Debt Consolidation Loan for UAE Nationals
| Islamic Finance | No |
| Minimum Salary | AED N/A |
| Minimum Age | N/A years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | No |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Salaried UAE Nationals with steady income and salary transfer to a Mashreq account. |
| Minimum Loan Amount | AED 100,000.00 |
| Maximum Loan Amount | AED 1,000,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 7.49% - Reducing rate for Emiratis ranges from 5.99% to 12.99%; representative rate: 7.49%. |
| Reducing Interest Rate: | 7.49% - Fixed for the loan tenure based on a reducing balance calculation. |
| Processing Fee: | 1.05% - Processing fee of 1.05% of the loan amount (inclusive of VAT). |
| Early Settlement Fee: | 1.05% - Early settlement fee of 1.05% on the outstanding balance. |
| Late Payment Fee: | N/A |
| Insurance Fee: | N/A |
Required Documents
Emirates ID, salary certificate, bank statements, and a salary transfer letter.
Additional Benefits
Combine multiple debts into one manageable loan and save on interest repayments.
Features:
Fixed reducing balance interest rate for the life of the loan; clear, transparent terms.
General Notes
Offer subject to credit assessment and Mashreq’s terms and conditions.
