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Mashreq Bank Home Loan for Non Residents

Mashreq Bank Home Loan for Non Residents
Minimum Salary

25,000 AED

Flat Rate

4.29 %

Reducing Rate

6.75%

Max. Term

25 Years

Salary Transfer

No

Islamic Finance

No

Description

Enjoy a wide range of Non-Resident home loan solutions and discover the best range of house finance options guided by best mortgage experts.

Major Advantage: Fixed rate options also available, Free partial settlement up to 25% 

Rate Card

Reducing Balance Rate

  Fixed Rate
For Non-Resident Clients 6.79% fixed for 3 years

 

* Kindly fill the form to know the detailed rates with quotation as per your working profile. 

Features

Interest Rates & Charges:

Reducing Rate (as advertised): 6.75%

Flat Rate: 4.29% p.a.

Pre-Approval Fees: 1,050

Processing Fees: 1% of finance amount + Vat

Early Settlement Fees: 1% of outstanding amount (max cap AED 10,000)

Partial Settlement Fees: No penatly up to 25% of outstanding amount (once a year)

 

Requirements:

Minimum Average Balance Requirement: AED 25,000 balance in Personal account

Minimum Down payment Required: 50%

 

Key Details:

Maximum Finance Amount: AED 10,000,000          

Islamic Finance: Yes, available

Maximum Term: 25 Years

Finance available for: Ready properties in Dubai, Abu Dhabi

 

Insurance (Compulsory):

Life Insurance: 0.165% p.a.

Property Insurance: 0.06% p.a.

Documents Required

Common Documents:

  • Valid Passport, Resident Visa and National ID Copy.
  • Property Documents (If Property is Finalized or Equity Release).
  • Relevant property documents.

 

Salaried Client Documents:

  • Latest 3 Months Personal Bank Statement.
  • Income Source Proof.

 

Self-Employed Client Documents:

  • Valid Trade Company license.
  • Latest 3 Months Personal Bank Statement. 
Additional Info
  • All info mentioned can change at any point of time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Reducing rate is converted into flat rate as per 25 years calculation.
  • Terms and conditions apply.
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Mashreq Bank

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