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Mashreq Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Mashreq Bank pays 6.25% on its easy-access saver, well above the typical 3% on the site, and it charges no monthly fee. It suits UAE residents who spend from the same account daily, while borrowers on a modest salary may find the lending side harder to qualify for.

Key facts

Best for
UAE residents wanting a high easy-access rate on money they still spend.
Headline rate
6.25%↗
Rate type
Variable↗
Term
6 to 60 months↗
Minimum deposit
AED 0↗
Access terms
2 free debit transactions per month; more debits forfeit that month's interest; UAE residents with an active Mashreq NEO account only↗
Monthly fee
AED 0↗
Account kind
Easy access↗
Legal entity
Mashreqbank PSC↗
Headquarters
United Arab Emirates↗
Founded
1967↗
Support channels
Phone, Help-centre, Chat, Email↗
Pricing model
No monthly fee
Official website
mashreqbank.com

Loans

APR
2.99% to 36%↗
Loan amount
AED 10,000 to AED 2,000,000↗
Arrangement fee
Processing fees↗
Credit check
Hard↗
Funding time
5 minutes application process, amount credited to your Mashreq account after income verification↗
Lender type
Direct lender↗
Eligibility
UAE residence visa and Emirates ID; minimum monthly salary AED 5,000 for approved companies and AED 8,000 for unapproved companies; salary transfer required; instalments capped at 50% of salary↗
Loan types
Personal, Debt-consolidation↗
Use cases
Home-improvement↗
Features
Multi-currency

Credit cards

Audience
Kids

Debit cards

Card type
Debit↗

Mortgages

Purpose
Purchase↗

Facts checked September 26, 2026, 9 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
LinkedInXapps.apple.com

Pros and cons

Pros

  • Multi-currency balances, the multi currency feature, so savings can sit in more than one currency.
  • Support runs on phone, help centre and chat.
  • The same bank lends at 2.99% to 36% APR, so saving and borrowing can stay in one place.

Cons

  • Extra debit transactions forfeit the interest for that month, and the saver is for UAE residents with an active Mashreq NEO account only.
  • The rate is variable, so the 6.25% you read today can move.
  • Borrowing runs at 2.99% to 36% APR with a hard credit check, and the salary transfer and minimum salary rules narrow who qualifies.
Mashreq Bank

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Scored 9.6 / 10 by SumCue.

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Who it suits

  • UAE residents who already hold an active Mashreq NEO account.
  • People keeping cash they still need to spend rather than locking away.
  • Salaried UAE workers who transfer their salary to the bank and want to borrow from it as well.

Who should look elsewhere

  • bunq, paying 3.01%, if you want a European saving account and can accept a lower headline rate.
  • wise, at 3.29%, if you are outside the UAE and prefer a lower rate to a local account.
  • finteres, whose rate runs 0% to 36%, if you are shopping the rate range rather than the top easy-access number.

Fees and FX

The saver has no opening hurdle and no running cost. The minimum deposit is AED 0 and the monthly fee is AED 0, so the size of your balance does not decide what you are paid, and nothing is taken out while the money sits. The headline rate is therefore the whole number to compare. A reader can start with a small amount and let it grow before topping up.

Rates and card terms

The savings rate is 6.25% and it is variable, so the bank can move it and your return moves with it. The same bank lends at an APR of 2.99% to 36% over a term of 6 to 60, which is the number to weigh if you borrow rather than save. The rate you read today is not locked for a fixed period.

How Mashreq Bank compares

Where Mashreq Bank is available

Available
Bahrain, Egypt, Hong Kong, India, Kuwait, Oman, Qatar, United Arab Emirates, United Kingdom, United States
Licence in United Arab Emirates
Central Bank of the United Arab Emirates, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does Mashreq Bank pay on its saver?+

The NEO Plus Saver pays 6.25%, well above the typical 3% for savings accounts on the site. The rate is variable, so the number can move with the bank's pricing rather than staying fixed for a set term.

What does it cost to hold the account?+

The monthly fee is AED 0 and the minimum deposit is AED 0, so there is no charge to open the account and nothing taken out each month. What you are paid is the headline rate itself, with no monthly deduction set against it.

Who regulates the bank?+

Mashreq Bank operates as Mashreqbank PSC and is licensed by the Central Bank of the United Arab Emirates, the banking regulator named for the country. The savings account is held with that bank rather than an intermediary, and the bank is a direct lender rather than a broker.

Can I get at my money whenever I want?+

The saver is an easy access balance, so it is not tied up for a fixed period. Debit transactions come with a free allowance each month, and going past that allowance forfeits the interest for that month, so it pays to watch how often you tap the account.

Who can open the account?+

The saver is for UAE residents who already hold an active Mashreq NEO account, so it suits people banking with the bank already. Mashreq Bank is headquartered in United Arab Emirates, and the platform also lists kids among the audiences it serves.

Can I borrow from the same bank?+

Personal loans and debt consolidation run at an APR of 2.99% to 36% over terms of 6 to 60, with borrowing of AED 10,000 to AED 2,000,000 possible. The bank lends directly, and the listed use covers home improvement as well as general personal needs.

How long does a loan take to arrive?+

The application takes a few minutes, and the amount is credited to your Mashreq account once your income is verified. A hard credit check is part of the process, so the timing depends on that check clearing rather than on the application alone.

How do I reach the bank if something goes wrong?+

Support runs on phone, help centre and chat, so you can pick up the phone, use the help centre, start a chat or send an email. Phone and email are the most common routes among savings accounts on the site, with phone used by 80.2% of them.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Deposit protection.

Mashreq Bank

Mashreq Bank

UAE residents wanting a high easy-access rate on money they still spend.

9.6/10See alternatives