putting the customer at the centre of all our efforts. Mashreqbank operates as a Universal Bank offering a comprehensive array of products and services to a wide range of customer segments in corporate and retail banking in the UAE and has a strong regional presence in Qatar, Bahrain, Kuwait and Egypt. Mashreqbank also has a Financial Institutions centric presence in the international financial centres such as London, New York, Honk Kong and Mumbai.
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