Schemes For UAE Nationals and Expatriates
 

Lets get you behind the wheel of that car you’ve always wanted!

If you are a UAE Resident and with a minimum salary of AED 3,000 a month.

Mashreqbank’s MABROOK AUTO LOAN will put you in the driver’s seat fast.

With MABROOK you can get a loan to buy a new or used car or even a loan against your existing car.

.	You can finance new or used cars.
.	The interest rate, period of loan and the amount of loan installment is fixed. This helps you budget your finances better.
.	You do not have to be a customer of Mashreqbank - the loan is available for customers and non-customers, for individuals and for companies. The loan is available to all legal residents - both to UAE Nationals and expatriates.
.	Your vehicle will be mortgaged to the bank during the period of the loan as security. You do not need any guarantors for a Mabrook Loans. You don't even have to wait for a confirmation letter from your employer.
.	You are eligible even during your probationary period.
.	You have to earn a minimum monthly salary of AED 3000.
.	If you are applying on behalf of a company, the minimum turnover of the company should be AED 10,000 a month, averaged over a 3-month period.

.	Pre-approved Credit Card
.	Financing or Insurance

Repaying the loan

.	It is your choice depending on your ease of repayment.
.	Repayment period starts from 12 months and can be extended up to 60 months.

Documents required

The documents you need depend on
.	Your employment
.	Business status
.	The Emirate where the vehicle is registered

.	Borrowers can take Mabrook loans jointly.
.	Spouses, Parent/Child, can be joint borrowers. Therefore joint incomes can be taken for loan calculation. In case of UAE Nationals, brothers and sisters can also be joint borrowers.
.	One of the incomes has to be a minimum of AED 3000
.	This salary has to be transferred to an account with any bank in the UAE.

Others Schemes For UAE Nationals:    Personal Loans
Others Schemes For Expatriates:        Personal Loans