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Thank you for providing your details.Mashreq Debt Consolidation Loan
Debt Consolidation Loan
Features
- Make Dreams into reality with no delay get Debt Consolidation Loan
- Get Lower monthly payments with more disposable income
- Get reduced interest payments and save more money
- You can enjoy low interest rates and 1st EMI deferral period of up to 90 days
Required Documents
- Valid Emirates ID
- Valid Passport with UAE residence visa page
- Employer salary transfer letter (Mashreq format) or salary certificate (for Government/Semi-Government employees)
Benefits
- Easy way to manage your payments you can enjoy the convenience of making a single consolidated payment instead of managing multiple payments
- Make an enhanced lifestyle where you can manage your loans efficiently and you can look forward to more disposable income.
- Pay less interest and do more savings where you can make savings on interest payments and by consolidating your debts
- For approved companies minimum monthly salary is AED 5,000 and for unapproved companies it is AED 10,000
- Company approval is not compulsory for employees if the loan is offered from a preapproved company.
- The employment status should be a confirmed employee or length of service should be 6 months or more from the same company.
Overview
- Mashreq Bank provides you Mashreq Debt Consolidation Loan where you can get a loan for your personal needs. You can get out of multiple loan burdens by taking advantage of Debt consolidation Loan and repay the loan. Combine all your loans into one personal loan and save interest repayment.
Frequently Asked Questions
Q. What is Mashreq Debt Consolidation Loan?
A. If you have multiple loans and different interest charges on the loans then you can take one personal loan and repay all your multiple loans. This is called debt consolidation where you can get the advantage of paying less interest rate compared to multiple loans interest.
Q. How is EMI calculated?
A. EMI is calculated on the total amount of your loan, the loan tenure, 1st due date and the annual interest rate.
Q. How much is the loan offered by Mashreq bank?
A. The loan amount depends upon various factors such as multiple loans of the applicant, credit score, repayment history and other factors. You can contact the branch manger to get the exact numbers.
Q. How is the interest earned?
A. The interest rates are competitive and are charged on reducing balance.
Q. When is the first due date of payment of loan?
A. The first due date of EMI repayment is linked to your salary credit date and should be within 90 days of the loan disbursal date.
Mashreq
Mashreq Bank is a private sector bank established in 1967. It was started by Al-Ghurair Group and it also known as largest private sector bank. Mashreq Bank provides both retail and commercial services to their customers.
Mashreq provides a wide range of products and services that suits the needs of every customer. It works with an aim to provide their customers best banking experience and establish a good customer bank relationship. Mashreq Bank has marked its presence globally by starting their operations at regions like Bahrain, Egypt, Kuwait, Qatar. It also has branches in New York, Mumbai(India), London and Honk Kong.
Get in touch with Mashreq Customer Care