Mashreq launches new saver account offering 6.25% interest and $1,360 cashback

Mashreq has launched a high-yield digital savings product that offers up to 6.25 per cent annual interest and cashback rewards of up to AED5,000 ($1,360).

The financial institution says the NEO PLUS Saver Account is among the most attractive personal banking propositions in the region.

Available exclusively through the Mashreq Mobile App, the account is designed to serve both salary and non-salary customers, combining generous returns with a seamless digital experience.

Mashreq launches high-yield savings account

What salary customers can get:

• 6.25 per cent interest per annum for those transferring a monthly salary of AED10,000 ($2,720) or more
• AED3,500 ($950) salary bonus
• AED1,500 ($410) Early Bird cashback, which includes spending and remittance rewards.

Non-salary customers:

• 5 per cent interest per annum on balances of AED50,000 ($13,600)
• AED1,500 ($410) Early Bird Cashback, including 5 per cent cashback on debit card transactions and AED300 ($82) on international remittances

Unlike some competing products, customers are not required to sign up for additional products such as credit cards, loans, or mortgages to unlock the full benefits.

Fernando Morillo, Group Head of Retail Banking at Mashreq, said: “We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions.

“With NEO PLUS Saver Account, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.”

Radu Topliceanu, Global Head of NEO at Mashreq, said: “Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers’ lives. With NEO PLUS Saver Account, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.”

Mashreq said the account can be opened instantly and gives users access to wealth-building tools such as fee-free US stock trading, mutual funds, bonds, and thematic investment options.