No processing fees
No insurance fees
Up to 90 days
1st EMI deferral period
Instant Approval
In principle
Fulfill your dreams back home
Mashreq’s Personal Loan Remit allows you to transfer funds in a single transaction. Ideal for buying a new property or renovating an old one and there’ll be no fees or charges from us.
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Benefits
Remit Easily
Conveniently remit to any bank account or beneficiary in your home country.
Flexible repayment period
Repayment Tenure up to 48 months (60 months for Ministry of Defence employees).
Select what suits you
Islamic finance options are also available.
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 the 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.
Fees & Charges
To find out more, click here.
Key Facts Statement
To find out more, click here.
General questions
- Mashreq Personal Loan Remit is a bundled facility offered only to those customers who want a loan from Mashreq and transfer the funds to their home countries or to international destinations, for Investment or any other purpose.
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- There will not be any charges (Processing Fee and Insurance fee will be waived) on your Personal Loan, if the entire loan amount is transferred with Mashreq to a destination outside the United Arab Emirates. Remittance fee charged by Mashreq Bank will be waived-off. However applicable correspondent Banks’ charges will apply.
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- No, this offer is only valid on fresh Personal Loans and will not be applicable on buy-out or top-up cases.
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- In order to be eligible for Personal Loan Remit benefits, you need to transfer the entire loan amount.
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- Yes, existing account holders with Mashreq and with no active Personal Loan can apply under this programme.
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- Foreign currency rates decided by Mashreq on the day of transfer will be applied. Once your Loan is approved, you will be called by a Mashreq representative to confirm the exchange rates before transferring the funds
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- In case of disagreement on the exchange rates, you will be given an option to continue the loan by paying all the applicable charges (Processing fee and insurance charges) or to cancel the loan.
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- To apply for a Personal Loan Remit, you can visit any Mashreq Branch, apply online or call us on +9714-424-4444 or +09712-627-4737. You can also send a SMS “PLRM” to 4250 to have our representative get in touch with you.
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- In order to apply for Personal Loan Remit, you need to provide standardised Personal Loan documentation and required Fund Transfer details.
- 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 Governmen
- Latest 3 months Bank statements with salary credits Terms & conditions apply
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- 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 instalments should not exceed 50% of the monthly salary Terms and conditions apply
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