Mashreq Neo is an offset Mashreq (the oldest bank in the UAE.) This bank is the first completely digital bank launched in the UAE. Mashreq Neo operates only online i.e. without a physical branch and paperless. What makes Mashreq Neo so popular is its security - being ranked in 2020 as the most secure banking app in the Middle East by World Finance. They also offer great cash back offers and rewards to customers.
Mashreq Neo offer two types of bank accounts:
1. Neo Smart
2. Neo Salary
Neo Smart
With Neo Smart, account holders can receive AED 350 cash back when they open an account. Account holders will also experience benefits such as access to global stock exchanges, fast & easy remittances, free cheque book and the ability to invest in gold and foreign currencies. This account is free as long as the holder maintains a minimum balance of AED 3,000. If the balance drops below this, a charge of AED 10 will be credited. It's completely paperless and branchless.
Neo Salary
Mashreq Neo also offer a Neo Salary option. This account comes with cash back up to AED 2,500. However, the holder must have a minimum monthly salary of AED 5,000 or an annual turnover of AED 60,000. This account can be enjoyed for free, as long as the holder transfers their salary each month. If not, they will be charged AED 10 for that month.
Mashreq Neo allows account holders to earn interest on their savings with their Neo Savings account. The account opening is super quick and easy, the process takes just 2 minutes. Holders can enjoy an interest rate of 0.15% p.a. To find the right savings account for you, click the link below.
Compare Saving AccountsIt's really simple to open a Mashreq bank account. If you're interested in opening a bank account with Mashreq all you have to do is follow one of the steps below:
Mashreq currently offer three types of credit cards, Mashreq Cashback Credit Card, Mashreq Platinum Elite Credit Card and Mashreq Solitaire Card. These cards have a range of benefits from entertainment to dining. If you're interested in taking out a Mashreq credit card then you can compare your options here.
Compare Credit Cards