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| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq Bank - Personal Loan For Expatriates
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Minimum Salary: AED 7,000 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 4 Years | Flat Rate: 14.12% | Reducing Rate: - |
Mashreq Personal Loan for Expatriates is designed to meet the planned and unexpected borrowing requirements of salaried expatriates working in the UAE. Understanding the importance of your time, we aim to provide a Personal Loan within 24 hours with a host of other benefits.
Features
- High Loan Amount of up AED 1M
- Loan disbursals within 24 hours
- Competitive Interest Rates
- Flexible repayment period
Documents Required
- Valid Passport Copy with Valid residence visa for Expatriates
- Valid Emirates ID
- Salary Transfer Letter from employer as per Mashreq format or Salary certificate for Government / semi Government
- Latest 3 months Bank statement with salary credits
Eligibility
- Minimum monthly salary requirement starting from AED 7,000 for Approved Companies & AED 10,000 for Unapproved Companies
- Employer need not to be part of the approved list of companies with Mashreq
- Minimum 6 months length of service OR 'Confirmed' with the current employer
- Loan amount can go up to 20 salary multiples
** 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
