| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq Home Loans for Qatari Nationals
|
Minimum Salary: QAR 18,000 | Salary Transfer: Yes | Early Settlement Fees: No | Maximum Term: 20 Years | Flat Rate: 6.99 | Reducing Rate: 0.0 |
Home loans from Mashreq offer you simple and convenient access to a wide range of home loans in the market with high loan amounts and flexible tenors.
Mashreq Home Loans for Qatari Nationals Features:
-High Loan amounts of up to QAR 7.5 Million -Loan Tenor of up to 20 Years -Attractive fixed and variable interest rate options -Nominal processing fees and charges -Loans to Qataris & Expatriates -Pre-approval facilities to identify loan eligibility -Dedicated Mortgage Relationship Manager for your banking requirements
Eligibility:
-Minimum age - 21years -Maximum age - 65 years on maturity of loan -Minimum age - 25 years. -Maximum age - 65 years for Qatari Nationals on maturity of loan
Fee and Other charges:
-Processing fee - 1% on the approved loan amount, or maximum QAR 25,000 -Pre-approval fee - QAR 1,000 -Pre-payment fee of Nil (Zero) to 1% on the outstanding would be charged in case of early settlement from own funds -Amendment / Re-validation Fee - QAR 500 in case of amendments made after the loan is approved/booked -Property valuation fee - at your cost
Representative example:
If you borrow QAR 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 – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Mashreq Home Loans for Qatari Nationals Features:
-High Loan amounts of up to QAR 7.5 Million -Loan Tenor of up to 20 Years -Attractive fixed and variable interest rate options -Nominal processing fees and charges -Loans to Qataris & Expatriates -Pre-approval facilities to identify loan eligibility -Dedicated Mortgage Relationship Manager for your banking requirements
Eligibility:
-Minimum age - 21years -Maximum age - 65 years on maturity of loan -Minimum age - 25 years. -Maximum age - 65 years for Qatari Nationals on maturity of loan
Fee and Other charges:
-Processing fee - 1% on the approved loan amount, or maximum QAR 25,000 -Pre-approval fee - QAR 1,000 -Pre-payment fee of Nil (Zero) to 1% on the outstanding would be charged in case of early settlement from own funds -Amendment / Re-validation Fee - QAR 500 in case of amendments made after the loan is approved/booked -Property valuation fee - at your cost
Representative example:
If you borrow QAR 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 – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 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.
