Mashreq Neo Bank
With the advent of technology and digital platform, a similar move is observed in the banking sector. One of the torchbearers for the same in the UAE is the Mashreq Neo Bank, which is a ‘digital-only’ financial institution. With Mashreq Neo Bank, you can enjoy branchless banking with excellent digital services, meaning hassle-free banking and access to award-winning services.
Similar to a regular account, you can expect a wide range of products and services offered by Mashreq Neo Bank. We will discuss the salient ones in the article below to help you get an idea of Mashreq Neo Bank products.
Bank Account 
Credit card
Products and Services Offered by Mashreq Neo Bank
Mashreq Neo Bank provides the following services and products
| Current Accounts | Savings Accounts | Non-Resident Account |
| Quick Remit | Debit Cards | Mashreq Millionaire |
| MaxSaver | Insurance | Investments |
| Loans | Offers |
Online and Offline Features of Mashreq Neo Bank
Here are the key characteristics of Mashreq Neo Bank
| Online Features | Offline Features |
|---|---|
| Completely Digital Banking | - |
| Easy Access to Accounts | - |
| Insurance and Investment Offerings | - |
Mashreq Neo Bank Offerings
Tabled below are the major products and services offered by the Mashreq Neo Bank –
| Personal Products Offered | |
|---|---|
| Current Accounts | Neo Smart |
| Neo Salary | |
| Savings Accounts | Neo Savings |
| Non-Resident Account | Non-Resident Indian Account |
| Quick Remit | - |
| Debit Cards | - |
| Mashreq Millionaire | - |
| MaxSaver | - |
| Insurance | Digital Term and Critical Illness |
| Car Insurance | |
| Investments | Stock Trading Account |
| Gold Trading Account | |
| Forex Trading Account | |
| Loans | - |
| Offers | Salary Transfers |
| Early Bird Cashback | |
| Debit Card Offers | |
| Salaam Rewards | |
Current Accounts
1. Neo Smart
Mashreq's Neo Smart is a digital current account that greatly simplifies the process of banking. You can download the Mashreq Neo app and access this account to manage your banking on your smartphone.
Highlights
- Access to international stock exchanges
- Option to invest in international currencies and gold
- Receive cashback on each transaction within the initial 3 months
- 1.2% per annum MaxSaver Interest
- Quick remittances
- Smartphone banking
- Enhanced security with the latest security measures
- First chequebook free
- Complimentary Platinum debit card
2. Neo Salary
You can access plenty of benefits with the NEO Salary Account and use it online for a convenient banking experience.
Highlights
- Get up to AED 2,500 in cashback
- Access to international stock exchanges
- Facilities to invest in international currencies and gold provided
- Receive cashback on each transaction within the initial 3 months
- 1% (per annum) MaxSaver Interest
- Straightforward remittances
- Smartphone banking
- First chequebook provided for free
- Complimentary Visa Neo debit card
Savings Accounts
1. Neo Savings
Neo Savings Account is your one-stop solution for all your requirements related to savings and an option to easily access your account online.
Highlights
- Interest rate of 0.15% per annum
- No paperwork
- Receive dining, lifestyle, and travel privileges
- Quick remittances
- Free Gold Investment Account application
- Complimentary Platinum debit card
Non-Resident Account
1. Non-Resident Indian Account
The Non-Resident Indian Account is one of the most suitable options for NRIs wanting to avail of excellent banking services in a digital-only mode.
Highlights
- Competitive interest rates
- Quick account opening
- Free money transfers
- Option to see account balance in INR and AED
- Real-time account activation monitoring
- Dedicated customer care
Quick Remit
Instead of engaging in a time-consuming process of transferring funds, you can easily utilise the Quick Remit service of Mashreq Neo Bank and swiftly make money transfers to over 35 global destinations.
Highlights
- Instant fast transfers
- 24/7 transfers
- Flat fees
Neo Debit Cards
The Neo Debit Card has been designed keeping in mind the requirements of the modern customer and includes multiple attractive features along with the ease of transactions.
Highlights
- Worldwide acceptance
- Exclusive deals
- Offers related to lifestyle and travel
- Salaam Points earned on transactions
Mashreq Millionaire
With Mashreq Millionaire, you stand a chance to win AED 1 million! As a user, you can take part in the draw (quarterly and monthly) by purchasing Mashreq Millionaire Certificates.
MaxSaver
You can apply for a MaxSaver account to take advantage of a high-interest rate combined with the flexibility of savings.
Highlights
- Rates of interest up to 1.2%
- Easy account opening procedures
- 24/7 account access
- Zero minimum balance requirement
- No processing fees
- Monthly one debit transaction
Neo Insurance
1. Digital Term and Critical Illness
With Neo Digital Term and Critical Illness insurance, you can get digital term and critical illness coverage online. This can allow you to avail of proper coverage online and have peace of mind with respect to you and your loved ones.
Highlights
- Coverage provided by Oman Insurance Company
- Tailored insurance premium
- No medical exams or paperwork needed
- Policy customisation available
2. Car Insurance
Car insurance, besides being mandatory in the UAE, is necessary if you wish to have financial security in case your vehicle is damaged in an accident.
Highlights
- 0% EPP for initial 6 months
- Complimentary home contents coverage
- Pick up and drop off services
- NCD (no-claim discount) provided
- 24/7 customer care
Investments
1. Stock Trading Account
Highlights
- Real-time stock trading
- Tech tools and analysis provided
- Competitive pricing
- Quick account opening
2. Gold Trading Account
Highlights
- 24-hour trading access
- 24/7 gold-to-cash conversion
- Competitive pricing
- Zero storage costs
3. Forex Trading Account
Highlights
- Forex market access in real time
- Investment portfolio diversification
- Competitive pricing
- 24/7 forex-to-cash conversion
Neo Loans
If you need cash for any personal requirement on an urgent basis, you can easily come to Mashreq Neo Bank to get instant and flexible loans and find the required funds for those needs.
Highlights
- High loan amount of up to AED 20,000
- Flexible repayment tenure ranging from 1 month to 18 months
- No documentation requirement
- Competitive able interest rates
- Salary transfer not required
Offers
1. Salary Transfers
Enjoy cashback for your salary transfer to Mashreq Neo.
| Salary Transfer per Month (in AED) | Cashback Amount (in AED) |
|---|---|
| 5,000 to 9,999 | 200 |
| 10,000 to 19,999 | 500 |
| 20,000 to 49,999 | 1,000 |
| 50,000+ | 2,500 |
2. Early Bird Cashback
Earn up to AED 350 cashback by making transactions within the initial 90 days via Neo debit cards, Quick Remit, and more.
3. Debit Card Offers
Here are the key debit card offers provided by Mashreq Neo Bank.
Highlights
- Up to 5% discount on NowNow using the promo NEO15
- Up to 10% discount on Hamples with the promo code MASHREQ
- Earn a 10% discount on Mumzworld with Mashreq Neo debit card purchases
4. Salaam Rewards
You can earn Salaam Rewards by using Mashreq Neo Bank services and redeem these points later for expenditures related to dining, flights, hotels, shopping, and more.
Awards and Achievements of Mashreq Bank
| Year | Awards | Awarded by |
|---|---|---|
| 2022 | Best Private Bank - UAE | Global Private Innovation Awards |
| 2021 | Best Private Bank in UAE | Global Private Innovation Awards |
| 2021 | Outstanding Private Bank Middle East | Private Banker International (MEED) |
| 2019 | Best Private Bank Servicing the UAE | Wealth Briefing Awards |
| 2019 | Best Private Bank – Investment Management Platform | WealthBriefing MENA |
Mashreq Bank Customer Care
| Private Customer Care |
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| Gold Customer Care |
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| Business Customer Care |
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| Personal Customer Care |
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FAQ's
Ans: Neo Bank is a type of bank that emphasises the usage of the latest technology to deliver an online banking experience in line with the expectations of the modern customer.
Ans: There is no offline presence of Mashreq Neo Bank, as it is a digital-only bank.
Ans: You can visit the official website of Mashreq Neo Bank to apply for any of its loan products online.
