Mashreq Emirati Personal loan for Pensioners

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Mashreq Bank

Emirati Personal loan for Pensioners

Minimum Salary

AED 10K

Flat Rate

3.57%

Reducing Rate

6.49%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Apply Now
minimum salary

AED 10K

Minimum Salary

flat rate

3.57%

Flat Rate

reducing rate

6.49%

Reducing Rate

max finance

AED 1000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

Apply Now

View details on bank page

Features

  • Must be a UAE national to apply for this scheme
  • The loan is provided for a interest rate of 6.49%
  • Minimum salary of AED 10,000 is required
  • The reduction rate and the flat rate is 6.49% and 3.57%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Pension salary transfer is mandatory
  • Finance up to AED 1,000,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 1% of loan amount

Benefits

  • Applicants can get up to AED 1,000,000 loan amount
  • Documentation is simple and easy
  • There is low salary requirement and long repayment period along with this scheme
  • Guarantors are not needed to apply for this loan
  • Cheque book and debit card is provided free along with this scheme

Frequently Asked Questions

⭐ Is it possible for a pensioner to open joint account with his/her spouse?

A. Yes, Mashreq bank provides the facility of opening joint account with your spouse.

⭐ Do we need to credit salary in Mashreq account?

A. No, but atleast one payment from your pension salary should be credited in Mashreq account .

⭐ Is it necessary for pensioners to open seperate bank account to apply for personal loan Emirati pensioner finance in Mashreq bank?

A. No, it is not required. The pension can be credited to your existing current/ saving account in Mashreq bank.

⭐ When does the family pension commence in Mashreq bank?

A. The family pension is commenced after the death of the pensioner.

⭐ What type of retirement situations are considered by Mashreq bank for personal loan for Emirati pensioners?

A. The retirement situations that are considered by Mashreq bank are the following:
1. Those on pension and social security
2. Self funded retirees
3. Retirees who work part-time

Mashreq

Mashreq Bank is a private sector bank established in 1967. It was started by Al-Ghurair Group and it also known as largest private sector bank. Mashreq Bank provides both retail and commercial services to their customers.

Mashreq provides a wide range of products and services that suits the needs of every customer. It works with an aim to provide their customers best banking experience and establish a good customer bank relationship. Mashreq Bank has marked its presence globally by starting their operations at regions like Bahrain, Egypt, Kuwait, Qatar. It also has branches in New York, Mumbai(India), London and Honk Kong.

   Get in touch with Mashreq Customer Care

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