Mashreq Launches NEO Credit for Salaried Individuals

Mashreq, a leading financial institution in the MENA region, has introduced its latest loan product, NEO Credit, tailored specifically for salaried individuals. NEO Credit offers small-sized loans of up to AED 35,000, providing customers with immediate access to funds without the requirement for salary transfer, effectively addressing their short-term financial needs.

Kartik Taneja, Head of Payments & Consumer Lending and Chairman of NEO PAY at Mashreq, emphasised the bank’s commitment to delivering innovative and customer-centric financial solutions through NEO Credit. He highlighted the product’s ability to provide quick, reliable, and hassle-free access to funds, acknowledging the importance of addressing customers’ urgent financial requirements promptly.

Based on customer research indicating a significant demand for quick and convenient finance solutions, Mashreq developed NEO Credit to offer an effortless and swift loan application process. With zero documentation requirements, customers can access cash instantly to fulfil various needs, including investment opportunities, home improvements, vacations, or unexpected medical emergencies.

The application process for NEO Credit is streamlined and user-friendly, allowing individuals to apply for loans online with just a few clicks. Instant approval is granted based on predetermined eligibility criteria, ensuring a hassle-free experience for applicants. Additionally, personalised interest rates and flexible repayment plans ranging from 2 to 18 months further enhance the product’s appeal to customers.

Moreover, customers of NEO Credit will benefit from seamless integration with Mashreq NEO’s digital banking services. This integration enables users to manage their loans alongside other banking activities through a single platform, enhancing efficiency and convenience. The synergy between NEO Credit and Mashreq NEO underscores Mashreq’s dedication to digital innovation and customer satisfaction in the financial sector.

Overall, the launch of NEO Credit reaffirms Mashreq’s commitment to providing innovative financial solutions tailored to meet the evolving needs of customers in the MENA region. By offering instant loans with flexible terms and seamless digital integration, Mashreq aims to empower individuals and enhance their banking experience through NEO Credit and Mashreq NEO.