☀ Application form & trade licence copy.
☀ Incorporation documents as applicable i.e., Power of Attorney (POA), Memorandum of Association (MOA) or Article of Association in case of an LLC, Partnership agreement.
☀ Last 6-12 months’ POS & Bank statements (Mashreq POS & Account Statement not required).
☀ Valid passport for all partners with residence visa page for expatriates.
| Schedule of charges | Charges (Vat Inclusive) | Amount AED 200,000 Tenor 48 months Interest rate 13% Appx Monthly Installment for 1st year - AED 5,365/ |
|---|---|---|
| Rate of Interest | Interest rate will be 13% | Fee applied 1.61% x Loan amount AED 100,000 = AED 1,610 The fee will be deducted from the disbursed amount and rate will be applicable as per final approval. Below are the processing fee charges based on tenor: 12 months – 1.15% 24 months – 1.3% 36 months – 1.45 |
| Early settlement | 3% of the outstanding amount – Through Own Sources 5% of the outstanding amount – Bank Buyout | |
| Late Payment Fee | AED 300 p.m. if payment not received / received after the due date |