Mashreq instant digital loan
Mashreq Flash Cash – Eligibility & Features
Eligibility Criteria:
Minimum salary requirement: AED 5,000
Minimum age: 21 years
Applicant should have at least 1 year of credit card usage with AECB (credit bureau) history
Loan Features:
Mashreq Flash Cash is an instant digital loan designed for eligible customers who need quick access to funds. The process is simple and convenient, with no processing fee, no paperwork, and no additional documentation required. There is also no salary transfer requirement.
Eligible customers can receive up to AED 100,000, with the eligible amount credited to their account within 1 hour, subject to bank approval and eligibility. The loan amount can be converted into convenient monthly EMIs for a tenure of up to 48 months.
Interest Rates:
12 months: 0.99%
24 months: 0.79%
36 months: 0.69%
48 months: 0.59%
The customer can choose the tenure according to their preferred monthly EMI and repayment capacity.
Pre-closure:
If you choose a 48-month EMI plan, you can still decide to close the loan earlier. For example, if you take the loan and decide to pre-close it after 2 months, pre-closure is possible, subject to the applicable bank terms.
At the time of pre-closure, the applicable outstanding interest/amount + AED 100 pre-closure charge will apply. There are no other additional charges mentioned under this offer.
Overall, Mashreq Flash Cash provides eligible customers with a convenient digital borrowing option, quick access to funds, flexible repayment tenures, and the option to pre-close the facility before the selected tenure ends.