Debt Consolidation Loan for Expatriates

Become debt-free faster

Lower monthly payments

More disposable income

Up to 90 days

1st EMI deferral period

Reduced interest payment

Save more money

Become debt-free faster

Discover an efficient way to repay your loans Combine your debts into one personal loan and save on interest repayments.
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Are you ready to apply?

Benefits

Manage your payments better
Enjoy the convenience of making a single consolidated payment instead of managing multiple payments
An enhanced lifestyle
By managing your loan efficiently you can look forward to more disposable income.
Less interest, more saving
Save on interest payments when you consolidate your debts
Personal Loan for Expatriates

Feel free to play around with the calculator

Loan amount

AED

AED 10,000

AED 1,500,000

Interest rate

%

2.99 %

36 %

Pay back over how many months?

months

3 months

60 months

For better decisioning you can also compare various loans

Loan Comparison Calculator
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Monthly Installment

-

Terms & condition will apply. Actual installments may differ.

The paperwork

Valid Passport with residence visa
Valid Emirates ID
Latest 3 months Bank Statements with salary credits
Employer Salary transfer letter as per Mashreq format OR Salary Cert. for Govt./ Semi Govt. employees

Eligibility

Minimum Monthly Salary
AED 7,000 (approved companies) & AED 10,000 (unapproved companies).
Company Approval Status
Not mandatory to be employed by an approved company for eligibility.
Employment Term
Minimum 6 months length of service or 'confirmed' with current employer

Transparency

Terms & Conditions of Personal Loans
To find out more, click here.
Terms & Conditions of Credit Life
To find out more, click here.
Key Facts Statement
To find out more, click here.

General questions

If you find yourself in a difficult financial situation and are trying to manage multiple payments with higher interest rates to various creditors, Mashreq could help you consolidate your debts. By combining all your debts into one personal loan, you can save on interest repayments and also benefit from having just one regular repayment to manage.

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A Debt Consolidation Loan comes with an array of features and benefits:
  • Lower monthly payments
  • Increased disposable income
  • Reduced interest payments over lifecycle
  • Higher Loan amount up to AED 1 Million
  • Deferred payment period of up to 90 days

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You can use the extra cash in hand for all your planned and unexpected needs: For example:
  • 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
  • Interim Needs
  • Property purchase in your home Country / overseas*
  • * As per the UAE Central Bank Guidelines, if a customer takes home loan in the UAE, for a UAE property, the customer cannot use a Personal Loan to fund the down payment of the property purchase.

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Yes, to obtain a Debt Consolidation Loan for Expatriates, you need to transfer your salary to Mashreq.

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If your length of service with your current employer is less than 6 months or you have recently moved to the UAE, you can get it under ‘New to UAE’ or ‘New to Employer’.

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The upfront costs related to a Debt Consolidation Loan are Processing fees and Insurance fee as per schedule of charges

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Our interest rates are competitive and are charged on a reducing balance. To find out more about this, please get in touch with our Bank representative

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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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With a Mashreq Debt Consolidation Loan for Expatriates, you can enjoy following additional benefits:
  • Zero balance current account for personal loans greater than or equal to AED 25,000 along with a Cheque Book facility and a Debit card
  • Access to a wide ATM and Branch network
  • Access to award winning Online and Mobile Banking services
  • Bundled propositions and special campaigns
  • Instalment deferment option

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The 1st due date of EMI repayment is linked to your salary credit date and should be within 90 days of the loan disbursal date.

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