Mashreq Bank Personal Loan

Mashreq Bank personal loans are one of the many excellent financial services the bank has been providing since its inception in 1967. The Mashreq Bank Personal Loan interest rate ranges from 5.99% to 31.99% also an attractive feature of Mashreq personal loan is that the loan amount can be repaid up to a tenor of 48 months.

Mashreq personal loan is one of the most preferred financial solutions that offer loans up to a maximum of AED 3 million for UAE nationals and AED 1 million for the expats.

List of Mashreq Bank Personal Loan Plans with Interest Rate

In order to find the Mashreq Bank personal loan interest rates and other related information, kindly consider the below table:

Mashreq Personal Loan Interest Rates
Category	Max. Loan Amount	Repayment Tenor	Interest Rate	Type of Interest
Mashreq Personal Loan for UAE Nationals	AED 3 Million	Up to 48 months	5.99% - 12.99%	Reducing
Mashreq Personal Loan for Expatriates	AED 1 Million	Up to 48 months	6.49% - 31.99%	Reducing

*Interest rates are subject to change any time. 

Mashreq Bank personal loan interest rate calculator will help you to check your monthly EMI to repay the loan amount.

Features for the Mashreq Personal Loan

Faatures	Mashreq personal loan (UAE nationals)	Mashreq personal loan (For Expatriates )
Salary Transfer	Yes	Yes
Early Settlement	Yes, 1% of the settlement amount	Yes, 1% of the settlement amount
Cashback	No	No
Free Credit Card	Yes	Yes
Free Personalized Cheque Book	Yes	Yes
Free Insurance	Yes	Yes
Introductory Offers	No	No
Phone Banking	Yes	Yes

The Mashreq personal loan offers an exciting range of benefits, which make it one of the most rewarding loans in the UAE.

• Loan Amount - The first thing applicants may notice about the Mashreq Bank personal loan is its large maximum loan amount. While the expatriates can take a maximum loan amount of AED 1 million, Emiratis can borrow up to an impressive amount of AED 3 million. 
• No Collateral - Applicants are not required to submit any form of collateral (such as a security deposit) to apply for a Mashreq bank loan. Customers may access the large Mashreq personal loan amount in a completely unsecured manner.
• Tenor - Interested applicants can apply for a Mashreq bank loan for any tenor between 6 months to 48 months. Furthermore, applicants who are employed at the Ministry of Defense may avail of these loans for a maximum tenor of 60 months.
• Quick Processing - The bank promises its applicants a simple Mashreq bank loan application process and extremely quick processing of the same. In fact, Mashreq Bank personal loan is typically disbursed within 24 hours of the application’s approval.
• Top-Up Loans - On making a certain number of loan payments, loan holders become eligible for a top-up Mashreq personal finance. Top-up loans are offered over the existing loan and for long tenors, bigger loan amounts and competitive Mashreq Bank personal loan interest rates.
• Grace Period - Customers are given up to 3 months of grace period to pay the installment. The first installment for a loan availed from Mashreq Bank can be made at any time during these 90 days.
• Deferments - Also, Mashreq Bank loan holders are offered a maximum of 2 loan deferment options in every calendar year. A loan deferment allows customers to postpone their Mashreq personal loan payment for the given month. Kindly note that Mashreq Bank personal loan deferments are subject to Mashreq’s approval.

Benefits of Mashreq Personal Loan

The loan holder for AED 25,000 or more receives the following additional benefits: 

1. Zero-balance current account
2. Cheque book
3. Debit card
4. Access to online & mobile banking services
5. Access to wide ATMs 

Mashreq Bank Personal Loan Requirements

The Mashreq Bank personal loan requirements are as follows: 

Approved Employer

Mashreq Bank personal loan applicants must be employed with any of the Mashreq Bank approved employers. Loan applicants belonging to non listed companies by Mashreq bank may be rejected or have to meet higher minimum salary requirements as per the bank’s judgment. It may also require the applicant to have at least 6 months of work experience.

Minimum Salary

The Mashreq Bank personal loan minimum salary requirement can be explained in the following way: 

1. The Mashreq Bank personal loan minimum salary requirement for expatriates with an approved employer is AED 7,000 monthly and for expatriates with an unapproved employer, it is AED 10,000
2. The Mashreq Bank personal loan minimum salary required for Emiratis is AED 10,000. 

Total Obligations

Mashreq mandates that the sum total of an applicant’s monthly obligations, including the personal loan installment and any other active loan installments, does not exceed more than half of the applicant’s monthly income.

In addition to the above-mentioned Mashreq Bank personal loan eligibility parameters, applicants may also be required to meet age criteria. 

Document Requirements to Apply for Mashreq Personal Loan

1. Personal loan application form duly filled by the This can be submitted online, along with all of the mentioned documents
2. Emirates ID
3. Passport
4. UAE residence visa (for Expats only)
5. Salary Transfer Letter (issued by the employer of the applicant)
6. Latest 3 months bank statement
7. The applicant’s family book (for Emiratis only) 

FAQs on Mashreq Bank Personal Loan