Mashreq New to UAE or New to Employer Personal Loan

Mashreq Bank is among the best performing banks in the Middle East region in terms of a range of exceptional financial solutions. With over five decades of experience in the field, Mashreq Bank emphasises innovation and transparency in its various unique products, with the Mashreq New to UAE or New to Employer Personal Loan being one such offering. 

This type of personal loan in UAE is specifically designed to help newcomers in the county or individuals at a new job fulfil their personal financial needs. Keep reading to find out all the relevant facts about this Mashreq personal loan.

Mashreq New to UAE or New to Employer Personal Loan

• Minimum Salary AED 7,000
• Monthly Payment 2262
• Flat Rate 4.1%
• Reducing Rate 7.38%

• No Salary Transfer
• Islamic Finance
• Free Bank Account
• Credit Card

 

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Features of Mashreq New to UAE or New to Employer Personal Loan 

With this Mashreq personal loan coming with an array of benefits, let’s have a look at some of the salient ones: 

1. Easy Approval  - Getting your loan approved is a straightforward process with Mashreq. Moreover, there is no compulsion of employment only in an approved company to qualify for Mashreq new to UAE/ new to employer loan. Thus, you can get your loan approved within one day with minimal documentation. 
2. Comfortable Loan Repayment  - When you opt for a Mashreq bank personal loan, you get the luxury of choosing a loan term as per your choice. Depending on your preference and requirements, you can select any loan tenure of up to 4 years (48 months) for this Mashreq personal loan. For the Defence Ministry Employees, Mashreq bank provides the choice of a loan term of up to 5 years.
3. Minimum Salary Requirements - Settling in a foreign country or a new job often brings extra financial pressure. Taking note of this, the Mashreq Bank ensures that one can apply for this Mashreq personal loan in UAE by fulfilling low minimum salary criteria. Thus, anyone who is looking for financial assistance at manageable salary requirements can apply for this personal loan in UAE.
4. Adequate financing - Mashreq Bank New to UAE or New to Employer Personal Loan offers versatile financing options for various needs, with the loan amount of up to AED 150,000 helping users settle in the new country or new job quickly. The best part? This loan amount can be obtained without providing any collateral.

Interest Rates for Mashreq New to UAE or New to Employer Personal Loan

The interest/profit rates for Mashreq personal loans in UAE are competitive and among the most economical ones in the country. Refer to the table below to check the current rates for Mashreq New to UAE or New to Employer Personal Loan:

Salary Requirement for Mashreq New to UAE or New to Employer Personal Loan

The minimum income requirement is a crucial factor considered by banks while lending you a loan. For Mashreq Bank personal loan, the income requirement is:

Eligibility Criteria for Mashreq New to UAE or New to Employer Personal Loan

If you are interested in applying for Mashreq New to UAE or New to Employer Personal loan, take note of the following eligibility requirements:

*The maximum age requirement may vary as per several individual factors

Documents Required for Mashreq New to UAE or New to Employer Personal Loan 

Here is the list of documents you would need to keep ready when you apply for a Mashreq personal loan: 

• Past three month's bank account statements showing salary credits
• Salary certificate for government or semi-government employees
• Salary transfer letter as per the Mashreq format (private organisation employees)
• Valid Emirates ID (nationals)
• Copy of Passport and residential Visa (Ex-pats)

How to Apply for Mashreq New to UAE or New to Employer Personal Loan?

While getting a personal loan can be of great help, visiting the bank in person may consume a significant part of your time. In cases like these, online platforms like Policybazaar UAE can be excellent choices for saving time and getting the best loan rates. 

To get the best-priced personal loan in UAE without going anywhere outside, follow the given steps:

• Step 1 - Visit policybazaar.ae, the official PolicyBazaar UAE website. You will find ‘Personal Loans in UAE’ under the drop-down menu of the "Banking Products".
• Step 2 - In the personal loan section, a preliminary e-form will await you. Fill in all the personal details as asked in the e-form and click on "Proceed".
• Step 3 - By clicking on "Proceed", you would be directed to the personal loans section with the best loan options from different banks in the UAE. You can choose any one out of them (like the Mashreq Bank personal loan, in this case). Once you find your plan, carefully read the features and compare them with those of other plans. 
• Step 4 - If you find the personal loan quotation from this Mashreq personal loan in UAE suitable, you can click on "Apply" and provide relevant details. PolicyBazaar UAE will contact you to guide you further to get the Mashreq Bank personal loan easily.

The same can be done from the official Mashreq Bank website. One can visit the Mashreq website, and look for ‘personal loans’ under the drop-down menu of ‘Loans’. After viewing the available options, one can select a plan of their choice, click on ‘Apply Now, and complete the procedure by filling out the application form with relevant details.

An individual can also visit a Mashreq bank branch, obtain an application form, and submit it after filling it out along with the required documents to complete the process. However, the online mode of application is more convenient, where the whole process can be completed in just a few taps or clicks of your device. Moreover, with Policybazaar UAE, you will be able to check out the best plans for a personal loan in UAE in one place. On our website, you can compare, explore, and purchase the plan of your choice effortlessly!

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