Mashreq Bank is one of the well-known banks in UAE when it comes to offering efficient and convenient financial solutions to the people of UAE. The bank offers financial solutions and products such as loans, cards, insurance, accounts and other banking solutions. The bank offers almost five kinds of personal loan schemes to cater to different borrowing needs of the customers in UAE. Mashreq bank offers a special personal loan catering just to the expats residing in UAE called as Mashreq personal loan for expats. This personal loan comes at a low cost and attractive benefits for expats residing in UAE.
Features and benefits of Mashreq Personal Loan for Expats
Listed below are the features and benefits of Mashreq personal loan for expats.
- Personal loan designed specially for expats in UAE
- Offers high loan amounts up to AED 1 million
- Loan disbursal within 24 hours
- Competitive rate of interest
- Flexible repayment options
- Salary transfer required
- Minimum documentation
- Hassle free application process
- Dedicated team of customer service
- Can be applied for online
Eligibility criteria for Mashreq Personal Loan for Expats
Listed below is the eligibility criteria to avail Mashreq personal loan for expats.
- Minimum monthly salary- AED 5,000
- Salary should be transferred to Mashreq Bank to avail the loan
- Minimum service of 6 months or the applicant should be confirmed by the employer
- Loan amount up to 20 salary multiples
Fees and charges applicable on Mashreq Personal Loan for Expats
Listed below are the fees and charges applicable on Mashreq personal loan for expats.
- Processing fee- 1% of the loan amount
- Life insurance charge- 1.25% of the loan amount
- Loan top up fee- 1% of the top up loan amount
- Late payment fee- 2% of the loan amount
- Early settlement fee- 1% of the remaining balance
How to avail Mashreq Personal Loan for Expats?
The applicant can apply for the loan either through the bank’s official website if the provision is provided by the bank or through a third party financial website. One can also apply for the loan through one of the bank’s authorized branches.