Mashreq Bank Pakistan review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Mashreq Bank Pakistan's Neo Islamic Savings pays a variable profit rate of 10% to 11.5% on a easy access basis, with a PKR 0 monthly charge and a PKR 0 minimum deposit. It suits readers chasing a high return with free access, and it is a Pakistan product under the State Bank of Pakistan.
Key facts
- Best for
- A high, flexible return on a easy access basis with a PKR 0 monthly charge.
- Headline rate
- 10% to 11.5%↗
- Rate type
- Variable↗
- Term
- 6 to 60 months↗
- Minimum deposit
- PKR 0↗
- Access terms
- Withdraw funds anytime, no withdrawal penalties, all ATM withdrawals free; profit paid monthly within the first 5 working days of the subsequent month↗
- Monthly fee
- PKR 0↗
- Account kind
- Easy access↗
- Legal entity
- Mashreq Bank Pakistan Limited↗
- Headquarters
- Pakistan↗
- Founded
- 1967↗
- Support channels
- Phone, Chat, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- mashreq.com
Loans
- APR
- AED 2.99 to AED 36↗
- Loan amount
- AED 10,000 to AED 2,000,000↗
- Lender type
- Direct lender↗
- Eligibility
- UAE residents only: valid Emirates ID (new customers also valid passport with UAE residence visa); confirmed employee or 6+ months service; minimum monthly salary AED 5,000 for approved companies, AED 8,000 for unapproved; salary transfer to Mashreq required; instalments capped at 50% of monthly salary↗
- Loan types
- Personal, Debt-consolidation↗
- Use cases
- Home-improvement↗
- Features
- Travel
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- Profit rate of 10% to 11.5%, well clear of the site median of 3.06% and of bunq at 3.01% or Wise at 3.29%.
- A easy access account: funds come out whenever you want, with no withdrawal penalty and free ATM withdrawals.
- No monthly charge on the no monthly fee model and a PKR 0 minimum deposit, so the whole balance earns.
- A debit card on mastercard, listed for travel, with support on phone, chat and help centre from a bank founded in 1967.
Cons
- A variable rate, so the 10% to 11.5% headline can move.
- Support runs on phone, chat and help centre only, with no email channel listed.
- Profit is paid monthly in the opening days of the month after, so the return arrives in steps rather than daily.
Who it suits
- Readers in Pakistan who want a high return and immediate access to their savings.
- Anyone building a short emergency pot, since withdrawals carry no penalty.
- Customers already with the group, who can pair the account with a debit card for travel use.
Who should look elsewhere
- Readers after a locked return: the variable rate on this easy access account is not fixed for a term.
- Anyone chasing a higher ceiling, since Finteres lists 0% to 36%.
- Readers who want a European provider rather than a PK one: bunq pays 3.01% and Wise 3.29%.
How Mashreq Bank Pakistan compares
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Where Mashreq Bank Pakistan is available
- Available
- Pakistan
- Licence in Pakistan
- State Bank of Pakistan, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the Neo Islamic Savings account pay?+
The headline profit rate is 10% to 11.5%, and it is a variable rate, so the return follows the bank's own pricing rather than a fixed deal. Profit is credited monthly in the opening days of the month after, which suits readers who put access ahead of locking a rate.
What does it cost to hold the account?+
There is a PKR 0 monthly charge and a PKR 0 minimum deposit, and the account runs on the no monthly fee model. Withdrawals carry no penalty and ATM withdrawals are free, so running the account does not eat into the profit rate.
Can I get at my money quickly?+
The account is listed as easy access, and funds can be withdrawn whenever you want with no withdrawal penalty. ATM withdrawals are free and profit is paid monthly, so there is no early access charge to plan around.
Who regulates the bank behind the account?+
The account is provided by Mashreq Bank Pakistan Limited, based in Pakistan and supervised by the State Bank of Pakistan. Anyone weighing the safety of the balance should read the account terms with the bank to see what applies if the provider fails.
Which card comes with the account?+
The account pairs with a debit card on the mastercard network, listed with a travel feature. That covers day to day spending and travel use, and ATM withdrawals stay free on cash taken out with it.
How does this rate compare with the rest of the market?+
The median savings rate across the site is 3.06% and the upper quartile is 4.5%. The headline here is 10% to 11.5%, well above both, though it sits on a different market and can move because the rate is variable.
How do I get help if something goes wrong?+
Help runs on phone, chat and help centre, covering phone, chat and a help centre. There is a card element as well, with the debit card on mastercard handling everyday spending, so most quick questions can be sorted without a branch visit.
Who is this account for?+
It fits readers in PK who want a high variable return and the freedom to withdraw without penalty. The provider has been trading since 1967, and the no monthly fee model keeps the balance from being eaten by a monthly charge.
Sources
- mashreq.com/en/pk/about-us checked September 26, 2026
Backs: Headquarters, Legal entity, Licences
“Registered Office / Head Office Address: Plot # 22C, Lane 8th, Khayaban-e-Ittehad, DHA Phase 6, Karachi”
- mashreq.com/en/pk/home checked September 26, 2026
Backs: Founded, Support channels
“Mashreq ... has been providing banking and financial services to millions of customers and businesses since 1967”
- mashreq.com/en/pk/neo checked September 26, 2026
Backs: Minimum deposit
“There is no minimum balance requirement to open or maintain an account with Mashreq.”
- mashreq.com/en/pk/neo/accounts/neo-islamic-savings checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Pricing model, Monthly fee, Rate type
“Yes, you can withdraw funds anytime ... No, there are no penalties on withdrawals. Additionally, all ATM withdrawals are free.”
- mashreq.com/en/pk/neo/cards/mastercard-debit checked September 26, 2026
Backs: Card type, Features, Card network
“Mashreq NEO Mastercard Debit Card”
- mashreq.com/en/uae/neo/loans/personal-loans/pl-new-customers checked September 26, 2026
Backs: Loan amount, APR, Eligibility, Lender type, Loan types, Term, Use cases
“Avail loans up to 20X your salary and as high as AED 2 million; calculator from AED 10,000”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Deposit protection.
Mashreq Bank Pakistan
A high, flexible return on a easy access basis with a PKR 0 monthly charge.