and your mind dreams of.
Schedule of Charges
Disclaimer: With effect from 19th June`18, all fees & charges mentioned below are subject to additional 5% Value Added Tax (except the fee & charges where stated explicitly they are exclusive of VAT
Current Account | Current Gold | |
Initial Deposit | AED 3,000 or equivalent in the case of a foreign currency account | AUM * |
Monthly Minimum Balance requirement or equivalent in the case of a foreign currency account | AED 3,000 | AUM* |
Fall below fee | AED 25 per month or equivalent in the case of a foreign currency account | N/A |
No of free transactions - other than ATM & Online | 6 per month | Unlimited |
Additional transaction fee | AED 10 | N/A |
Account closure charges (if closed within 1 year of opening) | AED 100 | |
Account Balance Letter | AED 50 | |
No Liability Certificate | AED 60 | |
Liability Letter | AED 60 | |
Release Letter | AED 50 |
* Maintain a monthly salary transfer of AED 50,000 and/or monthly average relationship balance of AED 300,000 in deposits or investments and/or a home finance relationship balance of AED 2,500,000. T&C apply.
Savings Account | Easy Saver | |
Initial Deposit | AED 3,000 | AED 500 |
Monthly Minimum Balance requirement | AED 3,000 | N/A |
Fall below fee | 25 per month | N/A |
No of free transactions - other than ATM & Online | 6 per month | Unlimited online transactions |
Additional transaction fee | AED 10 | N/A |
Account closure charges (if closed within 1 year of opening) | AED 100 | AED 100 |
Account Balance Letter | AED 50 | AED 50 |
No Liability Certificate | AED 60 | AED 60 |
Liability Letter | AED 60 | AED 60 |
Release Letter | AED 50 | AED 50 |
All Other Accounts | MashreqGold | |
Regular Statement | Free Quarterly | Free Monthly |
Additional Statement | AED 25 | Free |
Description | Term Investment A/c (Mudarabah) | Wakala |
Minimum Amount | AED 10,000 | AED 100,000 |
Maximum Amount | No limit | No limit |
Tenor | 1 month to 1 year | 1 month to 1 year |
Premature Withdrawal Rate | Rate of last completed tenor | Rate of last completed tenor |
Partial Withdrawal | Not allowed | Not allowed |
Profit Rate | As disclosed by Bank every quarter | As per Wakala Contract |
All other Account holders | Mashreq Gold | ||
Additional Cheque book request (First Cheque book complimentary) | AED 1 per leaf | Free | |
Local Cheque Clearing - Normal | Free | Free | |
Special Clearing | AED 205 | AED 205 | |
Foreign Currency Cheque collection | AED 50* | AED 50* | |
Stop payment (per instrument/cheque) | AED 50 | AED 50 | |
Cheque returned - Drawn on own account | AED 100 | AED 100 | |
PDC custodial service | AED 5 per cheque | AED 5 per cheque | |
Request for copy of Old Cheques/ Documents | < = 1 year | AED 10 | AED 10 |
> 1 year | AED 20 | AED 20 | |
*Plus Clearing/ Drawee bank charges and courier charges, if any. |
All other Account holders | Mashreq Gold | ||
Drafts / PO | |||
Issuance | Branch | AED 30 | AED 30 |
Electronic* | AED 20 | AED 20 | |
Cancellation | Free | Free | |
Wire Transfer | |||
Outward | Branch | ||
International | AED 75** | AED 55** | |
Domestic | AED 5** | AED 5** | |
Electronic* | |||
International | AED 25** | AED 25** | |
Domestic | AED 1** | AED 1** | |
Recall of TT Funds/ TT Return/ Investigation of TT Status | AED 50 | AED 50 | |
SWIFT copy charges | AED 15 | AED 15 | |
Inward Remittance (AED or Foreign Currency) | Free | Free | |
*Transactions originating from Online and Mobile Banking | |||
**Plus beneficiary bank and intermediary bank charges |
Minimum of AED 50 or the fees below, whichever is higher: | |||
Type of Transaction | Personal Banking | Mashreq Gold | Private Banking |
Same Currency FCY Withdrawal / Deposit of Cash <= AED 1,000,000 Eqvt | 1.00% | 1.00% | 1.00% |
Same Currency FCY Withdrawal / Deposit of Cash > AED 1,000,000 Eqvt | 1.50% | 1.50% | 1.50% |
Cross Currency FCY Withdrawal / Deposit | Waived | Waived | Waived |
All other Account holders | Mashreq Gold | ||
Set-up/ Amendment Charges | AED 50 | AED 50 | |
Account to Account Transfer (within Mashreq UAE) | Free | Free | |
SI not effected due to insufficient funds | AED 25 | AED 25 | |
Fund transfer through DD or PO or Wire Transfer | Please refer to "Remittance Charges" section |
All other Account holders | Mashreq Gold | |
Access and Usage Fee | Free | Free |
Bill Payment Fee | Free | Free |
Enquiries and Online Statements Fee* | Free | Free |
Mobile Alerts Fee | Free | Free |
Description | Charges |
Lodgment of Direct Debit Authority Request | 200 |
Direct Debit Authority Amendment | 200 |
Direct Debit Authority Cancellation | 200 |
Processing of Stop Payment Requests | 200 |
DDR Return Due to insufficient funds | 100 |
Bill Payment | All other account holders | Mashreq Gold | |
Utility (DEWA, SEWA, ADDC), Phone (Etisalat, Du) and Salik | Branch | Not available | Not available |
Electronic* | Free | Free | |
Non-Mashreq credit card Payments** | Branch | Not available | Not available |
Electronic* | AED 10 | AED 10 | |
*Transactions originating from Internet Banking, Mobile Banking, SMS Banking and ATM |
All other Account holders | Mashreq Gold/Private Banking* | ||
Debit Card (initial) | Free | Free | |
Supplementary Card | Free | Free | |
(including Supplementary Card for Joint Accountholder) | |||
Debit Card Replacement Charge (inclusive of VAT) | AED 26.25 | Free | |
Debit Card Currency Conversion Fee*** | ~ 2.00% | ~ 2.00% | |
Cash Withdrawal | Mashreq ATM's (in UAE) | Free | Free |
Other banks ATM (in UAE) | AED 2.00 | Free | |
Other banks ATM (in GCC) | AED 6.00 | Free | |
Other banks ATM (Internationally) (inclusive of VAT) | AED 21.00 | Free | |
Balance Inquiry transactions | Mashreq ATM's (in UAE) | Free | Free |
Other banks ATM (in UAE) | AED 1.00 | AED 1.00 | |
Other banks ATM (in GCC) | AED 3.00 | AED 3.00 | |
Other banks ATM (Internationally) (inclusive of VAT) | AED 3.15 | AED 3.15 | |
Declined transactions | Mashreq ATM's (in UAE) | Free | Free |
Other banks ATM (in UAE) | AED 1.00 | AED 1.00 | |
Other banks ATM (in GCC) | AED 3.00 | AED 3.00 | |
Other banks ATM (Internationally) (inclusive of VAT) | AED 3.15 | AED 3.15 | |
Retrieval of sales slip | AED 25 | AED 25 | |
International Transaction Fee (DCC) | 1.25% | 1.25% | *Applicable only to Mashreq Gold & Private Banking Platinum Debit card members |
*** Excludes processing fee charged by the Association. |
Finance | Personal Finance | Home Finance | Car Finance |
Profit Rate for Expatriate (VAT not applicable) |
3.45% to 19.61% (Equivalent Reducing rate 6.49% to 31.99%) |
Profit Rates linked to EIBOR | 3.45% to 5.50% (Equivalent Reducing rate 6.49% to 10.01%) |
Profit Rate for Emirati (VAT not applicable) |
3.18% to 7.19% (Equivalent Reducing rate 5.99% to 10.01%) |
Profit Rates linked to EIBOR | 3.45% to 5.50% (Equivalent Reducing rate 6.49% to 10.01%) |
Processing Fee (Exclusive of VAT) | 1% of the finance amount | 1% of the Finance Amount for Residential Financing | 1% of the finance amount |
Minimum | AED 500 | AED 500 | |
Maximum | AED 2500 | Subject to offer | AED 2500 |
Life (Takaful) Insurance charges (Exclusive of VAT) | 1.25% of the finance amount | 0.35% p.a. of the finance amount/Subject to offer | N/A |
Property (Takaful) Insurance charges | N/A | Up to 0.06% per annum of the property value /Subject to offer | N/A |
Additional Finance Facility charges (Exclusive of VAT) | 1% of the additional amount | 1% of the additional amount/Subject to offer | N/A |
Minimum | AED 500 | N/A | |
Maximum | AED 2500 | N/A | |
Postponement Fee (Exclusive of VAT) |
AED 100 per postponement | N/A | AED 100 per postponement |
Late Payment Fee (Charity) (VAT not applicable) | 2% of the delayed amount | AED 700 | 2% of the delayed amount |
Minimum | AED 50 | AED 50 | |
Maximum | AED 200 | AED 200 | |
Pre-termination Compensation (VAT not applicable) | |||
Through other Banks |
1% of the remaining balance or AED 10,000, whichever is lower |
3% of outstanding for first 5 years and 2% post 5 years. | 1% of the remaining balance or AED 10,000, whichever is lower |
Additional Finance Facility | 1% of the remaining balance or AED 10,000, whichever is lower |
NIL | N/A |
Through own Sources | 1% of the remaining balance or AED 10,000, whichever is lower |
In case of settlement via Own funds/Sale of property
|
1% of the remaining balance or AED 10,000, whichever is lower |
Partial Settlement from all sources including EOSB | 1% of the remaining balance or AED 10,000, whichever is lower |
NIL |
1% of the remaining balance or AED 10,000, whichever is lower |
Re-validation Fee | N/A | AED 500 | N/A |
Property Evaluation Fee (Exclusive of VAT) | N/A | AED 2500 | N/A |
Pre-approval Charges | N/A | AED 1000 | N/A |
Temporary/Permanent Release / Clearance Letter | N/A | AED 95 | Nil |
Liability Letter addressed to other Bank (Exclusive of VAT) | AED 60 | AED 85 | AED 60 |
Change of Number Plate | N/A | N/A | NIL (security deposit of AED 200 for individuals & AED 500 for companies) |
Change of due date on standing instruction (Exclusive of VAT) |
Nil | AED 500 | AED 25 |
Change of PDC / Recovery Account | Nil | Nil | Nil |
Finance rescheduling fee (Exclusive of VAT) | AED 250 | N/A | AED 250 |
Finance cancelation fee (Inclusive of VAT) | AED 100 | N/A | AED 100 |
Agency Fee (Exclusive of VAT) | AED 500 | Subject to offer | N/A |
Other
(finance copy, Issuing redemption statement, audit confirmation etc) (Exclusive of VAT) |
25 | AED 500 | Nil |
Issuance of NOC (Exclusive of VAT) | - | AED 150 | - |
Property Swap admin fee- Including Valuation (Exclusive of VAT) | - | AED 1320 | - |
Non-standard statement production / copy of original documentation (Exclusive of VAT) | - | AED 100 | - |
Request of other letters (Exclusive of VAT) | - | AED 90 | - |
Other Certificate (Exclusive of VAT) | - | AED 75 | - |
Mashreq Al Islami Platinum Credit Card | Charges (AED) |
Principal Annual Fee | AED 650 – Effective November 2018 |
Monthly Tawarruq Profit rate | Tawarruq Profit rate of 3.45% p.m. Effective November 2018 |
Monthly Tawarruq Profit Rate – Cash Advance | Tawarruq Profit cash rate of 3.75% p.m. Effective November 2018 |
Cash Advance Fee | AED 100 per transaction |
Supplementary Annual Fee | AED 149 - Effective November 2018 |
Card Replacement Fee (Primary or Supplementary) | AED 75 |
Maintenance Fee | No Charge |
Minimum Payment | At least 5% of the outstanding balance or AED 50 |
Auto Payment | 5% or 100% |
Tap and Go Sticker Replacement Fee | Not Applicable |
Returned Cheque Fee | AED 300 |
Late Payment Penalty (To charity) | AED 230 |
Over Limit Fee | AED 279 |
Additional Copy of Statement | AED 15 |
Foreign Currency Conversion | Fee ~2.79% (in addition to the standard processing fee charged by MasterCard or Visa on foreign ccy transactions only) |
International Transaction Fee | 1.25% (2.79% - Effective 20th September 2018) |
SMS Service | No Charge |
Processing Fee for Profit Free EPP Offers | 0% |
Profit Free EPP (Installment Plan) Cancellation (only applicable for 0% EPP offers) | AED 250 |
Credit Card Payment at Mashreq Branches | AED 25 |
Credit Card Payment at 3rd Party Locations | No Charge |
International Card Delivery | AED 200 |
Credit Shield (Takaful) | Charged at 0.89% of the outstanding amount |
Paper Statement Fee | AED 5 |