| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq Bank Majestic personal loan
|
Minimum Salary: QAR 5,000 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 3.2% | Reducing Rate: 5.99% |
Apply for a loan of up to 400.000 QAR and Get a guaranteed ipad mini 3
Mashreq Bank Majestic personal loan Features:
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 Bank Majestic personal loan Features:
- Loans of up to QAR 400,000 For expatriates and QAR 2 million for Qataris (expatriates working for a government may get up to QAR 1 million)
- Platinum Elite Credit Card with great benefits: Cash advance facility, easy cash, gift vouchers worth QAR 5,000, free automobile assistance, Al Maha access at Hamad Airport and much more
- Free overdraft / salary advance facility
- Free online remittances and cash withdrawals
- Salaam Reward points that let you shop for free at leading partners like Sharaf DG, Homes R Us, StarLinks, Joyalukas and many more
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.
