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You need to transfer a monthly salary of at least AED 5,000 to earn NEO salary transfer cashback.

Total salary cashback amount will be based on the first salary deposited in your account and will be credited in equal monthly installments over a period of 6 months into your Mashreq NEO Account. Each installment will be credited within 90 days from the date of the salary transfer in the respective months. For example, if you start receiving your salary of AED 25,000 in your Mashreq NEO Account, you will be eligible for AED 1,000 salary cashback, and you will receive AED 166.67 (i.e. AED 1,000 divided by 6) in each of the 6 months (within 90 days of the receipt of the salary in your account in the respective month).

A salary transfer will only be recognised by Mashreq if it is credited to the account by the Customer’s employer registered in UAE using the correct channel and method recognised by the bank. A remittance, direct transfer, cash or cheque credit transaction by the Employer will not be considered as a salary transfer transaction and will lose the eligibility of any benefits defined under this offer. An erroneous salary transfer description could also result in the non-payment of the cash joining benefit.

Yes, you will be eligible for salary cashback under Mashreq NEO if you decide to transfer your salary to Mashreq NEO Account and receive a continuous salary credit of AED 5,000 or more on a monthly basis in your Mashreq NEO Account.

If the salary transferred is below AED 5,000 in a month, the customer will not be eligible for cashback in that month. However, in the subsequent months, when salary transferred is AED 5,000+, he/she will become eligible and will continue to receive salary cashback, based on the first salary calculation.

If your salary increases, you cannot claim a different cashback value during that month. Salary cashback is calculated based on your first salary transfer.

If salary is not transferred in a given month; the customer will not be eligible for cashback in that given month. However, during subsequent months, when salary is transferred (AED 5,000+) the customer will continue earning cashback, based on the first salary calculation.

If salary is not transferred in the NEO Account for 2 months in a row, within 12 months of the first salary credit; all previous salary cashbacks will be clawed back, and the salary cashback amount credited by the bank shall be debited from the customer’s account.

You have a maximum of 7 months from the first month of eligible salary transfer.