Mashreq has launched a home loan product for Qatari nationals and expatriates to purchase property in Dubai at interest rates starting at annual 5.99%. This latest offer by Mashreq UAE is in line with the bank’s approach to offer convenient and innovative financial solutions to customers across the region, according to a statement.
Salaried and self-employed Qatari nationals and expatriates can avail mortgage loans of up to 5mn UAE dirhams and repay in instalments over a period of up to 25 years, while the down payment required is as low as 35% of the property value.
A dedicated mortgage adviser will assist customers throughout the entire process to ensure that customers will get fast, smooth and hassle-free service, the bank said.
Mashreq Qatar head of retail banking Niranjan Mendonca (pictured) said, “Mashreq has responded to consumer demand from Qatari clients by offering financing options for property investments in the revitalised real estate market in the UAE. Through this product, Mashreq UAE offers customers in Qatar unparalleled local expertise and insight to help identify the right property deals.”
This product further establishes Mashreq as a leading regional player, adding to earlier recognition the bank has received since it was awarded the ‘Best Regional Retail Bank Award’ at the Banker Middle East Industry Awards 2012, the statement said.