| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq Bank Personal Loan
|
Minimum Salary: BHD 300 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 7 Years | Flat Rate: 3.5% | Reducing Rate: 6.3% |
Personal Loans from Mashreq are designed specifically with the objective of helping expatriates borrow wisely. Tailored to meet the needs of individual customers, their focus is on making the repayment process as simple as possible.
At Mashreq, they do not put restrictions on how you utilize your loans. Whether you are looking to buy a house in your home country, educate your children or to take a vacation, the choice is yours.
Mashreq Bank Personal Loan Features:
Representative example:
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
At Mashreq, they do not put restrictions on how you utilize your loans. Whether you are looking to buy a house in your home country, educate your children or to take a vacation, the choice is yours.
Mashreq Bank Personal Loan Features:
- Maximum term for Bahrainis is up to 84 months and for expatriates is 60 months
- Maximum loan amount is up to BHD 60,000 for Bahrainis and expatriates
- Competitive rate of interest
- Hassle free and smooth processing
- Free cheque book and debit card
- Top-up facility is available
Representative example:
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
