Minimum age
18 years
Mashreq Islamic Basic Savings Account
Mashreq Al Islami Basic Savings Account is a Mudarabah savings account with a Visa debit card. Profit is declared each quarter, 0.29% for Q3 2026.
An existing account with Mashreq is required, such as Mashreq Islamic Current Account.
At a glance
Key facts
Monthly Fee
AED 26.25/month below AED 3,000
Minimum SalaryAED 5,000
Account TypeSavings
Account access
Debit card included.
Applicants must be 18 or older; a minor can apply with a guardian. A valid Emirates ID is required.
Open in the app.
An existing account with the bank is required.
The Basic Savings Account is Mashreq Al Islami's standard savings account. You can receive and send money, make payments, set recurring payments and use the Visa debit card that comes with it, so it can double as an everyday account. There is no chequebook. It works on a Mudarabah contract: your balance joins a pool of depositors' money that the bank invests in Sharia-compliant activities, and you receive a share of what the pool earns. For cheques, pair it with the Mashreq Al Islami Current Account.
Who can open it
Minimum salary
AED 5,000/month
Minors
A child under 18 can apply together with a guardian.
Fees and balance
A savings account can still attract Mashreq's fall-below fee. The bank adds together what you hold in all your accounts, here and in the conventional bank, and tests that total against AED 3,000 each day. If it is lower on any day of the month, one fee of AED 26.25 is charged to you as a customer in the following month, however many accounts you have. A salary of AED 5,000 or more transferred to your account that month removes it. There is also a charge of AED 105 if you close the account within 180 days of opening it.
Monthly fall-below fee
AED 26.25
How to avoid the monthly fee Meet any one of these conditions.
- Keep a balanceBalance of AED 3,000 or more
- Other exemptionsCharged at relationship level if the combined daily balance across Mashreq accounts is below AED 3,000, unless a monthly salary of at least AED 5,000 is transferred.
Account closure fee
AED 105
Charged only within 180 days of opening.
In plain words
- Fall-below fee
- A monthly charge for holding less than the balance the bank asks for. Here it is AED 26.25, charged in a month when your balance is under AED 3,000. It is not charged in a month when you stay at or above that amount. More on this
- Account closure fee
- A one-off charge of AED 105 for closing the account within 180 days of opening it. Closing it later costs nothing. More on this
Profit
How profit works
PayoutQuarterly
Declared forQ3 2026
- Profit is calculated on the weighted average quarterly balance under the Mudarabah pool allocation. The bank receives 90% and customers 10% of allocated profit.
In plain words
- Profit rate
- An Islamic account does not pay interest. It pays you a share of what the bank earns on your money. The profit rate is that share as a yearly percentage of your balance. More on this
- Declared rate
- The bank announces the profit rate for each period after the period ends. The rate shown is the one announced for Q3 2026. More on this
What your money earns here
Held for
1 year
Uses the rate declared for Q3 2026. The amount and the rate stay the same for the whole period, and the profit is paid out, not added to the balance. Try other rates
AED 29
profit over 1 year
0.29%
a year
profit earned over time
Profit here is declared after the event, not promised in advance. At the end of each quarter the bank works out what the Mudarabah pool earned and announces a profit rate. Money that sat in the account for the whole quarter counts for more than money that arrived in the last week. The rate can be higher or lower from one quarter to the next.
Benefits
Free Visa Debit Card
A Mashreq Al Islami debit card arrives within 2 working days of opening the account.
Quarterly Profit Payout
Profit based on the Mudarabah pool is announced and paid every quarter.
Salary Transfer Cashback
Cashback set by the monthly salary you transfer, from AED 100 to AED 2,500, paid in 12 monthly instalments.
Shariah-compliant
Banking model
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Applicants must be 18 or older; a minor can apply with a guardian. A valid Emirates ID is required.
2.Open in the app.
3.An existing account with the bank is required.
4.Minimum salary: AED 5,000/month.
5.Debit card included.
Good to know
Good option for
Customers who want a Sharia-compliant account with a debit card for a salary and daily spending, and who treat the quarterly profit as a small extra.
Consider another account if
Profit is the point of your savings. The Wakala Convenience Account and the Nature Saver Account pay expected profit monthly and keep the debit card.
Two reserves that shape the profit
Mashreq keeps a Profit Equalisation Reserve to smooth returns to Mudarabah account holders from quarter to quarter, taken from the pool's income before the bank's share. It also keeps an Investment Risk Reserve to protect account holders from future investment losses, taken after the bank's share.
Frequently asked questions
Get answers to common questions about the Mashreq Islamic Basic Savings Account