Basic Savings Account

Savings made easy

with great returns

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Based on the Islamic Structure

Mudarabah

Instant Visa Debit Card

worldwide acceptance

Quarterly profit payouts

Based on Mudarabah pool rates

The easiest way to earn high anticipated returns on your savings

The Basic Savings Account from Mashreq Al Islami gives you the freedom to make your banking transactions at no cost, while earning anticipated profit on your account balance.

Easy account set-up

You need an initial balance of AED 3,000 to set up your account. Then withdraw cash at more than 1.8 million ATMs in over 200 countries with ease.

Get up to AED 4,000

Enjoy a salary transfer cashback up to AED 4,000 when you open a Islamic NEO Savings Account & transfer your salary. Your cashback depends on the monthly salary deposited.
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Earn Joining Bonus based on your transferred salary

Monthly Salary Range Cashback* Additional cashback**
AED 5,000-9,999 AED 100 AED 100
AED 10,000-19,999 AED 350 AED 250
AED 20,000-49,999 AED 1,000 AED 800
AED 50,000 & above AED 2,500 AED 1,500
For more details, visit mashreqalislami.com/tncs. *Applicable for accounts with first salary credited on or after 01 August 2026. The payout will be credited in 12 monthly instalments **An additional early bird cashback will be credited to customers who transfer their salary within first 90 days of opening their account

Enjoy Early Bird Cashback

Make transactions in the first 90 days and enjoy up to AED 9,500 cashback

Up to AED 500: Invest USD 100 or more on Shariah compliant investments through Mashreq
Up to AED 4,000: Transfer your salary and enjoy cashback
Up to AED 200: Shop and earn 2% cashback when you enrol your Mashreq Al Islami NEO Debit Card on any digital wallet (Apple Pay, Google Pay or Samsung Pay)
Up to AED 300: Send AED 3,000 or more with Quick Remit to 40+ countries
Up to AED 2,000: Get referral cashback (AED 100 each) when you refer up to 20 friends to join Mashreq Al Islami - NEO*
Up to AED 2,500: Apply for a new islamic credit card and meet the required spending criteria* *Referral and credit card cashback benefits can be availed beyond the first 90 days.
Free Visa Debit Card
Once you open your account, you will receive your Mashreq Al Islami Debit card within 2 working days so you have access to your funds.
Instant account opening
It's easy to open your account. Simply download the Mashreq Mobile app to apply
Visa Debit Card offers
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Eligibility

Minimum monthly income AED 5,000
Requirement Valid Emirates ID
Age Must be 18 years old and above. A minor (below the age of 18) can apply along with a guardian

You will need

Valid passport
A valid Emirates ID

Profit Equalisation Reserve
The Bank maintains a Profit Equalisation Reserve (PER) for the purpose of smoothening the returns to the Mudarabah account holders. The PER is deducted from Mudarabah income before deduction of the Bank’s share.

Investment Risk Reserve
The Bank maintains an Investment Risk Reserve (IRR) for the purpose of protecting the Mudarabah account holders from any investment losses in the future. The IRR is deducted from Mudarabah income after deduction of the Bank’s share.

Are you ready to apply?

Transparency

Key Facts Statement
Profit Distribution Weightages
Profit Rates

Still got questions?