Finance House Personal Loan Eligibility - Check out the Eligibility Criteria for Finance House Personal Loan in UAE like Minimum Salary, Age, Document Required, Nationality, Salary Transfer & More.
With a Mashreq Bank personal loan, you can easily manage your finances. With competitive interest rates, flexible repayment terms, and no hidden charges, it is an ideal solution for those looking to finance major purchases or consolidate debt. You can also enjoy additional benefits such as free travel insurance and complimentary access to airport lounges with certain loan packages.read more
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Get personal loan at Lowest Interest Rate
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.
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.
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.
The loan holder for AED 25,000 or more receives the following additional benefits:
The Mashreq Bank personal loan requirements are as follows:
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.
The Mashreq Bank personal loan minimum salary requirement can be explained in the following way:
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.
Ans: No, applicants cannot avail of a personal loan without a salary transfer. Applicants will also be required to submit a salary transfer letter, which can be obtained from their employer.
Ans: While there is no specific Mashreq Bank Personal Loan calculator, applicants can use any Generic online personal loan calculator to estimate their monthly obligation. Mashreq's personal loan Calculations for EMI are done based on the total approved loan amount, the tenor of the loan and the applicable Mashreq Bank personal loan interest rates.
Ans: A top-up loan is offered to existing loan holders only. It extends the total borrowed amount and tenor of the existing Mashreq loan. Top-up loans can be availed by customers that maintain on-time payments and have already paid a certain number of installments as determined by the bank.
Ans: There are separate terms for expatriates and for newly employed applicants when it comes to availing loan from the bank. These allow applicants with less than 6 months of work experience to apply for a loan.
Ans: You will have to bear processing fees and insurance fees to avail of a Mashreq personal finance. Fortunately, these are minimal charges that range between 1% and 1.5% of the total Mashreq personal loan amount.
Ans: Mashreq personal loan minimum salary requirement is:
Ans: Mashreq Loan calculator is helpful in estimating an EMI amount to be paid against a loan. It calculates the EMI based on the information provided by the loan seeker.