"Mashreq Slice Loan" is a Personal Loan facility offered to customers who want to avail an Education or Rent Loan payable in tranches.
You can split a loan of AED 100,000 in up to 4 slices of AED 25,000 each and decide the tranche disbursal dates. At an interest rate of 6.99% p.a. you will end up paying only AED 1,088 in total interest with a Mashreq Slice loan versus AED 3,827 with a regular loan over 12 months.
An applicable 1% Processing Fee and 1.25% Insurance Fee will apply while obtaining an Education or Rent Loan.
No, this offer is only valid on fresh Personal Loans and will not be applicable on a Top-up application.
You have tranche disbursal options i.e. single or quarterly or every 4 months, or every 6 months.
You may have a minimum of 3 months and a maximum 12 months loan tenure.
This is available under conventional loan only.
You may have a minimum loan amount of AED 15,000.
Yes, existing account holders with Mashreq and with no active Personal Loan can apply under this programme.
There are no postponements or Top up allowed under this programme.
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