Complete the application and receive an amazon voucher for AED 100
| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Mashreq New to UAE or New to Employer Personal Loan
|
Minimum Salary: AED 7,000 | Salary Transfer: No | Islamic Finance: Yes | Maximum Term: 4 Years | Flat Rate: 4.1% | Reducing Rate: 7.38% |
Features
- Loan amounts of up to AED 150,000
- Competitive rate of interest
- Comfortable repayment loan tenure of up to 48 months
- Exciting bundled offers available with extra benefits
- Simple documentation and quick processing
- Islamic finance option is available
Documents Required
- Valid Passport Copy with Valid residence visa for Expatriate
- Valid Emirates ID
- Salary Transfer Letter from employer as per Mashreq format or Salary certificate for Govt/semi govt
- Available Bank Statement or Latest 3 months Bank statement with salary credits
Eligibility
- Minimum monthly salary requirement starting AED 7,000 for Approved Companies & AED 10,000 for Unapproved Companies.
- Salary needs to be transferred to Mashreq
- The loan installment along with the overall regular monthly installments should not exceed 50% of the monthly salary
** 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
