If you have recently moved to the UAE or you have just changed your employer; Mashreq helps you to settle and meet your immediate personal finance needs with a Personal Loan within 24 hours at competitive rates and with a flexible repayment period.
The features and benefits include
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
Minimum monthly salary requirement starting from AED 7,000 for approved companies & AED 10,000 for unapproved companies.
Employer need not to be part of the approved list of companies with Mashreq
The loan installment along with the overall regular monthly installments should not exceed 50% of the monthly salary
Terms and conditions apply
Valid passport copy with valid residence visa for Expatriates
Valid Emirates ID
Salary Transfer Letter from employer as per Mashreq format or salary certificate for Government / semi Government
Latest 3 months Bank statement with salary credits Terms & conditions appl
you can use proceeds of a Mashreq Personal Loan for all your planned and unexpected needs: For example:
Consolidate debts, such as combining multiple credit cards or other debts into one loan
Plan a vacation with family / friends
Renovate your home
Plan that grand wedding
Fund self / child’s education needs
Attend to medical needs
Invest in lucrative opportunities
Property purchase in your Home Country / Overseas*
* As per the UAE Central Bank Guidelines, if a customer is availing a home loan in the UAE, for a UAE property, the customer cannot avail a Personal Loan to fund the down payment of the property purchase.
Yes, to get a Personal Loan for Expatriate, you need to transfer your salary to Mashreq.
No, you don't need to keep any assets as a security against your loan.
If your length of service with your current employer is less than 6 months or you have recently moved to the UAE you can avail under New to UAE or New to Employer.
The upfront costs related to a Personal Loan are processing fees and an insurance fee as per schedule of charges.
EMI (Equated Monthly Installment) is calculated based on the total amount of your loan, the loan tenure, 1st due date and the annual interest rate.
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Personal Loans for Expatriates
Mashreq Personal Loan for Expatriates meets the borrowing requirements of salaried expatriates working in the UAE.