Service Charges for Loans
Loans & OverDrafts
| Loans | Personal Loans | Home Loans | Car Loans |
|---|---|---|---|
| Rate of Interest | Interest Rates linked to Mashreq Prime Rate (MPR) * | ||
| Processing Fee | 1% of the loan amount | Up to 1% of loan amount | 1% of the loan amount |
| Minimum | AED 500 | AED 500 | |
| Maximum | AED 2500 | AED 2500 | |
| Life Insurance Charges | 1.25% of the loan amount | Subject to market condition | N/A |
| Loan top up fee | 1% of the top up amount | N/A | N/A |
| Minimum | AED 500 | N/A | N/A |
| Maximum | AED 2500 | N/A | N/A |
| Postponement Fee | AED 100 per postponement | N/A | AED 100 per postponement |
| Late Payment Fee | 2% of the delayed amount | 2% of the delayed amount | |
| Minimum | AED 50 | Subject to offer | AED 50 |
| Maximum | AED 200 | Subject to offer | AED 200 |
| Early Settlement Fee | |||
| Through other Banks | 1% from remaining balance | Subject to the offer with a max of 3% of the outstanding amount | 1% from remaining balance |
| For repeat Loan | 1% from remaining balance | N/A | N/A |
| Through own Sources | 1% from remaining balance | Subject to the offer with a max of 2% of the outstanding amount | 1% from remaining balance |
| Re-validation Fee | N/A | AED 500 | N/A |
| Property Evaluation Fee | N/A | AED 2500 | N/A |
| Pre-approval Charges | N/A | AED 1000 | N/A |
| Temporary/Permanent Release / Clearance Letter | N/A | N/A | Nil |
| Liability Letter addressed to other Bank | AED 100 | AED 500 | AED 100 |
| Change of Number Plate | N/A | N/A | NIL (security deposit of AED 200 for individuals & AED 500 for companies) |
| Change of due date on standing instruction | Nil | Nil | AED 25 |
| Change of PDC / Recovery Account | Nil | N/A | Nil |
| Loan rescheduling fee | AED 250 | N/A | AED 250 |
| Loan cancelation fee | AED 100 | N/A | AED 100 |
| Other certificate | Nil | N/A | Nil |
Click here for current MPR.
IPO Financing
| Subscription / Interest Rates | The charges applicable are subject to market conditions and may change without prior notice |
| Leverage Multiples | Mashreq offers up to five multiples for IPO Financing |
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