Personal Banking

At Mashreq we believe in providing you with choices that help you manage your finances in the way that suits you.

Service Charges

Complete list of Mashreq Service Charges for the Personal section

Current Account


Current Account Current Gold
Initial Deposit AED 3,000 or equivalent in the case of a foreign currency account AUM *
Monthly Minimum Balance requirement or equivalent in the case of a foreign currency account AED 3,000 AUM*
Fall below fee AED 25 per month or equivalent in the case of a foreign currency account N/A
No of free transactions - other than ATM & Online 6 per month Unlimited
Additional transaction fee AED 10 N/A
Account closure charges (if closed within 1 year of opening AED 100

* Maintain a monthly salary transfer of AED 50,000 and/or monthly average relationship balance of AED 375,000 in deposits or investments and/or a mortgage loan relationship balance of AED 2,500,000. T&C apply.

Cheque Protect Plus - Revolving Over Draft

Segment Interest Rate p.a. Annual Fees
Mashreq Gold/Private Banking 12.99% p.a. Waived
Personal Banking 19.99% p.a. Waived

Savings Accounts

Savings Account Easy Saver
Initial Deposit AED 3,000 AED 500
Monthly Minimum Balance requirement AED 3,000 N/A
Fall below fee 25 per month N/A
No of free transactions - other than ATM & Online 6 per month Unlimited online transactions
Additional transaction fee AED 10 N/A
Account closure charges (if closed within 1 year of opening AED 100

Bank Statements

All Other Accounts MashreqGold
Regular Statement Free Quarterly Free Monthly
Additional Statement AED 25 Free

Term Deposits

Description Fixed Deposits Un-fixed Deposits Step-Up Saver
Minimum Amount AED 10,000 AED 10,000 AED 10,000
Maximum Amount No limit No limit No limit
Tenor 7 days to 5 years 6 months to 5 years Fixed for 18 months
Premature Withdrawal Rate Rate of actual tenor, less 2% Rate of actual tenor, less 2% Rate of actual tenor, less 0.5%
Partial Withdrawal Not allowed Allowed in units of AED 1,000 & USD 250 Not allowed

MashreqMillionaire

Issuance Fee AED 35 / waived for Mashreq Gold Customers
Pre-enchashment Fee within 90 days of issuance 2.5% (AED 25 per certificate)

Investments*

Subscription / Redemption Front end and/or back end fees, if any, on our capital guaranteed/non-capital guaranteed funds are variable and subject to the investment vehicle and/or type
Borrowing against Investment Interest charges for borrowing against investments are subject to market conditions and depend on the customer’s banking relationship with us

* For terms and conditions, please refer to product-offer document.

Credit Cards

In English adobe-pdf-icon

In Arabicadobe-pdf-icon

Loans & OverDrafts

Loans Personal Loans Home Loans Car Loans
Rate of Interest 5.99% to 28.99% Interest Rates linked to EIBOR 4.31% to 9,07%
Processing Fee 1% of the loan amount Subject to offer 1% of the loan amount
Minimum AED 500 AED 500
Maximum AED 2500
AED 2500
Life Insurance Charges 1.25% of the loan amount 0.35% p.a. of the loan amount/Subject to offer N/A
Loan top up fee 1% of the top up amount 1% of the top up amount/Subject to offer N/A
Minimum AED 500
N/A
Maximum AED 2500
N/A
Postponement Fee AED 100 per postponement N/A AED 100 per postponement
Late Payment Fee 2% of the delayed amount Subject to offer 2% of the delayed amount
Minimum AED 50
AED 50
Maximum AED 200
AED 200
Early Settlement Fee
Through other Banks 1% from remaining balance or AED 10,000, whichever is less 1% from remaining balance or AED 10,000, whichever is less 1% from remaining balance or AED 10,000, whichever is less
For repeat Loan 1% from remaining balance or AED 10,000, whichever is less 1% from remaining balance or AED 10,000, whichever is less N/A
Through own Sources 1% from remaining balance or AED 10,000, whichever is less 1% from remaining balance or AED 10,000, whichever is less 1% from remaining balance or AED 10,000, whichever is less
Re-validation Fee N/A AED 500 N/A
Property Evaluation Fee N/A AED 2500 N/A
Pre-approval Charges N/A AED 1000 N/A
Temporary/Permanent Release / Clearance Letter N/A N/A Nil
Liability Letter addressed to other Bank AED 100 AED 100/- AED 100
Change of Number Plate N/A N/A NIL (security deposit of AED 200 for individuals & AED 500 for companies)
Change of due date on standing instruction Nil Nil AED 25
Change of PDC / Recovery Account Nil N/A Nil
Loan rescheduling fee AED 250 N/A AED 250
Loan cancelation fee AED 100 N/A AED 100
Other certificate Nil N/A Nil

IPO Financing

Subscription / Interest Rates The charges applicable are subject to market conditions and may change without prior notice
Leverage Multiples Mashreq offers up to five multiples for IPO Financing

Cheques

All other Account holders Mashreq Gold
Additional Cheque book request (First Cheque book complimentary) AED 1 per leaf Free
Local Cheque Clearing - Normal Free Free
Special Clearing AED 205 AED205
Foreign Currency Cheque collection AED 50* AED 50*
Stop payment (per instrument/cheque) AED 50 AED 50
Cheque returned - Drawn on own account AED 100 AED 100
PDC custodial service AED 5 per cheque AED 5 per cheque
Request for copy of Old Cheques/ Documents < = 1 year AED 10 AED 10
> 1 year AED 20 AED 20

*Plus Clearing/ Drawee bank charges and courier charges, if any.

Remittance

All other Account holders Mashreq Gold
Drafts / PO
Issuance Branch AED 30 AED 30
Electronic* AED 20 AED 20
Cancellation AED 50 AED 50
Wire Transfer
Outward Branch
International AED 75** AED 55**
Domestic AED 5** AED 5**
Electronic*
International AED 25** AED 25**
Domestic AED 1** AED 1**
Recall of TT Funds/ TT Return/ Investigation of TT Status AED 50 AED 50
SWIFT copy charges AED 25 AED 25
Inward Remittance (AED or Foreign Currency) Free Free

*Transactions originating from Online and Mobile Banking
**Plus beneficiary bank and intermediary bank charges

Processing Fees for Foreign currency sale and purchase to customers

Minimum of AED 50 or the fees below, whichever is higher:

Type of Transaction Personal Banking Mashreq Gold Private Banking
Same Currency FCY Withdrawal / Deposit of Cash <= AED 1,000,000 Eqvt 1.00% 1.00% 1.00%
Same Currency FCY Withdrawal / Deposit of Cash > AED 1,000,000 Eqvt 1.50% 1.50% 1.50%
Cross Currency FCY Withdrawal / Deposit Waived Waived Waived

Standing Instruction Order

All other Account holders Mashreq Gold
Set-up/ Amendment Charges AED 50 AED 50
Account to Account Transfer (within Mashreq UAE) Free Free
SI not effected due to insufficient funds AED 25 AED 25
Fund transfer through DD or PO or Wire Transfer Please refer to "Remittance Charges" section

Debit Card

All other Account holders Mashreq Gold/Private Banking*
Debit Card (initial) Free Free
Supplementary Card
(including Supplementary Card for Joint Accountholder)
Free Free
Debit Card Replacement Charge AED 25 Free
Debit Card Currency Conversion Fee*** ~ 2.00% ~ 2.00%
Cash Withdrawal Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 2.00 Free
Other banks ATM (in GCC) AED 6.00 Free
Other banks ATM (Internationally) AED 20.00 Free
Balance Inquiry transactions Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 1.00 AED 1.00
Other banks ATM (in GCC) AED 3.00 AED 3.00
Other banks ATM (Internationally) AED 3.00 AED 3.00
Declined transactions Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 1.00 AED 1.00
Other banks ATM (in GCC) AED 3.00 AED 3.00
Other banks ATM (Internationally) AED 3.00 AED 3.00
Retrieval of sales slip AED 25 AED 25
PIN Mailer replacement/ re-issue fee AED 25** Free
Dynamic Currency Conversion Fee - Non Islamic Debit cards 1.25% 1.25%
International Transaction Fee (DCC) – Mashreq Al Islami Debit cards 1.25% 1.25%

*Applicable only to Mashreq Gold & Private Banking Platinum Debit card members
** Waived for PIN generation through PIN PAD machine in branch
*** Excludes processing fee charged by the Association.

Mashreqonline/Mashreq Mobile Banking - Retail

All other Account holders Mashreq Gold/Private Banking*
Debit Card (initial) Free Free
Supplementary Card
(including Supplementary Card for Joint Accountholder)
Free Free
Debit Card Replacement Charge AED 25 Free
Debit Card Currency Conversion Fee*** ~ 2.00% ~ 2.00%
Cash Withdrawal Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 2.00 Free
Other banks ATM (in GCC) AED 6.00 Free
Other banks ATM (Internationally) AED 20.00 Free
Balance Inquiry transactions Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 1.00 AED 1.00
Other banks ATM (in GCC) AED 3.00 AED 3.00
Other banks ATM (Internationally) AED 3.00 AED 3.00
Declined transactions Mashreq ATM's (in UAE) Free Free
Other banks ATM (in UAE) AED 1.00 AED 1.00
Other banks ATM (in GCC) AED 3.00 AED 3.00
Other banks ATM (Internationally) AED 3.00 AED 3.00
Retrieval of sales slip AED 25 AED 25
PIN Mailer replacement/ re-issue fee AED 25** Free

*Applicable only to Mashreq Gold & Private Banking Platinum Debit card members
** Waived for PIN generation through PIN PAD machine in branch
*** Excludes processing fee charged by the Association.

Mashreq Prime Rate (MPR)

The Mashreq Prime Rate is a reference rate for Retail lending products.

AED MPR 6.25%
USD MPR 2.96%
GBP MPR 3.20%
EURO MPR 2.55%

*Please Note: We have increased the spread for MPR in USD/EUR/GBP by 2.5 Click here to view the Frequently Asked Questions about MPR

UAEDDS PAYING BANK Charges

Description Charges
Lodgment of Direct Debit Authority Request 200
Direct Debit Authority Amendment 200
Direct Debit Authority Cancellation 200
Processing of Stop Payment Requests 200
DDR Return Due to insufficient funds 100

Bill Payment

Bill Payment All other account holders Mashreq Gold

Utility (DEWA, SEWA, ADDC), Phone (Etisalat, Du) and Salik

Branch

Not available

Not available

Electronic*

Free

Free

Non-Mashreq credit card Payments**

Branch

Not available

Not available

Electronic*

AED 10

AED 10

*Transactions originating from Internet Banking, Mobile Banking, SMS Banking and ATM
**Please note: Charges will come into effect from the 1st of April, 2015