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Mashreq Bank Accounts
Mashreq Bank is the Dubai-based bank that was founded as the ‘Bank of Oman’ in the year 1967. Mashreq bank was the first bank of United Arab Emirates to install ATM cash dispensers, the first bank to issue debit & credit cards, and the first bank to introduce consumer loans.
Today, the bank offers various conventional & Islamic personal banking products & services. Among all, the bank account is one of the best products of Mashreq Bank. The bank offers various types of bank accounts such as Current Account, Savings Account, Fixed Deposit Accounts, and Business Accounts in order to meet the specific need of its customer. Each of the bank account offered by the Mashreq Bank is loaded with amazing features and benefits that enable its account holder to make the most of their money.
Features & Benefits of Mashreq Bank Accounts
Following are the main features & benefits of the bank accounts offered by the Mashreq Bank:
Online & Mobile Banking
The account holder can avail free access to online & mobile banking.
Attractive Interest Rate
The account holder can avail attractive interest rate with the Mashreq bank Account.
Complimentary Debit Card
Most of the bank accounts offered by the Mashreq Bank offers free debit card in order to provide the customer with easy access to their funds.
Cash Withdraw Facility
The account holder can withdraw cash at over 1.8 million ATMs in more than 200 countries with the utmost ease.
Purchase Facility
The Mashreq Bank offers its customers the facility of making purchases at over 24 million retail outlets across the globe.
Tele-Banking Service
The account holder can also enjoy the Tele-banking service free of cost.
Mashreq Bank Account Types
The Mashreq Bank offers the customers various types of bank accounts in the UAE that helps in fulfilling their financial needs. Following are of some of these Mashreq bank accounts:
Current Account
Mashreq bank offers current accounts that help its account holder to manage their finances in a way that suits their day-to-day transactions needs. Basically, the bank offers three types of current accounts i.e. Current Account, Sweep Current Account, and Current Gold Accounts. The combination of flexibility, convenience, financial as well as non-financial benefits ensures that its account holder has always access to their bank account that meets their financial needs.
Savings Account
The Mashreq Bank Savings Account provides its account holder the freedom of making the bank transaction free of cost while earning a return on their savings or deposits. The bank offers 3 variants in Savings Account i.e. Basic Savings Account, Easy Saver, and Daily Bonus Account. Each of these savings account offered by the Mashreq Bank offers higher interest for the savings. The more the account holder save, the higher the interest they earn from the Mashreq Savings Account.
Fixed Deposit Account
The Mashreq Bank Fixed Deposit Account gives its account holder the benefit of higher returns for savings as per their requirements. The bank offers three types of fixed deposit accounts i.e. Fixed Deposit, Unfixed Deposit, and Step-Up Saver Account. All of these fixed deposit accounts are designed to accelerate the customer’s savings, so the longer they save, the more interest they earn.
Business Account
Mashreq Bank offers various types of Business Accounts that are rewarding, reliable, and well-suited to the customer’s banking requirements. The bank basically offers 4 variants in Business Accounts i.e. Business First, Business Premium Account, Business Platinum Speed X Account, and Term Deposit. All of these Mashreq Business Accounts cater to its customers comprehensive & specialized account services in order to perform day to day business transactions in a hassle-free manner.
MaxSaver Account
Mashreq Bank has introduced ‘MaxSaver Account’that provides the ideal combination of flexibility & ease of operation. This is basically a personalized account with naming feature that is available for existing current or savings account holder. This bank account offers a range of benefits including unlimited free account to account money transfers within Mashreq bank, complimentary personal accident insurance and it is available in AED & USD. In addition to this, there is no monthly fee or minimum balance requirement on this Mashreq bank Account.
Eligibility Criteria to Open Mashreq Bank Account in UAE
The applicant needs to meet the following eligibility criteria in order to open a bank account with Mashreq Bank:
Mashreq Bank Accounts | Account Types | Eligibility Criteria |
Mashreq Bank Current Accounts | Current Account |
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Sweep Current Account |
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Current Gold Accounts |
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Mashreq Bank Savings Accounts | Basic Savings Account |
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Easy Saver |
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Daily Bonus Account |
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Mashreq Bank Fixed Deposit Accounts | Fixed Deposit |
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Unfixed Deposit |
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Step-Up Saver Account |
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Mashreq Bank Business Accounts | Business First |
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Business Premium Account |
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Business Platinum Speed-X Account |
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Term Deposit |
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Mashreq Bank MaxSaver Account | MaxSaver |
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Documents Required to open a Mashreq Bank Account in UAE:
The applicant needs to submit the following documents in order to open a Mashreq bank account:
Mashreq Bank Accounts | Account Types | Document Required |
Mashreq Bank Current Accounts | Current Account |
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Sweep Current Account |
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Current Gold Accounts |
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Mashreq Bank Savings Accounts | Basic Savings Account |
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Easy Saver |
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Daily Bonus Account |
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Mashreq Bank Fixed Deposit Accounts | Fixed Deposit |
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Unfixed Deposit |
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Step-Up Saver Account |
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Mashreq Bank Business Accounts | Business First |
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Business Premium Account |
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Business Platinum Speed-X Account |
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Term Deposit |
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Mashreq Bank MaxSaver Account | MaxSaver |
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How to Open Mashreq Bank Account In UAE?
Opening a Mashreq bank Account is easy and quite convenient. Interested people can open a bank account with Mashreq Bank in the following manner:
- Online Banking: The applicant can visit the official website of the bank to open the desired bank accountwith Mashreq bank.
- Visiting the Bank Branch: Alternatively, the applicant can open the Mashreq Bank Accountby visiting the nearby bank branch.
- Phone Banking: The applicant can also contact the bank on its official customer support number +9714 424 4444 for opening a Mashreq Bank Accountin the UAE.
Mashreq Bank Account - FAQs
Q.1 Do I need to pay any account opening charge for an opening bank account with Mashreq Bank?
Ans: No, the Mashreq bank doesn’t levy any account opening fee on you.
Q.2 Which currencies can Mashreq Bank Account be opened in?
Ans: Many of the bank accounts offered by the Mashreq bank can be opened in AED & USD.
Q.3 Can I avail free cheque book with any of the Mashreq Bank Accounts?
Ans: Yes, you can avail the first cheque book free of cost with the Mashreq Current Account.
Q.4 Where do I need to contact in case of any doubt?
Ans: You can contact the bank on its official customer support number +9714 424 4444 in order to resolve any of doubt regarding Mashreq Bank Account.
Q.5 What banking privileges can I avail with Mashreq Bank Accounts?
Ans: You can enjoy free online and mobile access with many of the bank accounts offered by the Mashreq Bank.
Q.6 Is the Minimum balance threshold fixed or can it be changed?
Ans: The minimum balance threshold can be changed any time without prior notice as per the sole discretion of the bank.
Q.7 Will I get a free debit card with any of the Mashreq Bank Accounts?
Ans: Yes, you will get a complimentary debit card along with various Mashreq Bank Accounts to get easy access to your funds.
Q.8 Can I open a Mashreq Bank Account online?
Ans: Of course, yes! The bank provides the flexibility to its customer to open a bank accountonline. The account can easily be opened by visiting the official website of the bank.
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