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 (VAT not applicable) | 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) (Exclusive of VAT) | 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 (Exclusive of VAT) | |||
| 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 |