Personal Loans for Expatriates FAQ
How much can I borrow?
A maximum limit of upto AED 250,000. Plus once the loan is approved, you’ll also be pre-approved for a credit card for the life of the loan.
What interest rates do I pay?
Our interest rates are charged on a reducing balance. The interest rates are extremely attractive and competitive and are dependent on the amount you borrow and the period over which you wish to repay
What kind of collaterals do I need?
You do not need any collateral or guarantors. You don't even have to wait for a confirmation letter from your employer. You are eligible even during your probationary period.
Do I get any special benefits?
You automatically get a host of free benefits:
- Current account
- Cheque book
- Electron ATM / debit card - accepted worldwide
- Access to 50+ branches open from 8.00am - 4.00pm
- 24 hour telephone banking
- Access to ATM's across the UAE
How long do I have to repay my loan?
From 6 months to a maximum of 72 months, depending on your choice, eligibility and ease of repayment. You can arrange up to a 3 month deferment of your first repayment. You can also postpone installment payments (subject to conditions) which will increase the period of the loan.
Who is eligible for a Personal Loans for Expatriates?
UAE resident expatriates working for government /semi government companies and UAE resident expatriates working for employers on Mashreqs' list of approved companies.
What is the minimum Personal Loans for Expatriates loan amount?
AED 15000.
What is the minimum salary required to get a loan?
AED3000. If your company is a ‘select employer’, the minimum salary requirement is less. To check call 04-2174800.
Can loans be given to unconfirmed employees?
Yes, however some conditions apply. To check if you’re eligible under the ‘unconfirmed employees scheme’ call +971 4 424 4444.
What documents do I need?
Salary Transfer Certificate, a copy of your Passport with a Valid Resident Visa and three months of bank statements showing regular salary credits.
When can I postpone my loan installment?
You can postpone two loan installment payments, in a 12-month period. You can postpone one installment after you have made 6 payments after receiving the loan.
When can I apply for a top-up loan?
If you have used your maximum loan amount you can top-up your loan after paying nine instalments.