Debt consolidation Finance

Dreams to reality. Delay no more.

With Mashreq Al Islami Debt Consolidation Finance

Lower monthly payments

More disposable income

Up to 90 days

1st EMI deferral period

Reduced profit payment

Save more money

Become debt free faster

If you have taken multiple finances to meet your expenses and are looking at an efficient way to pay your finance, then Mashreq Al Islami’s Debt Consolidation Finance is the right option for you. You can now combine all your debts into one personal finance and save on profit payments.
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Guaranteed Joining Bonus
Discover our Happiness Account which offers a guaranteed joining bonus and a host of other benefits. Terms & Conditions apply.
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Flexible Tenure
Up to 300 months for long-term finance and 48 month for debt consolidation.
Competitive Profit Rates
Lower than your profit rate with current bank for long tenor buyouts and competitive rate for debt consolidation
Online Access
Access to Online and Mobile Banking anytime, anywhere.
Finance Calculator

Feel free to play around with the calculator

Finance amount

AED

AED 1,000

AED 5,000,000

Profit rate

%

2.99 %

36 %

Pay back over how many months?

months

3 months

300 months

For better decisioning you can also compare various finance

Finance Comparison Calculator
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Monthly Installment

-

Have your Emirates ID handy? Upload and get your quote now!

Terms & condition will apply. Actual installments may differ.

Have the following documents handy to view your finance offer:

Valid Emirates ID
Valid Passport with UAE residence visa page
Employer salary transfer letter as per Mashreq Al Islami format OR Salary Certificate for Government/ Semi Government employees

Eligibility

Minimum Monthly Salary
AED 5,000 for approved companies & AED 10,000 for unapproved companies.
Company Approval Requisite
Not mandatory to be employed at an approved company for finance eligibility.
Employment Term
Should be a ‘Confirmed’ employee (or) length of service to be 6 months or more at the current company.

Frequently asked questions

If you find yourself in a difficult financial situation and are trying to manage multiple payments with higher profit rates to various creditors, Mashreq Al Islami could help you consolidate your debts. By combining all your debts into one personal finance, you can save on profit payments and benefit from having just one regular payment to manage.
A Mashreq Al Islami Debt Consolidation Finance comes with an array of features and benefits: • Lower monthly payments • Increased disposable income • Reduced profit payments over lifecycle • Higher finance amount of up to AED 1 Million • Deferred payment period of up to 90 days You can use the extra cash in hand for all your planned and unexpected needs. For example: • Enjoy a vacation with family / friends • Give a new look to your home • Host your dream wedding • Pay for your or your child’s education • Clear your emergency medical bills • Invest in lucrative opportunities • Interim needs • Property purchase in your Home Country / Overseas* *As per the UAE Central Bank Guidelines, if a customer takes home finance in the UAE, for a UAE property, the customer cannot use a personal finance to fund the down payment of the property purchase.
Yes, to avail a Mashreq Al Islami Debt Consolidation Finance, you need to transfer your salary to Mashreq Al Islami.
• Minimum salary of AED 5,000 for approved companies and AED 10,000 for unapproved companies. • Finance instalment along with overall regular monthly instalments should not exceed 50% of your monthly salary. Terms and conditions apply
If your length of service with your current employer is less than 6 months or you have recently moved to the UAE, you can get it under ‘New to UAE’ or ‘New to Employer’.
The upfront costs associated with the debt consolidation finance are processing fees and Takaful (insurance) fee as per schedule of charges
Our profit rates are competitive, a flat rate and an equivalent reducing rate is shared before you apply. The finance is always set up on a reducing rate To find out more about this, please get in touch with our bank representative
EMI (Equated Monthly Installment) is calculated based on the total amount of your finance, the finance tenure, 1st due date and the annual profit rate.
With a Mashreq Al Islami Debt Consolidation finacne, you can enjoy following additional benefits: • You will get a zero-balance current account for personal finances greater than or equal to AED 25,000 along with debit card and cheque book facility • You will have access to a wide ATM and Branch network • You will have access to award winning Online and Mobile Banking services • You can avail installment deferment option
The 1st due date of EMI payment is linked to your salary credit date and should be within 90 days of the finance disbursal date.

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