and your mind dreams of.
Personal Finance Remit
Instead of sending regular payments home, with Mashreq’s Personal Finance Remit, you can send the money you plan on transferring in a single transaction. Ideal for buying a new property or renovating an old one and there’ll be no fees or charges from us.
Simply apply for a Personal Finance and Mashreq Al Islami will transfer it back home for you, without any fees or charges.
Sound’s great? There’s more:
- No processing Fee
- Complimentary Life Takaful
- Convenience to remit to any bank account or any beneficiary in your home country
- Finance amount up to AED 1 Million
- Finance disbursal in 24 hours
- Simple documentation and application process
Fulfill your dreams back home with Mashreq Al Islami’ Personal Finance with Remittance offer, today!
- Minimum monthly Salary Requirement starting from AED 5,000 for Approved Companies & AED 10,000 for Unapproved Companies for Expatriate and AED 10,000 for Emiratis.
- Valid Passport Copy with Valid residence visa for Expatriates
- Valid Emirates ID
- Salary Transfer Letter from employer as per Mashreq format or Salary certificate for Govt/semi govt
- Latest 3 months Bank Statement with salary credits
What is “Mashreq Personal Finance Remit”?
“Mashreq Personal Finance Remit” is a bundled facility offered only to those customers who want to avail a finance from Mashreq Al Islami and transfer the funds to their home countries or to international destinations, for Investment or any other purpose.
- What will be the charges on Personal Finance and Fund Transfer?
There will not be any charges (Processing Fee and Takaful fee will be waived) on Personal Finance, if the entire finance amount is transferred with Mashreq, to a destination outside the United Arab Emirates. Remittance fee charged by Mashreq Bank will be waived-off however applicable correspondent banks charges will apply.
- Is this offer applicable on Additional Finance cases?
No, this offer is only valid on fresh Personal finances and will not be applicable on Buy-out or Additional Finance facility cases.
- Is this product offered on Non-Salary Transfer Finance?
This product will only be offered with Salary Transfer Personal Finance.
- Is it necessary to transfer the entire finance amount?
In order to be eligible for Personal Finance Remit benefits, you need to transfer the entire finance amount.
- I am an existing account holder in Mashreq / Mashreq Al Islami; can I apply for Personal Finance Remit?
Yes, existing account holders with Mashreq / Mashreq Al Islami and with no active Personal finance can apply under this program.
What Foreign Currency rates will be applied on fund transfer?
Foreign currency rates decided by Mashreq on the day of transfer will be applied. Once your finance is approved, you will be called by a Mashreq / Mashreq Al Islami representative to confirm the exchange rates before transferring the funds.
- What will happen if I do not agree with the Exchange Rates?
In case of disagreement on the exchange rates, you will be given an option to continue the finance by paying all the applicable charges (Processing Fee and Takaful charges) or to cancel the finance.
Whom do I need to contact to apply for Personal Finance Remit?
The “Mashreq Personal Finance Plus” promotion is a limited time promotion and is available to new to bank as well as existing customers, subject to a minimum finance amount. Please visit the nearest Mashreq branch or call us on 04 -424 4411 for more information.
- What documentation is required to apply for the Personal Finance Remit?
In order to apply for Personal Finance Remit, you need to provide standardized Personal Finance documentation and required Fund Transfer details
- What are the other benefits offered by Mashreq Personal Finance? For further information on Mashreq Personal Finance, please visit http://www.mashreqalislami.com/en/personal/finance/index.aspx
- Mashreq’ Personal Finance Remit is only offered to ‘customers’ who are availing a Fresh Personal Finance facility with the Salary Transfer.
- To be eligible for 1% Processing Fee, complimentary Life Takaful and free Fund Transfer, customer needs to transfer the entire finance amount with Mashreq, to a destination outside United Arab Emirates.
- Mashreq charges will be waived off but Correspondence Bank charges will apply on Funds Transfer
- Due to any reason if the finance proceeds are not transferred to a destination outside United Arab Emirates, Bank will recover all the applicable charges mentioned in Schedule of Charges from my account.
- All applicable charges will be applied by the Bank on subsequent extension of Additional finance facility.
- These terms and conditions are in addition to the respective Personal Finance and Fund Transfer terms and conditions.
- Any application received from customers for this facility, will also go through the regular underwriting criteria checks as per Mashreq’ approved policy.
- The approval/rejection of any Personal Finance facility will be solely on the bank’s discretion and will be based on Mashreq’ approved policy