Merchant Overdraft
The Merchant Overdraft is another first from Mashreq, an unsecured overdraft designed to address your current and future business needs. The product offers the added benefit of a powerful business current account, to help maximize the value you get from our transaction banking services. At Mashreq, we believe in the value of creating and maintaining strong working relationships with our customers. We work with you to develop new and innovative solutions that help you reach your business goals faster and more effectively.
Key features of the Merchant Overdraft include
- Overdraft limits based on existing merchant business levels and volumes up to a maximum amount of AED 1 Million
- Simple application approval process for the facility with no requirements for audited financials on overdrafts of upto AED 500,000
- Pay interest only on the utilized portion of the overdraft i.e. pay as you use and avoid the high interest charges of similar loans in the market
- Get competitive pricing and rates compared to other loan products in the market
- The overdraft facility is offered in conjunction with a powerful, value added business current account which offers you facilities including Online banking, Fax banking and Phone banking
- Approval of applications is subject to Mashreqs' terms and conditions