Mashreq Slice Loans

Mashreq Slice Loans

Min. salary
AED 7,000
Max. Amount
AED 100,000
Effective rate
6.99%
You can slice your Education or Rent Loan and save up to 70% interest. This Personal Loan variant offers customers a tranche disbursal option by slicing equally his/her loan requirement for an Education or Rent Loan
View Summary
Salary Transfer
Required
Minimum Tenure
3 months
Maximum Tenure
12 month
Early settlement
1.00%

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Features

  • Minimum loan amount AED 15,000
  • Repayment loan tenure of minimum 3 months & up to maximum 12 months
  • Equal Tranche disbursal option available in single, quarterly, every four months or every 6 months
  • EMI Repayment as per Tranche disbursal
  • Simple documentation and application process

Documents Required

  • Valid Passport Copy with Valid residence visa for Expatriate
  • Valid Emirates ID
  • Salary Transfer Letter as per Mashreq format or salary certificate from employer or Salary certificate for Government / semi Government
  • Latest 3 months Bank statement with salary credits
  • Quotation from Education or Rental agency i.e Performa Invoice, Estimate, Rent contract.

Eligibility

  • Minimum monthly Salary Requirement starting from AED 7,000 for Approved Companies & AED 10,000 for Unapproved Companies for Expatriate and AED 10,000 for Emiratis.
  • Salary needs to be transferred to Mashreq
  • Loan amount can go up to 20 salary multiples