Mashreq bank offers different kinds of personal loan to suit the financial needs of different categories of the society. The bank has custom designed personal loans for expats, self-employed individuals and UAE nationals. The bank offers a special loan tailor made to suit the borrowing needs of self employed individuals in UAE, the loan comes with special pricing and a wide range of benefits.
Features and benefits of Mashreq Self Employed Personal Loan
Listed below are the features and benefits of Mashreq Bank Self Employed personal loan.
- Specially designed for self-employed individuals in UAE
- Offers easy installment repayment options
- Speedy processing
- Quick approval
- Competitive rate of interest
- All kinds of small business entities are eligible
- Hassle free application process
- High loan amounts up to AED 750,000
- Tenure periods up to 48 months
- Flexible and efficient repayment modes available
- Can be applied for online
Eligibility criteria for Mashreq Self Employed Personal Loan
Listed below is the eligibility criteria to avail Mashreq Bank Self Employed personal loan.
- The applicant should have owned the business for a minimum of two years
- Should have an annual turnover of AED 360,000
- Annual business turnover of AED 1.5 million
Fees and charges for Mashreq Self Employed Personal Loan
Listed below are the fees and charges applicable on Mashreq Bank Self Employed personal loan.
- 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 Self Employed Personal Loan?
There are two ways in which one can avail Mashreq Self Employed Personal Loan.
- Online- One can apply for the loan online through the bank’s official website or through a third party financial website.
- Offline-One can also apply for the loan through one of the bank’s branches.