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Mashreq Personal Loans for Emiratis Long Term & Debt Consolidation Summary | |
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Minimum Salary Required |
AED 10,000 |
Salary Transfer Required |
Yes |
Debt to Income Ratio |
Maximum 50% of the monthly salary |
Maximum Loan Repayment Tenure |
300 months |
Maximum Loan Amount |
AED 5 million |
Apply for Mashreq Personal Loans for Emiratis Long Term & Debt Consolidation |
Owing to various requirements over time, an individual may have different loans at any instant. However, this can lead to debts at different interest rates, which can become difficult to manage and repay. In such cases, a personal loan in UAE can be utilised, with a great option for the same being Mashreq Bank personal loan for Emiratis long term and debt consolidation.
In a debt consolidation loan, an individual can borrow a personal loan in UAE to repay their existing debts from other sources. Thus, instead of clearing off multiple loans, one can go for debt consolidation and repay only a single loan at lower interest/profit rates.
Mashreq Bank, among the most eminent banks in the UAE, offers excellent personal loan plans at low interest rates and long repayment tenures. Using such Mashreq personal loans, one can easily opt for long-term debt consolidation loans and clear out their debt burden.
Given below are the eligibility criteria for this Mashreq Bank personal loan in UAE for debt consolidation as specified by the bank.:
Salary Required | At least AED 10,000 per month |
Salary Transfer Required |
Yes |
Company Approval Status |
The company where the applicant is working should be included in the list of the companies approved by the bank |
To apply for a Mashreq Bank personal loan for long term and debt consolidation, an applicant needs to produce the following documents as required by the bank at the time of applying:
Note: The list of required documents can vary depending upon the person and the loan amount they opt for.
Before starting your planning to apply for Mashreq Bank personal loan for long term and debt consolidation, wait a moment and check out the application procedure so that you don't face any problems while applying for the loan.
There are two ways to apply for a Mashreq personal loan in UAE. The first mode consists of applying through the bank's official website or by visiting the nearest branch of Mashreq Bank. In this case, the applicant must request an application form for Mashreq Bank personal loans for Emiratis long term and debt consolidation at one of the branches or download it from the official Mashreq website. After filling out that form, submitting the required documents, and paying the required application fees, the applicant will be contacted by the bank to discuss the remaining procedures.
Another popular way of applying for a Mashreq Bank personal loan is through the Policybazaar UAE website. Given below is the procedure for the same:
Once you provide all the required details and submit your application, a Policybazaar UAE executive will soon connect with you.
A long-term debt consolidation loan is borrowed with an aim of clearing out all the existing debts of an individual. This loan allows the use of debt consolidation amounts to repay all the debts and repay the loan amount at affordable interest rates over a long time.
No, there is no need to provide security against debt consolidation loans with Mashreq Bank.
On the official website, you can click on the ‘branch locator’ under the section ‘ATM & Branches’. Here, you can easily locate the nearest Mashreq Bank branch.
No. For these long-term debt consolidation loans, Islamic Finance is not available.
Here are the major benefits of long term and debt consolidation loans: