- Interest rate: as listed below
- Initial balance: AED 1,000
- Start earning interest : AED 5,000 and above
- Fall below fee: AED 75
Watch your returns grow with your account balance.
The interest schedule for the Step-Up Account is based on deposit tiers
Balance Interest Rate
AED 5,000* - 14,999 0.75%
AED 15,000 - 49,999 1.25%
AED 50,000 - 249,999 1.75%
AED 250,000 and above 2.00%
* A minimum balance of AED 5000 is required in the account to be eligible for interest in any particular month.
Step-Up Account
The Step-Up Account from Mashreq puts you in charge of your savings plans. The higher your balance, the higher the rate of interest it earns. It offers you the flexibility to conduct your transactions, pay bills or transfer funds while continuing to earn returns. You get all the benefit of a savings account with the flexibility and transaction capability of a regular account.
The benefits of the Step-Up account include:
- High interest bearing savings account with the flexibility and transaction capability of a regular account *
- Up to 3 free teller transactions each month
- Free VISA Debit Chip Card that can be used to withdraw cash at over 400,000 ATM's and make purchases at over 14 million retail outlets around the world
- Ability to withdraw or transfer your funds at any time
- Free online banking access
- Free Mobile banking Access
- Free Tele-banking services
* Interest is calculated on the average balance maintained in the account. The interest rate applicable is based on the minimum balance maintained during the month
Interest is credited on a quarterly basis
