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	Minimum Monthly Income Required: AED 5,000 Minimum Age Required: 21 years Other Requirement: UAE Resident Visa Holders.
	Sweep Current Account	Minimum Monthly Income Required: AED 5,000 Minimum Age Required: 21 years Other Requirement: UAE Resident Visa Holders.
	Current Gold Accounts	Monthly Salary Transfer Required: AED 50,000. Minimum Average Balance Required: AED 300,000 in any of the Current Accounts, Savings Accounts, Fixed Deposit, or Investments. Additional Requirements: Have a minimum home loan of AED 2.5 Million.
Mashreq Bank Savings Accounts	Basic Savings Account	Minimum Monthly Income Required: AED 5,000 Other Requirement: UAE Resident Visa Holders & Non-UAE residents on a visit or transit visa.
	Easy Saver	Minimum Monthly Income Required: AED 5,000 Other Requirement: UAE Resident Visa Holders & Non-UAE residents on a visit or transit visa.
	Daily Bonus Account	Minimum Monthly Income Required: AED 5,000 Other Requirement: UAE Resident Visa Holders & Non-UAE residents on a visit or transit visa.
Mashreq Bank Fixed Deposit Accounts	Fixed Deposit	Minimum Investment Required: AED 10,000 Other Requirements: Savings or Current Account with Mashreq Bank is mandatory.
	Unfixed Deposit	Minimum Investment Required: AED 10,000/USD 2500 (six months minimum tenor) Other Requirements: Savings or Current Account with Mashreq Bank is mandatory.
	Step-Up Saver Account	Minimum Deposit Amount Required: AED 10,000 Other Requirements: Savings or Current Account with Mashreq Bank is mandatory.
Mashreq Bank Business Accounts	Business First	Minimum Monthly Average Balance: AED 50,000
	Business Premium Account	Minimum Monthly Average Balance: AED 150,000
	Business Platinum Speed-X Account	Minimum Monthly Average Balance: AED 350,000
	Term Deposit	Minimum Investment Required: AED 10,000 Other Requirements: Savings or Current Account with Mashreq Bank is mandatory.
Mashreq Bank MaxSaver Account	MaxSaver	Minimum Monthly Income Required: AED 5,000 Other Requirement: UAE Resident Visa Holders & & Non-UAE residents on a visit or transit visa.

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	A Valid Passport with Resident Visa for Expats/Emirates ID Application Form
	Sweep Current Account	A Valid Passport with Resident Visa for Expats/Emirates ID Application Form
	Current Gold Accounts	Resident Visa
Mashreq Bank Savings Accounts	Basic Savings Account	A Valid Passport with Resident Visa for Expats/Emirates ID Application Form Bank Statement of two months from the country of residence (in case of non-residents).
	Easy Saver	A Valid Passport with Resident Visa for Expats/Emirates ID Application Form Bank Statement of two months from country of residence (in case of non-residents).
	Daily Bonus Account	A Valid Passport with UAE Resident Visa Page Application Form Bank Statement of two months from the country of residence (in case of non-residents).

Mashreq Bank Fixed Deposit Accounts	Fixed Deposit	Original Passport/Labor Card Application Form
	Unfixed Deposit	Original Passport/Labor Card Application Form
	Step-Up Saver Account	NA
Mashreq Bank Business Accounts	Business First	NA
	Business Premium Account	NA
	Business Platinum Speed-X Account	NA
	Term Deposit	1^st Time Set Up: Request through Term Deposit form. 2^nd Time Set Up: Request Submitted on ‘Company letter Head’. TL, FATCA, KYC, & ID of Owners or Partners can be submitted if valid documents are not available.
Mashreq Bank MaxSaver Account	MaxSaver	A Valid Passport with UAE Resident Visa Page for expats/Emirates ID. Application Form Bank Statement of two months from country of residence (in case of non-residents).

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.

Account Types

Bankwise Account