MashreqMillionaire FAQ
How can I purchase MashreqMillionaire savings certificates?
Buying MashreqMillionare certificates is simple and convenient. You can buy them from any one of the 47 Mashreq branches across the Emirates, call our 24 hour Direct Banking Center on +971 (4) 217 4 800 or SMS 'MM' to 4250. You pay a nominal processing fee of AED 35 for each transaction, irrespective of the number of certificates you buy. This means that even if you buy 100 certificates, the processing charge remains as low as AED 35.
Who can invest in MashreqMillionaire?
MashreqMillionaire Certificates can be bought by all holders of a valid resident, visit or transit visa of the U.A.E and all GCC nationals. These certificates cannot be jointly held and are non-transferable
How are the draws conducted?
Each MashreqMillionaire draw is conducted and supervised by the Department of Economic Development, Government of Dubai. All certificates that fulfill the eligibility criteria are included in the draw, so, the more certificates you hold, the more opportunities you have to become a MashreqMillionaire.
What is the holding period requirement to participate in a draw?
In order to participate in a draw, you need to purchase your certificates by the announced deadline date and hold your certificates till the draw date.
What happens if I win?
The winning amount is automatically credited to your MashreqMillionaire holding so you are guaranteed to receive the prize money even if you are not immediately available to claim it. Winners are notified by telephone and/or mail. Therefore, please ensure that the Bank has your complete and updated address at all times.
Are there any cancellation charges?
There are no cancellation charges and the certificates can be redeemed for their full or partial face value at any time.
How do I en-cash my certificate(s)?
You can en-cash your certificates in part or full, across the counter at any of the Mashreq branches. All you need is the original certificate(s) and a valid proof of identity.
Do I have to encash my certificates if I need cash in the short term?
You need not en-cash your MashreqMillionaire certificates to meet your short term cash requirements. You can utilize an attractive overdraft facility that allows you to obtain 95% of your original investment against them. This facility is offered at low interest rates and allows you to remain eligible for the draws. Similarly, if you have 10 or more certificates you are also pre-approved for the MashreqMillionaire Gold Credit Card. The credit card offers a cash advance facility that you can utilize at a low interest rate.
How can I increase my chances of winning in the MashreqMillionaire Draws?
By purchasing Liened MashreqMillionaire, you can now increase your chances of winning in the MashreqMillionaire draw without spending an extra AED 1,000. Liened MashreqMillionaire (LMM) Certificates give you an extra entry into all MashreqMillionaire draws, increasing your chances of winning.
No. of LMM Certificates | Price (for issuance & renewal) |
|---|---|
| 1-9 | AED 59.50 per certificate |
| 10-49 | AED 49.50 per certificate |
| 50+ | AED 39.50 per certificate |
You can buy LMMs based upon the number of MashreqMillionaire certificates you have as per the following grid:
No. of MM Certificates | Maximum LMM eligibility Ratio |
|---|---|
| 1-19 | 1.0 time |
| 20-39 | 1.25 times |
| 40+ | 1.5 times |
For example, if you have 20 MashreqMillionaire certificates, you can purchase up to 25 LMMs, at the rate of AED 39.50 per LMM.
Please Note: Each LMM certificate is valid for one year from the date of purchase and cannot be en-cashed