NEO PLUS Saver is a high yield Savings account which offers an attractive interest rate on your Savings. To know more about the applicable interest rate, click here.

NEO PLUS Saver Account is available for all existing active NEO customers. This is not available for Gold and Private Banking customers.

To open a NEO PLUS Saver account, you first need to have an active Mashreq NEO account. Once your NEO account is activated, you can easily open a NEO PLUS Saver account through the Mashreq Mobile App. If you don’t have a Mashreq NEO account yet, click here to open.

Start maintaining a balance in your NEO PLUS Saver Account — Interest is credited monthly* based on your average balance. * Exception: In case you transfer your salary and qualify for a higher rate in the middle of the month, interest will be paid at the lower rate until the day of the rate upgrade and the interest credited will be processed on the following day. You will continue earning at the higher rate from the following day till the end of the month. Click here to view the interest rates and calculation details.

Monthly Average Balance is the average of your account’s balance at the end of each day in a month. It’s calculated by adding up the end-of-day balances and dividing by the number of days in that month. To see an illustrative example, click here.

No. There is no fee applicable on NEO PLUS Saver Account.

There is no minimum or maximum limit on account balances. However, interest is earned only on balances up to AED 500,000. Funds above AED 500,000 in the NEO PLUS Saver account will not earn any interest. Additionally, if you do not transfer your salary (or transfer less than AED 10,000 salary), you will earn interest only if you maintain a monthly average balance of at least AED 50,000 in NEO PLUS Saver Account.

No. The NEO Plus Saver Account does not come with a debit card.​

You can enjoy the flexibility of 2 debit transactions from your NEO PLUS Saver Account in a month without impacting the interest payment for that month. If you do more than 2 debit transactions within a month, then interest for that month is forfeited and will not be credited to your account.

Interest is credited monthly* and calculated based on the average balance in your NEO PLUS Saver Account. * Exception: In case you transfer your salary and qualify for a higher interest rate in the middle of the month, interest will be paid at the lower rate until the day of the rate upgrade and the interest credited will be processed on the following day. You will continue earning at the higher rate from the following day till the end of the month. Click here to view the interest rates and calculation details.

Yes. You can still earn a high interest rate of 5% per annum on your savings if you keep AED 50,000 or more in your NEO PLUS Saver account.

If you don’t earn a salary, you can earn a high interest rate of 5% per annum on your savings if you keep AED 50,000 or more in your NEO PLUS Saver account.

If you do not receive salary for a period of 2 consecutive months, you will be eligible for 5% interest rate subject to the terms & conditions. Refer to this document for more details.

1. Login to Mashreq Mobile app 2. Click on your NEO PLUS Saver Account 3. Click on More Options > Close Account

1. Login to Mashreq Mobile app 2. Click on your NEO PLUS Saver Account > Add Funds 3. You can now enter the amount you wish to move from your NEO Account to NEO PLUS Saver Account. Click on Add Fund to complete the transaction Alternatively, if you wish to transfer funds from another bank account directly to NEO PLUS Saver Account, you can find your IBAN by going to your NEO PLUS Saver Account and clicking on Account details.