What You Need to Know About This Loan:
- Loan Amounts Offered: Up to AED 2,000,000 (20× monthly salary)
- Loan Terms (monthly): From 6 to 48 months (up to 60 for Ministry of Defence employees)
- Payment Methods: Auto-debit via Mashreq salary transfer account
- Interest Rate: Starting at 2.99% (reducing balance basis)
Pros
- High Loan Limits: Borrow up to 20x your salary with a ceiling of AED 2M
- Low Starting Interest: Rates as low as 2.99% on reducing balance
- Fast Online Approval: Get a loan decision in as little as 5 minutes
- First EMI Deferment: Enjoy up to 90 days before your first repayment
- Zero-Balance Account: Get a current account, debit card, and cheque book for loans over AED 25,000
Cons
- Salary Transfer Required: You must transfer your salary to Mashreq
- Not for New Employees: Must be confirmed or at least 6 months in current job
Why Choose Mashreq Personal Loan for Existing Customers?
Compared to Emirates NBD’s personal loan, Mashreq offers lower starting interest rates (2.99% vs. 4.49%) and quicker online approval.
RAKBANK personal loans max out at AED 1.2 million, while Mashreq extends limits to AED 2 million—ideal for high-income professionals.
Abu Dhabi Islamic Bank offers deferral on first EMI for 45 days. Mashreq gives up to 90 days—more breathing room.
FAB’s loan process can require branch visits. Mashreq handles everything online—from quote to disbursement.
HSBC UAE limits maximum tenure to 36 months. Mashreq offers up to 60 months for Ministry of Defence employees, ideal for longer-term plans.
How to Apply for Your Mashreq Personal Loan
Get started with just a few clicks. Upload your Emirates ID, get an instant quote, and finalize everything online. Fast, paperless, and secure.