Earn 6.25% p.a. on salary transfers

NEO PLUS Saver Account is a high-yield savings account offered by Mashreq NEO, providing an attractive interest rate of 6.25% per annum on your savings if you transfer salary OR 5% per annum if you can’t transfer salary but instead maintain at least AED 50,000 monthly average balance. Powered by one of the top-rated banking mobile apps in the UAE, Mashreq NEO brings you some of the best savings returns — built to last and here to stay. It's designed for individuals seeking a flexible and rewarding way to grow their funds. 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 must have an active Mashreq NEO Account. Once your NEO Account is activated, you can easily open a NEO PLUS Saver Account through Mashreq Mobile App. If you don't have a Mashreq NEO Account yet, you can open one via Mashreq Mobile App —available on the Apple App Store, Google Play Store (Android) or Huawei App Gallery.

Start maintaining a balance in your NEO PLUS Saver Account — Interest* is calculated based on your monthly average balance and credited at the end of each month. * 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.

The Monthly Average Balance is the average of your account's end-of-day balances over a month. It's calculated by summing the daily end-of-day balances and dividing by the number of days in the 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.

Even without a salary, you can earn 5% per annum interest by maintaining a minimum average monthly balance of AED 50,000 in your NEO PLUS Saver Account. This makes it suitable for home makers, freelancers or business owners.

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.

To close your NEO PLUS Saver Account: ● Log in to Mashreq Mobile App. ● Select your NEO PLUS Saver Account. ● Tap on 'More Options' > 'Close Account'.

To add funds: 1. Log in to Mashreq Mobile App. 2. Select your NEO PLUS Saver Account > 'Add Funds'. 3. Enter the amount you wish to transfer from your NEO Account and tap 'Add Fund' to complete the transaction. Alternatively, to transfer funds from another bank: ● Find your IBAN by going to your NEO PLUS Saver Account and tapping on 'Account Details'.

No. NEO PLUS Saver Account is only available for UAE residents who hold an active Mashreq NEO Account.

Yes. A Shariah-compliant option for the NEO PLUS Saver Account is available to apply for from Mashreq Mobile app. Please note at any point you can have only 1 NEO PLUS Saver Account (Shari'ah or non- Shari'ah)

NEO PLUS Saver Account is a high-yield savings account designed to encourage savings and hence it does not come with a debit card, and allows only 2 debit transactions per month without any impact on the interest rate.

You do not need any documents to open NEO PLUS Saver Account. Simply log in to your Mashreq NEO Account from Mashreq Mobile App and open the account in a few taps.

No. NEO PLUS Saver Account does not allow auto-debit or standing instruction facility.

No. You cannot transfer money directly from your NEO PLUS Saver Account to an international account. You are allowed to make only 2 debits from NEO PLUS Saver Account to your Mashreq NEO Account.

No. NEO PLUS Saver Account is not available as a joint account.