Emirati Personal Loan for pensioners

Emirati Personal Loan for pensioners

Min. salary
AED 10,000
Max. Amount
AED 3,000,000
Effective rate
6.25%
Our Personal Loans for Emiratis offer high loan limits at attractive interest rates, and cater to the financial needs of a wide range of UAE professionals at convenient repayment options.
View Summary
Salary Transfer
Required
Minimum Tenure
6 months
Maximum Tenure
48 month
Early settlement
1.00%

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Features

  • High loan amounts of up to 20 salary multiples, max AED 3 million
  • Competitive rates of interest
  • Comfortable repayment loan tenure of up to 48 months (except for employees of Ministry of Defense where maximum tenor is up to 60 months)
  • Exciting bundled offers available with extra benefits
  • Simple documentation and quick processing
  • Top-up facility available for existing loan customers
  • Islamic finance option is available

Documents Required

  • Copy of Passport
  • Copy of valid Emirates ID
  • Salary Transfer Letter from employer as per Mashreq format
  • Last 3 months bank statement
  • Personal Loan Application Form – “will be provided by Mashreq”
  • Copy of family book

Eligibility

  • Minimum monthly salary of AED 10,000
  • Salary needs to be transferred to Mashreq
  • Employer needs to be part of the approved list of companies with Mashreq
  • The loan installment along with the overall regular monthly installments should not exceed 50% of the monthly salary