Mashreq Bank Top-up Loan For Existing Customers Apply Now

Dubai UAE: If you are an existing customer of Mashreq Bank and you suddenly need money, then Mashreq Bank’s top-up loan can be a good option for you. Mashreq Bank Top-up Loan can be availed with an easy and fast process, this loan provides you the facility to increase your existing loan limit. Through this you can turn your dreams into reality and fulfill your financial needs without any delay. 

In this article, we will tell you how to get a top-up loan from Mashreq Bank and what are the eligibility criteria for it, what documents will be required and what benefits you will get here, everything will be told here, that is why you will read our article. Stay here with us till the end.

Information about Mashreq Bank Top-up Loan

You can get Mashreq Bank top-up loan approval online in just 5 minutes. Additionally, you can get a loan up to 20 times your salary, up to a maximum of AED 1 million.

The interest rates on this loan are also quite low, and you can get up to 90 days to pay the first EMI. With the help of this loan, you can meet your sudden needs without any delay.

Key Points 

Here are the 6 most important points about Mashreq Bank top-up loan:

1. Loan applications can be approved online in just 5 minutes.

2. You can get a loan up to 20 times your salary, up to a maximum of AED 1,000,000.

3. The interest rates on the loan are low and the payment of the first EMI can be deferred for up to 90 days.

4. The minimum monthly salary is AED 5,000 (for approved companies) or AED 10,000 (for unapproved companies), and you must already have an active loan at Mashreq Bank.

5. Valid Emirates ID, pay slip, and bank statement are required.

6.  The top-up loan tenure is a maximum of 48 months, and the processing fee is 1.05% of the loan amount.

Mashreq Bank Top-up Loan Overview

Mashreq Bank Top-up Loan is a special facility for existing customers, which allows them to increase their existing loan limit. This loan helps you meet sudden financial needs. The complete overview of this loan is given in the table below: 

Description	Information
Loan Name	Mashreq Bank Top-up Loan
Key Features	● Online approval in 5 minutes ● Loan up to 20 times salary ● Maximum AED 1 million ● Low interest rates ● First EMI deferment up to 90 days
Benefits	● Additional funds for sudden needs ● Digital process ● Increase in existing loan limit
Application Process	● View loan offer by entering details ● Accept the offer if you like ● Submit minimum documents
Required Documents	● Valid Emirates ID ● Other required documents
Eligibility Criteria	● Approved Company: AED 5,000 ● Rejected Company: AED 10,000 ● 6 Months Tenure or Confirmed Employees
Application Methods	● Apply Now ● Call: +971 4 4244444
Method of Working	● Increasing the amount of the existing loan ● Increasing the repayment period of both the loans by one date
Eligibility Determination	● Information already available ● Salary transfer in Mashreq ● Monthly installments not exceeding 50% of salary
Loan Amount Information	● Up to 20 times the salary ● Maximum AED 1,000,000 (for expatriates) ● Loan tenure: Up to 48 months

This table gives brief and important information about Mashreq Bank Top-up Loan.

Benefits

Mashreq Bank’s top-up loan is known for its features. Here I have listed some of the benefits of this loan which are as follows: 

1. Instant online approval: Loan gets approved in just 5 minutes.

2. High loan limit: Loan up to 20 times your salary, up to a maximum of AED 1 million.

3. Low interest rates: You can avail the benefit of lower interest rates compared to other loans available in the market.

4. Due date of first EMI: There is an option to postpone the payment of first EMI by 90 days.

5. Digital Process: The entire process of application and loan approval is digital and simple.

6. Extra money for sudden needs: Sudden financial needs can be met immediately in just one click.

7. Increase in the existing loan limit: You can use the option to increase the amount of the already existing loan.

8. Minimal Documentation: The loan is directly deposited into the bank account by submitting only the required documents.

Mashreq Bank’s Top-up Loan provides a quick, convenient and beneficial financial solution for existing customers.

Eligibility Criteria for Mashreq Bank Top-up Loan

The eligibility criteria for Mashreq Bank Top-up Loan are as follows: To take the loan, you will also have to follow the terms and conditions set by the bank which are as follows: 

1. The minimum monthly salary of the applicant should be AED 5,000 in approved companies.

2. Apart from this, the minimum monthly salary of the rejected companies applicant should be AED 10,000.

3. Applicants must be a ‘confirmed’ employee or must have completed at least 6 months tenure in the current company.

4. The applicant must already have an active loan with Mashreq Bank to be eligible for the top-up loan.

5. The applicant’s salary must be transferred to Mashreq Bank. 

6. If the salary is not already transferred, it may have to be transferred for eligibility.

7. The total loan installments, including top-up loan and existing loan installments, should not exceed 50% of the monthly salary of the applicant.

8. A valid Emirates ID is required to process the loan application.

Documents required for Mashreq Bank Top-up Loan

There is no need for many documents to take Mashreq Bank Top-up Loan. This loan can be taken online only. If you have a valid Emirates ID, then you can complete the process of taking this loan.

The bank may ask for these documents as per its terms and conditions, the list of which is as follows: 

Parameter	Details
1. Valid Emirates ID	A copy of a current and valid Emirates ID is required.
2. Salary Slip	Recent salary slip confirming salary.
3. Bank Statement	Bank statement of last 3-6 months confirming salary transfer.
4. Visa with Emirates ID	If you are an expatriate, you must have a copy of a visa that matches with your Emirates ID.
5. Income Certificate	There should be a certificate of your salary and additional benefits.
6. Company Certificate	A certificate from your company confirming your job status and salary.
7. Other Documents for Loan	If any additional documents are required, then the documents directed by the bank will have to be submitted.
8. Signature of the Account Holder	Proper signature is required on the application form and related documents.
9. Proof of Address	Certificate of your current address, such as electricity bill or rent receipt.
10. Photograph	Recent passport size photograph, which proves your identity.

When you apply for a loan, you will have to enter all the information correctly. If you enter any information wrong, your loan will not be approved.

Also Read

Apply Mashreq Bank Personal Loan for Existing Customers

Mashreq Bank Top-up , Loan amount, Tenure and Interest rate

Mashreq Bank Top-up Loan can be taken with the fastest process. Here, how much loan you will get, for how long this loan can be taken, how much interest will be charged, all this is explained in the points below which are as follows: 

1. Loan Amount:

•  Loan up to 20 times your salary can be availed.
• The maximum loan amount for expatriate customers can be up to AED 1,000,000.

2. Loan Period:

•    The tenure of a top-up loan can be up to 48 months.

3. Interest Rate :

•    Interest rates are low, but the exact interest rate is determined based on your loan offer and may change depending on your eligibility and credit profile.

Mashreq Bank Top-up Loan EMI Calculator 

You can use this calculator to find out the monthly installment for your personal loan. To use this calculator, submit the loan amount, tenure, and interest rate, then click on the calculate button to get the details of your monthly installment.

Mashreq Bank Top-up Loan for Existing Customers Step-by-Step Process

If you are a customer of Mashreq Bank, then you can take a top up loan from here. You can use this loan for any of your needs. There is no restriction of any kind on this loan. The complete process of taking this loan is described below. By following which you will be able to avail this top up personal loan. 

1. Visit the Mashreq Bank Website:

• Go to the Mashreq Bank Top-up Loan for Existing Customers page.

2. Navigate to Top-up Loan Section :

• Click on the “Menu” section.
• Select “Loans”.
•  Choose “Top-up Loan”.
• Click on “Top-up Loan for Existing Customers”.

3. Start the Application Process:

• Click on “Apply now in a few clicks”.
• You will see options such as “Get your top-up loan offer” and “Upload documents”.
• Choose “Get your offer”.

4. Provide Security Details :

• Enter your mobile number (+971).
• Enter your email address and confirm it.
• Enter your Seller ID if applicable.
• (Optional) Tick the box to receive SMS updates about promotions or offers.
• Click on the option to continue and agree to be contacted for completing the application.

5. Emirates ID Details:

• Upload the front side and back side of your Emirates ID.

6. Identity Verification:

• Allow permission for the camera.
• Take a selfie for verification purposes.

7. Consent :

• Read and agree to all terms and conditions.
• Provide your consent to proceed.

8. Review Personal Details:

• Verify and enter your personal details as required.

9. Review Employment Details:

• Confirm your employment status and details as required.

10. Review and Accept Offer:

• Review the top-up loan offer provided.
• Accept the offer if you agree to the terms.

11. Next Steps:

• Follow any additional instructions or provide further documentation as requested by Mashreq Bank.
• Complete the application process as per the bank’s guidance.

This step-by-step guide helps you navigate the process for applying for a Mashreq Bank Top-up Loan if you are an existing customer.

Things to keep in mind while taking Mashreq Bank Top-up Loan

• First of all, get information about processing fees, loan top-up fees, and other charges.

• Take into account insurance premiums and other additional charges.

• Keep in mind other financial obligations along with the loan so that you can make all the payments on time.

• Fully understand the terms and conditions of the loan, and seek clarification from the bank in case of any doubt.

• Make sure that you are able to repay the loan installments, and your monthly installments should not exceed 50% of your income.

• Do not forget to know and calculate the interest rate.

• Also check the minimum loan amount and maximum loan amount available at your place.

• It is also important to know how much time is being given to deposit this loan.

If you understand the loan terms and charges properly and have the repayment capacity, then a top-up loan from Mashreq Bank can be a good option for you.

Frequently Asked Questions (FAQ) Mashreq Bank Top-up Loan

Conclusion

Mashreq Bank’s Top-up Loan is a convenient and beneficial option for existing customers. This loan provides the facility to increase the existing loan limit, allowing you to meet your financial needs faster. 

Key features of this loan include instant online approval, loan amount up to 20 times the salary, low interest rates, and EMI moratorium of up to 90 days. 

Overall, if you are an existing customer looking for a quick financial solution, Mashreq Bank’s top-up loan could be a good option for you. 

If you face any kind of problem in taking this loan, then you can comment below, you will get the reply within 2 hours.