Mashreq has introduced the NEO PLUS Saver Account, a high-yield digital savings product offering interest rates of up to 6.25% per annum and cashback rewards of up to AED 5,000 (USD 1,360). Available exclusively via the Mashreq Mobile App, the product aims to simplify personal finance by combining competitive returns with seamless digital access.
This savings solution caters to both salaried and non-salaried customers, without requiring sign-ups for other financial products like loans or credit cards. According to Mashreq, it is one of the most attractive personal banking propositions currently available in the region.
Flexible Options for All Customers
For salaried individuals transferring at least AED 10,000 (USD 2,720) monthly, the account offers a 6.25% annual interest rate. In addition, users can receive:
- AED 3,500 (USD 950) in salary bonus
- AED 1,500 (USD 410) Early Bird cashback, including spending and remittance rewards
Meanwhile, non-salary customers are eligible for:
- 5% annual interest on balances of AED 50,000 (USD 13,600)
- AED 1,500 (USD 410) Early Bird cashback, which includes 5% cashback on debit card purchases and AED 300 (USD 82) on international transfers
Unlike many comparable products, NEO PLUS requires no bundling with other banking services to unlock full benefits.
A Smarter, Transparent Banking Proposition
Commenting on the launch, Fernando Morillo, Group Head of Retail Banking at Mashreq, stated:
“We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions. With NEO PLUS Saver Account, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.”
Radu Topliceanu, Global Head of NEO at Mashreq, added:
“Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers’ lives. With NEO PLUS Saver Account, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.”
The account can be opened instantly and offers access to various wealth-building tools. These include fee-free U.S. stock trading, mutual funds, bonds, and thematic investment options—all integrated within the mobile platform.
