The Al Masraf personal loan is designed to meet diverse financial needs in the UAE. With competitive interest rates and a straightforward application process, this product lets you access monetary support for various purposes.
Get personal loan at Lowest Interest Rate
You can use this loan — whether for home renovation, education, or consolidating debts — and get exceptional features such as extended repayment terms, quick approval, and more.
Tabled are the major perks of the Al Masraf personal loan in the UAE —
Retail Banking - Personal Loan | Islamic Bank - Personal Finance |
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You must meet the following eligibility requirements for the Al Masraf personal loan —
Retail Banking - Personal Loan | Islamic Bank - Personal Finance |
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Minimum Age - 21 years | Minimum Age - 21 years |
Maximum Age - 65 years | Minimum Salary - AED 15,000 |
Minimum Salary -AED 15,000 | Residency - UAE national or UAE resident |
Residency - UAE national or UAE resident | Employment - Minimum 6 months length of service and confirmed |
To apply for the personal finance or loan offered by Al Masraf, you will need the following documents -
Retail Banking - Personal Loan | Islamic Banking - Personal Finance |
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Through the online portal of Paisabazaar UAE, you can instantly apply for a loan.
Here's what you need to do —
Ever wondered if you could estimate your monthly instalments even before applying for a loan?
Well, thanks to advancements in technology, banks and financial institutions have developed their online calculators. This tool is free and generates accurate results based on the values you’ve entered. Simply provide the loan amount, loan tenure, and interest rate.
The result is generated instantly, which not only saves time but also eliminates human calculation errors. Just keep in mind that the actual value may vary due to the finalised interest rate.
Click here to access an easy-to-use personal loan calculator!
The key fees and charges of the Al Masraf personal loan are as follows —
Retail Banking - Personal Loan | Islamic Banking - Personal Finance |
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Processing Fees - 1% of the loan amount (Min - AED 500, Max - AED 2,500) | Processing Fees - 1% of the finance amount (Min - AED 500, Max - AED 2,500) |
Credit Life Insurance - 0.0131% (per month) of the outstanding loan amount | Late Payment Fee - 2% of the delayed amount (Min - AED 50, Max - AED 200) |
Delayed Payment Penal Interest Charges - 2% of the delayed amount (Min - AED 50, Max - AED 200) | Finance Top-Up (applicable only before the first 6 EMIs) - 1% of the finance top-up amount (Min - AED 500, Max - AED 2,500) |
Loan Top-Up (valid only before the first 6 EMIs) - 1% of the loan top-up amount (Min - AED 500, Max - 2,500) | Finance Rescheduling Fees - AED 250 |
Loan Cancellation Fee - AED 100 | Finance Cancellation Fees - AED 100 |
Loan Rescheduling Fee - AED 250 | Instalment Deferment Fee - AED 100 |
Deferment of Instalment - AED 100 | Early Settlement for Finance from the Same Bank - 1% of the outstanding balance Max - AED 10,000 |
Early Settlement (whether for a loan from the same bank or any other one) - 1% of the outstanding balance - up to AED 10,000 | Early Settlement from Other Banks’ Finance - 1% of the outstanding balance, up to AED 10,000 |
Final Settlement from Other Sources/ End of Service Benefits (EOSB) - 1% of the outstanding balance, up to AED 10,000 | Final Settlement from Other Sources/ End of Service Benefits - 1% of the outstanding balance (max – AED 10,000) |
Partial Payment from All Sources, including EOSB - 1% of the outstanding balance, up to AED 10,000 | Partial Payment from All Sources, including EOSB - 1% of the outstanding balance (max - AED 10,000) |
You must have a salary of at least AED 15,000 to apply for this Al Masraf loan.
Yes, a repayment holiday feature is available.
Yes, the fee is 1% of the outstanding amount. The maximum fee amount is AED 10,000.
Yes, expatriates living in the UAE are eligible to apply for the loan.
Repayment terms range from 12 months to 48 months, depending on the loan amount and your preferences.
No, the Al Masraf personal loan is an unsecured loan. Thus, no collateral is required.