Having a savings account is essential once you start earning, as such a bank account can help you in securing your capital along with attractive interest rates.
Founded in 1967 and with an experience of over 5 decades, Mashreq Bank is one of the oldest banks in the UAE. It started its operations in Dubai and has emerged as one of the leading banks in the country with a strong global presence. With an unsurpassed reputation for innovative banking solutions, the bank has received several awards including the Most Innovative Bank in the Middle East title by Euromoney.
Mashreq Neo account is one such innovative bank account that offers exclusive benefits and rewards including foreign remittance facility. The instant account opening process of Mashreq Neo eliminates the hectic paperwork and provides quick account access. In addition, the account is available for salaried individuals, housewives, students and business people.
Mashreq Neo current account is a digital bank account that delivers all the banking facilities like money transfers, bill payments and account monitoring through the Neo mobile application. Individuals can open the Mashreq Neo account instantly and get their queries resolved through an online banking channel with complete ease and convenience. They also have the flexibility to open a Mashreq Neo account with or without salary transfers. In addition, the account offers chequebook and debit card facilities to access the funds without having to visit the branch.
Mashreq Neo has a whole range of savings and current accounts that provide branchless banking services at your fingertips. Following are the two current accounts offered by Mashreq Neo.
Mashreq Neo Smart is a digital current account that offers branchless banking facilities using the Neo mobile application. The account comes with numerous rewards & offers including an instant and paperless account opening process.
Mashreq Neo Salary Account is a digital current account that requires a salary transfer of AED 5,000 or more. Like the Smart account, the Neo Salary account also comes with a paperless and quick account opening process that can be opened within minutes. It delivers all the banking facilities through Neo mobile app without having to visit the bank.
Still confused about opening an account. Here are a few reasons why you should opt for a Mashreq Neo Current Account.
Before applying, customers need to make sure they fulfil the eligibility criteria for the Neo current account. Following are the basic eligibility criteria for the Mashreq Neo Current account.
With a completely online and paperless application process, Mashreq Neo current accounts are quick and convenient to open. Individuals can apply for a bank account from anywhere and anytime with a few simple clicks. Follow the below-mentioned steps to apply for the Mashreq Neo current account.
The account will get verified within minutes and will be ready to use. Transfer funds into the account using an online banking facility.
Individuals can also apply for the Neo bank account by logging into the Mashreq Neo official portal and submitting the application form. The process is similar and takes no time.
Q1: Can a student or non-employed individual open a Mashreq Neo bank account?
Ans: Yes, the Neo saving accounts are available for students, housewives and non-employed individuals. For current accounts, an individual needs to have a minimum salary of AED 5,000 or more.
Q2: Do I need to visit the bank’s branch for availing banking services?
Ans: No, all the banking services are offered on the Neo mobile app. However, individuals can visit the Mashreq bank ATM/ITM for cash withdrawal and cheque encashment.
Q3: What is the minimum age required to apply for Mashreq Neo current account?
Ans: An individual needs to be at least 18 years old or above to open a Neo current account.
Q4: What is the cashback offer on salary transfer in the Mashreq Neo Salary account?
Ans: The bank offers cashback of up to AED 2,500 depending on the amount of salary being transferred. The cashback and salary slabs are mentioned in the table below.
|Monthly Income Range||Cashback Offered|
|AED 5000 to AED 9,999||AED 200|
|AED 10,000 to AED 19,999||AED 1000|
|AED 20,000 to AED 49,999||AED 1500|
|AED 50,000 and above||AED 2,500|