Whether you are looking for a new or a pre-owned vehicle, buying from a dealer or a private seller or refinancing your existing car Mashreq offers quick financing solutions with competitive rates and streamlined approval processes.
Mashreq Car Loan features:
• Competitive interest rates starting at 2.35% p.a. flat, reducing Rate Starting at 4.31% p.a.
• Choice of Islamic or conventional car financing
• High loan amount Maximum Loan of up to AED 500,000
• Flexible repayment options 12-60 month repayment periods on new and used cars
• Funding for new & pre-owned cars
• Refinancing of an existing car
• Repayment tenure of up to 60 months
• Loan to value for up to 80% of car value
• No salary transfer required
• Processing fee is 1% of the loan amount, with minimum AED 500 and maximum AED 2500
Additional Benefits:
• Quick & easy processing
• Special rates on vehicle insurance
• Free current account with no minimum balance
• Free for first year overdraft facility of up to AED 100,000
• Free for first year platinum elite credit card
• 45,000 Salam points per AED 100,000 worth of loan
Eligibility:
• Minimum Income of AED 5,000
• For Salaried Customers - Minimum Age 21 years - Maximum Age 60 years on the maturity of the loan for Expatriates & 65 years for UAE locals
• For Self Employed Customers - Minimum Age 21 years -Maximum Age 65 years on maturity of loan
Documents Required:
Salaried:
• Application form
• Valid Passport with residence visa page for Expatriates
• Driving License
• Salary Certificate / Salary Transfer letter (Issued in last 30 days)
• Latest 3 months bank statement (Mashreq a/c not required)
• Ownership Document & Evaluation certificate for used cars purchased from Non approved dealership or Individual
Self Employed:
• Application form
• Valid Passport with residence visa page for expatriates
• Driving license
• Trade license copy
• Power of attorney (POA), in case of LLC – Memorandum of Association (MOA) or Article of Association, Partnership agreement
• Latest 3 months bank statement (Mashreq a/c not required)
• Ownership Document & Evaluation certificate for used cars purchased from Non approved dealership or Individual
Companies:
• Application form
• All partners valid passport with residence visa page for expatriates
• Trade license copy
• Power of attorney (POA), In case of LLC – Memorandum of Association (MOA) or Article of Association, Partnership agreement
• Latest 3 months bank statement (Mashreq a/c not required)
• Ownership Document & Evaluation certificate for used cars purchased from Non approved dealership or Individual
EPP Tenor : 3, 6, 9 or 12 Months
Joyalukkas
Free dessert on a minimum spend of every AED 50
Calicut Notebook
EPP Tenor : 3, 6, 9 or 12 Months
Cruise Master
Use your ADCB Credit Card at LifeStyle Fine Jewelry and enjoy a 0% Interest Payment Plan.
LifeStyle Fine Jewelry
Avail 0% installment plan for 3, 6, 9 and 12 months on your purchases.
Jarir Bookstore
If you are interested in any of our products and services and would like a member of our sales team to get in touch with you