Personal Loans
Unlock financial freedom with our flexible loan options designed for every stage of your career.
New Loan, Top-Up, or Buyout
Whether you are seeking a new loan,a top-up on an existing one, or a buyout, Mbank offers you a range of tailored personal loans to meet your exact needs.
Started a New Job?
Mbank is proud to support UAE’s Year of Community with exclusive personal loan offerings for UAE Nationals working in government institutions.
Transfer your salary to Mbank and get:
- Up to AED 175,000 to cover your Marriage Expenses.
- Since Investment Financing is one of our top priorities in supporting the community, we offer you up to AED 250,000 to buy your First Investment Property.
Raha Buyout
We’re here to smooth the flow. Take advantage of our 3 month payment holiday.
For a Limited Time Only:
- Zero processing fees
- Option to postpone your first payment up to 180 days
Apply now digitally via the Mbank UAE app… and in just a few clicks!
*Terms & Conditions Apply.
Get a head start on your digital banking journey
All the answers. Right here.
Get all the answers you need to frequently asked questions.
-
Who can apply for an Mbank Personal Loan?
All salaried UAE residents (UAE Nationals and Expatriates) working for Government, Semi-government and approved list of Companies. The applicant must be aged 21 and above to be eligible for a Personal Loan from Mbank.
-
What is the minimum income required per month to take a Personal Loan?
A monthly fixed Salary of AED 10,000 or above.
-
Do I have to transfer my Salary income to Mbank to take a Personal Loan?
Yes, it is a mandatory requirement to transfer your Salary to Mbank.
-
Can I defer my Personal Loan instalment?
Yes, you can defer up to two (2) deferments in a calendar year for Personal Loan repayments as per the applicable Terms & Conditions as part of the Mbank Policy.
-
How do I apply for a Personal Loan?
If you are an existing Mbank Customer, simply apply online through our Mbank Mobile App. I have an existing Personal Loan with Mbank, can I increase my Personal Loan amount? Yes. You may do so by applying for a Loan top up. This will require fresh eligibility assessment and documentation.
-
Can I get a Loan if I’m not confirmed in service or this is my first job?
Yes, we have a unique loan proposal for UAE nationals under “First Job Loans” whereby a UAE national who is joining a company for the first time in a Governmental entity can get a loan from day one – as per the applicable Terms & Conditions.
-
What is the maximum tenor for a Personal Loan?
Residents of the UAE are eligible for a personal loan for a maximum of 48 months, while those employed by the Ministry of Defense may apply for up to 60 months. It is important to note that when the loan matures, the maximum term for expatriates cannot exceed 60 years, and for UAE nationals, it cannot exceed 65 years.
-
If I have an existing Personal Loan in another bank, can I transfer it to Mbank?
Yes, you may do so by applying for a Personal Loan Buyout and moving your loans to Mbank. Enjoy additional funds with attractive interest rates (if you meet the eligibility criteria).
-
What are the applicable charges for Personal Loans?
Please refer to our Schedule of Charges for information about the fees and charges.
-
What are the applicable interest rates for Personal Loans?
Our interest rates are competitive and are charged on a reducing balance. To know more about this, please get in touch with our bank representative. For more details on fees and charges please click here.