Mashreq Bank Personal Loan for Expats

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.