Car loans FAQs
Who is eligible for a Car Loan with Mashreq?
Our Car loan facilities are available to all Salaried Qatari Nationals & Expatriates who are legal residents of Qatar.
What is the minimum /maximum age required to apply for a Car loan?
Minimum Age 18 years for Qatari Nationals and 21 years for Expatriates - Maximum Age 60 years on the maturity of the loan for Expatriates & 65 years for Qatari Nationals.
What is the maximum borrowing amount?
The Maximum borrowing amount is upto QAR 397,500 for salaried customers and QAR 450,000 for Self Employed customers, based on your requirements.
What are the interest rates?
The interest rates are extremely attractive & competitive. Rates are calculated on a reducing balance basis, but are quoted at a flat interest rate for easy understanding by customers.
Is there any security required to avail the loan?
Your vehicle will be mortgaged to the bank during the period of the loan as security.
Are there any Special features?
- You do not need any guarantors for Car loans.
What are the benefits of taking the car loan with Mashreq?
In additon to the Car loan
- Free Current account with zero balance for the life of the loan
- Free ATM/Debit card accepted worldwide
- Free online banking
- Mashreq Gold Credit Card, together with free AAA Gold membership for roadside and off road assistance.
What is the maximum repayment tenor?
It is your choice depending on your ease of payment. Repayment tenures start from 6 months and can be extended up to 48 months for Expatriates and up to 72 months for Qatari Nationals.
What is the minimum salary/income required to qualify for a Car Loan?
Minimum monthly salary of 6,000 for the rest.
What is the minimum loan amount for Car loans?
The minimum loan amount is QAR 25000.
Where do I go to apply?
You can apply at any of our Mashreq branches in Qatar. For more information please call +974 44083333 or SMS “AUTO” to 92677.