Money Multiplier Account

Multiply your savings

High interest rate

up to 2.00%* per annum

*Rates subject to change

Get rewarded

On spends & remittances

Earn Salaam Points

on Debit Card spends

Up to 2.00%* interest per annum

It’s really simple:
  • Save money in the Money Multiplier Account
  • Spend using your Mashreq Debit Card, or Remit money using QuickRemit
Money-Multiplier-widget

Enjoy rewards on your spends and remittances

Save and spend or remit and earn attractively high interest rates with Mashreq Money Multiplier Account. The more you spend and remit, the more interest you will receive.
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Easy account opening

Existing Customers (Open Instantly) you can open your account with one click.

New Customers, please open a Current or Basic Savings account with Mashreq, you can then open a Money Multiplier Account.

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sweep-current-account
Multiply your savings
This account rewards you on your spends & remittances by offering high interest rates on your savings. Please click here to view an illustration of the interest calculation for your Money Multiplier Account.
benefits steps
Mashreq Money Multiplier is convenient and easy to maintain with no minimum balance and no fall below fee
Terms & Conditions apply
Use your Debit Card
Your Mashreq VISA Debit Card comes packed with a variety of features including 2 for 1 deals on food, entertainment and shopping. Visit mashreq.com/debit
QuickRemit - a faster way to send money
Send money faster to 35+ destinations using Mashreq Mobile or Online Banking. Visit mashreq.com/QR to know more

Eligibility

Minimum monthly income
AED 5,000
Mashreq Account

Customers who already hold an active Current or Savings Account with Mashreq Bank

Age
Must be 18 years old and above. A minor (below the age of 18) can apply along with a guardian.

Existing Customers

You will need

Absolutely no paperwork! Simply open the account through Mashreq Online/Mashreq Mobile
Calculator

Money Multiplier

Average savings/balance during the month

AED

Total spend/remit during the month

AED
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Total interest paid for the month

-

Applicable Interest Rate

1.50% - For AED 69,999

0.20% - For AED 130,001

Please note, the interest calculation above is for illustrative purpose only. The actual interest amount will depend on the exact tenure of the savings and the number of calendar days in a month.

Here’s how you can earn high interest on your savings. Refer to the table to ascertain the interest applicable when you save, spend/remit.
Save Spend/Remit Interest Rate (per annum)
10,000 - 29,999 3,000 – 7,999 1.25%
30,000 - 69,999 8,000 – 14,999 1.50%
70,000 – 149,999 15,000 – 19,999 1.75%
150,000 – 200,000 20,000 2.00%
*Spend and Remit can be either individual values or a combination of both. For each multiple of AED 200,000 in deposits and AED 20,000 in spends, you will receive an interest rate of 2.00% per annum on the first AED 200,000 and another 2.00% per annum on each incremental deposit of AED 200,000 and corresponding incremental spend/remit value of AED 20,000. You are eligible to receive 0.20% per annum on your balance if you do not fulfil the Spend/Remit criteria as per the eligibility table above

Still got questions?

No. There is no minimum balance requirement or fall below fee for this account.

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A Money Multiplier account can be opened only in AED (Dirhams)

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If you are a non-resident, you first need to open a Savings Account with Mashreq after which you can open a Money Multiplier Account online.

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You are allowed to open only one Money Multiplier Account.

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