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Mashreq Emirati Personal loan for Pensioners
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
Emirati Personal loan for Pensioners
- 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
- 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 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