Debt Consolidation Loan for Expats
| Islamic Finance | No |
| Minimum Salary | AED N/A |
| Minimum Age | N/A years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | No |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Employed expats with a valid residence visa and mandatory salary transfer. |
| Minimum Loan Amount | AED 100,000.00 |
| Maximum Loan Amount | AED 800,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 10.49% - Reducing rate for expats ranges from 5.99% to 31.99%; representative rate: 10.49%. |
| Reducing Interest Rate: | 10.49% - Reducing balance rate based on credit profile. |
| Processing Fee: | 1.05% - Processing fee of 1.05% of the loan amount. |
| Early Settlement Fee: | 1.05% - Early settlement fee of 1.05% on outstanding balance. |
| Late Payment Fee: | N/A |
| Insurance Fee: | N/A |
Required Documents
Passport, residence visa, salary certificate, bank statements, and a salary transfer letter.
Additional Benefits
Consolidate your debts into one single loan with potential savings on interest.
Features:
Flexible reducing balance interest rate; competitive processing fee; mandatory salary transfer.
General Notes
Offer subject to eligibility, credit assessment, and Mashreq’s standard terms and conditions.
