Mashreq Bank review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Mashreq Bank lends directly in the UAE, and personal loans run at 2.99% to 36% on amounts of AED 10,000 to AED 2,000,000. It suits salaried residents who transfer their salary to the bank and want the money credited the same day, though the salary transfer requirement narrows who can qualify.

Key facts

Best for
Salaried UAE residents paying their salary into Mashreq and wanting same-day funding.
APR
2.99% to 36% (Source, checked September 26, 2026)
Loan amount
AED 10,000 to AED 2,000,000 (Source, checked September 26, 2026)
Term
6 to 60 months (Source, checked September 26, 2026)
Arrangement fee
Processing fees (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Funding time
5 minutes application process, amount credited to your Mashreq account after income verification (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Eligibility
UAE residence visa and Emirates ID; minimum monthly salary AED 5,000 for approved companies and AED 8,000 for unapproved companies; salary transfer required; instalments capped at 50% of salary (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Mashreqbank PSC (Source, checked September 26, 2026)
Founded
1967 (Source, checked September 26, 2026)
Support channels
Email, Help-centre (Source, checked September 26, 2026)
Features
Same-day funding
Official website
mashreqbank.com

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
LinkedInXfacebook.com

Pros and cons

Pros

  • A direct lender rather than a broker, so the agreement sits with the bank itself (direct lender).
  • Same-day funding is listed as a feature, with the amount credited to a Mashreq account after income verification (same day funding).
  • Borrowing runs AED 10,000 to AED 2,000,000 over terms of 6 to 60, so both a short repayment and a longer one are on the table.
  • Personal loans and debt consolidation sit in the same product set (personal and debt consolidation).

Cons

  • Support runs on email and help centre only, with no phone line or live chat listed.
  • A hard credit check is applied, and no soft prequalification step is listed (hard).
  • A processing fee is charged on top of the interest rate, so the headline 2.99% to 36% is not the full cost (Processing fees).
Mashreq Bank

Ready to try Mashreq Bank?

Scored 9.3 / 10 by BorrowCue.

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Who it suits

  • Salaried UAE residents on a residence visa who can move salary into a Mashreq account.
  • Borrowers funding home improvement work, a named use case for these loans (home improvement).
  • Anyone consolidating existing debts into a single repayment (personal and debt consolidation).

Who should look elsewhere

  • Monzo Flex, priced at 10% to 23%, if a narrower rate band matters more than same-day funding in the UAE.
  • Cashspace ES, listed at 0%, if the interest element on its own matters more than eligibility in the UAE.
  • Cashspace, at PHP 12 to PHP 36, for readers benchmarking outside the UAE market.

How Mashreq Bank compares

Where Mashreq Bank is available

Available
Bahrain, Egypt, Hong Kong, India, Kuwait, Oman, Pakistan, Qatar, United Arab Emirates
Licence in United Arab Emirates
Central Bank of the United Arab Emirates, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate and fees should I expect on a Mashreq Bank personal loan?+

Personal loans carry an APR of 2.99% to 36%, which is a wide band rather than a single advertised rate. A processing fee also applies (Processing fees), so compare the total amount repayable rather than the headline rate on its own.

How much can I borrow, and over what term?+

Borrowing runs AED 10,000 to AED 2,000,000 over terms of 6 to 60. Both ends of the range are generous, so a modest loan repaid quickly and a larger one spread over the longest available term are both workable, subject to the salary cap on instalments.

How quickly is the money paid out?+

The application process is short, and the amount is credited to your Mashreq account after income verification. Same-day funding is listed as a feature (same day funding), so the money lands in an account you already hold rather than a new one.

Does the application involve a credit check?+

A hard credit check is used (hard), which matches 76.5% of the ranked personal loan lenders. There is no soft prequalification step listed, so a decision is made on a full credit search.

Who can apply?+

You need a UAE residence visa and an Emirates ID, a minimum monthly salary that is higher if your employer is not on the approved list, and a salary transfer to Mashreq. Instalments are also capped against your salary, which limits the size of any award.

Who regulates the bank, and am I dealing with the lender directly?+

Mashreq Bank operates in the UAE under the Central Bank of the United Arab Emirates. It is a direct lender (direct lender), so the lending contract and the account holding the money sit with the same institution rather than an intermediary.

How do I get help with an application or an offer?+

Support runs on email and help centre, with no phone line or live chat listed. Queries about a specific rate offer, the processing fee or eligibility can be raised by email or through the help centre.

Can I use these loans for home improvements or to consolidate debt?+

Both sit inside the product set: personal loans and debt consolidation are both listed (personal and debt consolidation), and home improvement is named as a use case (home improvement). Use email and help centre to confirm the fee on a consolidation request before you apply.

Sources

  • mashreqbank.com checked September 26, 2026

    Backs: Founded, Legal entity, Lender type, Support channels, Licences

    “Since our inception in 1967, Mashreq has adopted principles that contribute towards building a sustainable planet.”

  • mashreqbank.com/en/uae/neo/loans checked September 26, 2026

    Backs: Loan types

    “Personal Loan - Personal Loan for Existing Customers, Personal Loan for New Customers, NEO Credit Instant Loan, Debt Consolidation Loan”

  • mashreqbank.com/en/uae/neo/loans/personal-loans/neo-credi... checked September 26, 2026

    Backs: Credit check, Features, Funding time

    “Once your income has been verified from UAEFTS or AECB, and your Mashreq Account is activated, your loan amount will be credited to your account.”

  • mashreqbank.com/en/uae/neo/loans/personal-loans/pl-new-cu... checked September 26, 2026

    Backs: Loan amount, APR, Eligibility, Arrangement fee, Term, Use cases

    “Avail loans up to 20X your salary and as high as AED 2 million; calculator loan amount AED 10,000 - AED 1,500,000”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Representative example.

Mashreq Bank

Mashreq Bank

Salaried UAE residents paying their salary into Mashreq and wanting same-day funding.

9.3/10See alternatives

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