Al Masraf Personal Loan

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.

ADIB Personal Loan
Al Masraf Personal Loan
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates
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Get personal loan at Lowest Interest Rate

Dubai
Abu Dhabi
Sharjah
Ras Al Khaimah

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.

Key Features of the Al Masraf Personal Loan in UAE

Tabled are the major perks of the Al Masraf personal loan in the UAE

Retail Banking - Personal Loan Islamic Bank - Personal Finance
  • High loan amount of up to 20 times your salary
  • Flexible repayment tenure of up to 48 months
  • Competitive fixed interest rates ranging between 6.49% and 14.49% per annum
  • Easy documentation and fast application processing
  • Loan deferment facility available
  • Shariah-compliant structured product
  • High finance amount of up to 20 times the income
  • Get a dedicated Relationship Manager
  • Fixed profit rates ranging between 6.49% and 14.49%
  • Flexible repayment period of up to 48 months
  • Free first chequebook, free teller transactions, and free monthly/ quarterly statements

Know Your Eligibility for Al Masraf Loan in the UAE

You must meet the following eligibility requirements for the Al Masraf personal loan —

Retail Banking - Personal Loan Islamic Bank - Personal Finance
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

Al Masraf Personal Loan — Documents Checklist

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
  • Emirates ID
  • Passport
  • Salary Certificate
  • Duly Filled Application Form
  • Emirates ID
  • Passport
  • UAE Residence Visa
  • Trade Licence Copy
  • Duly Filled Application Form

Apply for an Al Masraf Loan via Paisabazaar.ae

Through the online portal of Paisabazaar UAE, you can instantly apply for a loan.

Here's what you need to do — 

  1. Click here — this will take you to the lead form
  2. Enter the required details
  3. Submit the form
  4. Get directed to the quotes
  5. Choose the Al Masraf loan and understand its key features, charges, and more
  6. Apply to complete the process

Al Masraf Personal Loan Calculator

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!

Fees and Charges for Al Masraf Personal Loan in UAE

The key fees and charges of the Al Masraf personal loan are as follows —

Retail Banking - Personal Loan Islamic Banking - Personal Finance
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)

Frequently Asked Questions

What is the minimum salary required to apply for the Al Masraf personal loan?

You must have a salary of at least AED 15,000 to apply for this Al Masraf loan.

Is there a loan deferment facility available for conventional personal loans by Al Masraf?

Yes, a repayment holiday feature is available.

Are there any early repayment fees for the Al Masraf personal loan?

Yes, the fee is 1% of the outstanding amount. The maximum fee amount is AED 10,000.

Can expats apply for an Al Masraf personal loan?

Yes, expatriates living in the UAE are eligible to apply for the loan.

What are the repayment terms for the Al Masraf personal loan?

Repayment terms range from 12 months to 48 months, depending on the loan amount and your preferences.

Do I need to provide collateral to secure the loan?

No, the Al Masraf personal loan is an unsecured loan. Thus, no collateral is required.

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