Complete the application and receive an amazon voucher for AED 100
| Annual Fee | Islamic Banking | Minimum Balance | Multiple Currencies | |
|---|---|---|---|---|
Mashreq Bank - Business First
|
Annual Fee: AED 0 | Islamic Banking: No | Minimum Balance: AED 50,000 | Multiple Currencies: No |
- Dedicated Relationship Manager, FX & Trade Specialists
- Free Business Cheque Books (if requested online)
- Free Business Debit card & host of privileges
- Dedicated Online & Mobile Business Banking platform for Business entities
- Access to World currency Markets through the FX & rate service desk
- An investment platform, offering an extensive array of customized products
- Secured Business Loan against collateral in form of Term loan or mix of term loan and overdraft at competitive interest rates
- Trade finance/Working capital credit facilities with unique services like Trade doc, Pre check & Doc Prep etc.
** 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.
