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Mashreq Bank Personal Loan for Expats

Personal Loan up to 8 times your Salary

Average Rating / 5 (ratings )

Mashreq Bank offers the most convenient personal loan for expats in order to meet planned as well as unexpected cash requirements of salaried expats working in the UAE. Offered at a reducing interest rate starting from 6.49%, Mashreq Bank personal loan comes with flexible repayment periods up to 48 months along with low processing fee. In addition to this, the bank promises to provide a personal loan within just 24 hours keeping the value of time in mind. 

Features & Benefits of Mashreq Bank Personal Loan for Expats

Feature

Availability

Salary Transfer

Required

Early settlement

Yes 1% of settlement amount

Cashback

No

Free Credit Card

Yes

Free Personalized Cheque Book

Yes

Free Insurance

Yes

Introductory Offers

No

Phone Banking

Yes

Following are some of the key features & benefits offered by Mashreq Bank Personal Loan for Expats: 

  • High Loan Amount: The borrower can avail a loan amount of a maximum of 1 Million AED. 
  • Loan Disbursal: The loan amount will get disbursed in your bank account within just 24 hours. 
  • Interest Rate: The bank offers personal loan at competitive interest rate so that the borrower can  make the repayment with ease.
  • Flexible Repayment Option: The borrower can enjoy a flexible tenor period of a maximum of 48 months.
  • Bank Account: Zero balance ‘Current Account’ for personal loans greater than or  equivalent  to 25,000 AED along with a debit card & cheque book.
  • Deferment Option: The borrower can postpone up to two loan installments in a year. 

Eligibility & Documents Required for Mashreq Bank Personal Loan for Expats

Eligibility 

Particulars

Descriptions

Minimum Monthly Income

  • 7000 AED for Approved Companies.
  • 10,000 AED for Unapproved Companies.

Other Requirement

  • Min. 6 months length of service or Confirmed with the current employer.
  • Applicant’s employer must be on the approved list of Mashreq Bank.

Documents Required

Particulars Descriptions

Proof of Identity/Address

Passport Copy with a Valid Resident Visa

Other Documents

  • Bank Statements with Salary Credits of the last 3 months
  • Salary Transfer letter or Salary Certificate for Government/ Semi- Government

Interest Rate Charged on Mashreq Bank Personal Loan for Expats

The Mashreq Bank personal loan interest rate for expatriates is from 6.49% to 31.99%. 

Frequently Asked Questions

Q.1.  Is salary transfer to Mashreq Bank mandatory to avail a personal loan? 

Ans:  Yes, it is mandatory to transfer your salary to Mashreq Bank in order to avail a personal loan for expats.

Q.2.  Do I need to provide security against Mashreq Bank personal loan? 

Ans:  No, you are not required to keep any assets as a security against a personal loan. 

Q.3.  How much loan amount can I avail? 

Ans:  You can avail a loan amount of a maximum of 20 Salary multiples, up to 1 million AED. 

Q.4.  What is the minimum & maximum repayment period for a Mashreq personal loan for expats? 

Ans:  The minimum tenor period for a personal loan is six months and the maximum tenor period is forty- eight months.

Q.5.  Can I avail loan installment deferment option? 

Ans:  Yes, you can avail two loan installment deferments every year.