MashreqMillionaire FAQ
What is the prize structure of MashreqMillionaire in 2010?
MashreqMillionaire introduces the biggest ever single cash prize of AED 10 Million. The bumper draw will take place in June 2010. It also introduces 20 prizes of AED 10,000 each every month. This is in addition to the monthly AED 1 Million prize.
How can I increase my chances to win the bumper AED 10 Million prize?
MashreqMillionaire introduces the new ‘multiplier option’ wherein you can multiply your chances up to 6 fold to win the bumper AED 10 Million. The sooner one saves with MashreqMillionaire, the more chances you get to win the mega prize of AED 10 Million!
Customers saving in January will get complimentary bonus entries into the bumper draw, increasing their chances six fold! Customers saving in February will get as many as five chances of winning where as customers saving in March will quadruple their chances (odds) of winning. The bonus entries will reduce as the draw month approaches.
For instance, a customer saving a minimum of 10 certificates in January will have 60 chances to enter the bumper draw but the same customer saving in February will have 50 chances and so on and so forth, with the bonus entries reducing as the draw month approaches
| Your Bonus Entry Calculator | ||||
|---|---|---|---|---|
| Month of Saving | Certificates Purchased | Bonus Entries Matrix | Total Entries Into Draw (actual + bonus) | |
| (No. of Certificates X times) | Bonus Entries | |||
| On or before 31st Dec 2009 | 10 | x 5 | 50 | 60 |
| Jan-10 | 10 | x 5 | 50 | 60 |
| Feb-10 | 10 | x 4 | 40 | 50 |
| Mar-10 | 10 | x 3 | 30 | 40 |
| Apr-10 | 10 | x 2 | 20 | 30 |
| May-10 | 10 | x 1 | 10 | 20 |
| Jun-10 | 10 | x 0 | 0 | 10 |
Is there a minimum saving criterion for the bumper AED 10 Million prize?
Yes. All MashreqMillionaire customers holding 10 or more certificates under their name will qualify to enter the bumper draw of AED 10 Million.
However, all MashreqMillionaire customers are entitled to enter the regular AED 1 Million and the 20 AED 10, 000 prize draw every month, irrespective of the number of certificates saved in.
I am an existing MashreqMillionaire Certificate holder. How many chances do I get into the bumper AED 10 Million draw?
If you are an existing MashreqMillionaire customer with a minimum saving of AED 10,000 (i.e. 10 certificates under single name), then you are automatically entitled to enter the bumper AED 10 Million draw with the maximum bonus entries as per the grid above.
How often are MashreqMillionaire draws held?
MashreqMillionaire draws for AED 1 Million and 20 prizes of AED 10,000 are held on the first Thursday of each month. The AED 10 Million draw will be held in June 2010
How can I save with MashreqMillionaire Savings Certificates?
Saving in MashreqMillionare Certificates is simple and convenient. You can buy them from any one of the 60+ Mashreq branches across the Emirates, call our 24 hour Direct Banking Center on +971 (4) 424 4444. 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.
Mashreq customers can now save in MashreqMillionaire Certificates online through MashreqOnline.
Who all can save in MashreqMillionaire?
MashreqMillionaire Certificates can be saved in 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 (or the authorities of the Emirate where the draw is conducted). All certificates are included in all the draws, 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?
There is no holding period required to be eligible to qualify for the draws. Invest today and you are eligible to enter our next monthly draw.
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, sms 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 when the MashreqMillionaire Certificates are redeemed after 90 days from date of purchase. For earlier redemption, there is a nominal fee levied on the full or partial quantity of certificates redeemed.
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 en-cash my certificates if I need cash in the short term?
No. 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 all 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.