Minimum age
18 years
Mashreq Islamic Easy Saver Account
Mashreq Al Islami Easy Saver is a Mudarabah savings account in AED or USD with no minimum balance, no monthly fee and no debit card. 0.69% for Q3 2026.
An existing account with Mashreq is required, such as Mashreq Islamic Current Account.
At a glance
Key facts
Monthly FeeNo monthly fee
Minimum BalanceNo minimum balance
Minimum SalaryAED 5,000
Account access
No debit card included.
Applicants must be 18 or older; a minor can apply with a guardian.
Open in the app.
An existing account with the bank is required.
The Easy Saver is the put-it-away account in the Mashreq Al Islami range. It deliberately comes without a debit card or chequebook, so the money in it is a step removed from daily spending. You open it from an existing Mashreq Al Islami current or savings account, in dirhams or US dollars, and you can feed it automatically with a standing instruction. It runs on a Mudarabah contract, which means your balance is pooled with other depositors' money, invested by the bank in Sharia-compliant activities, and paid a share of what the pool earns. Compared with the Basic Savings Account, it trades the debit card for a higher declared profit rate.
Who can open it
Minimum salary
AED 5,000/month
Minors
A child under 18 can apply together with a guardian.
Fees and balance
The Easy Saver has no monthly fee, no minimum balance and no fall-below fee of its own, so a small balance here is not charged. One charge can apply: AED 105 if you close the account within 180 days of opening it. Bear in mind that you hold this account alongside a Mashreq Al Islami current or savings account, and that account is where the bank's AED 3,000 combined daily balance rule sits. Money in the Easy Saver counts towards that combined balance.
Minimum balance
None
Monthly fee
Free
Fall-below fee
Free
Account closure fee
AED 105
Charged only within 180 days of opening.
In plain words
- 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. No debit card or cheque book is provided.
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 69
profit over 1 year
0.69%
a year
profit earned over time
You find out the profit rate at the end of each quarter, when the bank announces what the Mudarabah pool earned. The rate moves from quarter to quarter with the pool's results. The longer money stays in during the quarter, the more it counts. Mashreq also keeps two reserves that affect the figure: one that smooths returns between quarters, and one held against future investment losses.
Benefits
Quarterly Profit Payout
Profit based on the Mudarabah pool is announced and paid every quarter.
AED or USD Savings
The Easy Saver can be opened in dirhams or in US dollars.
Instant Online Opening
Existing customers open the account at once in Mashreq Mobile or Online Banking, with no paperwork.
Shariah-compliant
Banking model
How to open
Before you apply
1.Applicants must be 18 or older; a minor can apply with a guardian.
2.Open in the app.
3.An existing account with the bank is required.
4.Minimum salary: AED 5,000/month.
5.No minimum balance.
6.No debit card included.
Application steps
1.Hold an active Current or Savings Account with Mashreq Al Islami.
2.Sign in to Mashreq Mobile or Online Banking.
3.Open an Easy Saver Account in AED or USD. No paperwork is needed.
4.Set up a standing instruction if you want to save automatically.
Good to know
Good option for
Existing Mashreq Al Islami customers who want a Sharia-compliant place to build savings in AED or USD, with no balance to maintain and no card tempting them to spend it.
Consider another account if
You want profit credited monthly or need card access to your savings. The Wakala Convenience Account offers both.
Frequently asked questions
Get answers to common questions about the Mashreq Islamic Easy Saver Account