Take a Personal Loan from Mashreq and get a Chance to Win Big!

DUBAI, UAE - Feb. 18, 2015 - PRLog -- For those looking for a personal loan in the UAE, Mashreq Bank has just introduced their latest Personal Loan Plus Offer (http://moneycamel.com/content/personal-loans/mashreq-bank-personal-loans-expatriates) . Under this attractive promotion, customers will get a chance to win big, when they apply for and successfully get a Personal Loan from Mashreq Bank.

Through a lucky draw 15 lucky winners will win a sum equal to their respective one-month’s salaries (up to a maximum amount of AED 25,000) and 1 very lucky winner will win back the entire loan amount (up to a maximum of AED 250,000).

The offer is valid for personal finance under both, Conventional banking and Islamic banking. The minimum personal loan amount that you have to take to be eligible for the draw is AED 50,000 and both UAE Nationals & Expats are eligible to participate in the lucky draw.

The promotion is only valid for customers who are either already getting their salaries credited in one of Mashreq’s Accounts or for those who will transfer their salary relationship from other banks to Mashreq.

Here’s what you need to know about Mashreq Personal Loans:

-          • The personal loan rates start at 5.99% (reducing), for both Expats & UAE Nationals

-          • You can take a loan of up to 20 times your salary, subject to a maximum of AED 1,000,000

-         • Loan tenure ranges from 6 months (minimum) to 48 months (maximum)

-          • The total loan installments inclusive of Mashreq personal loan, should not exceed 50% of your salary

-         • A 1% processing fee applies (up to a maximum of AED 2,500), however there is a discount of 50% on this if you are a Mashreq Gold customer

-          • There is a 1% early repayment penalty (on remaining principal)

To be eligible for Personal Loan Plus from Mashreq, you have to meet the following criteria:

-          • Your monthly salary should be at least AED 5,000

-          • Your employer should be on Mashreq’s list of approved companies

-          • Your salary should be transferred to Mashreq

Along with the personal loan, you also get an option of opening a zero-balance current account with free chequebook and debit card (for loan amounts of or above AED 25,000). You can work out which personal loan is best for you, by using this Loan Comparison Tool (http://moneycamel.com/calculator/loancomparison) by MoneyCamel.

This is a limited period offer, valid till 15^th May 2015 and both the lucky draws will take place at the end of the offer period.

To apply for a Mashreq Personal Loan you will need the following documents:

-          • Passport and Residence Visa copy

-          • Emirates ID

-          • Last 3 months’ original bank statement

-          • Salary transfer letter from employer in favour of Mashreq (as per the bank’s format)