Minimum age
18 years
Mashreq NEO Simple Account
Mashreq NEO Simple Account is a basic AED account for UAE residents earning under AED 5,000 a month, with no minimum balance and an AED 2.10 monthly fee.
At a glance
Key facts
Monthly FeeAED 2.10/month
Minimum BalanceNo minimum balance
Account TypeCurrent
Account access
Debit card included.
For UAE residents aged 18 or above with a valid Emirates ID, monthly salary below AED 5,000 and no other current or savings account in the UAE.
Mashreq NEO Simple is a basic digital bank account for people on lower salaries. It is open only to UAE residents who earn less than AED 5,000 a month and have no other current or savings account anywhere in the UAE. It gives you the essentials: somewhere for your salary to land, a debit card for shopping and cash, transfers inside the UAE and abroad, and bill payments, all from the Mashreq Mobile App. There is no chequebook and no branch counter service. Mashreq publishes the product details in Hindi and Urdu as well as English. If your salary is AED 5,000 or more, the bank points you to the NEO Current Account instead.
Who can open it
Residency
UAE resident
Maximum salary
Below AED 5,000/month
Fees and balance
The pricing is simple. There is a flat monthly fee of AED 2.10, and no minimum balance, so you are never charged for running the account low. The standard NEO Current Account works the other way round: no monthly fee, but a fall-below fee when balances are small. Day to day, the charge most people meet is for cash. Your first 4 withdrawals each calendar month at a Mashreq ATM in the UAE are free, and from the 5th each one costs AED 2.10. Another UAE bank's ATM costs AED 2.10 every time. Aani instant payments, transfers to other Mashreq accounts and utility bill payments are free, and closing the account costs nothing.
Minimum balance
None
Monthly fee
AED 2.1
Fall-below fee
Free
Account closure fee
Free
Benefits
Free Visa Debit Card
A debit card is issued with the account for everyday purchases and cash withdrawals.
Four Free ATM Withdrawals a Month
The first 4 cash withdrawals each calendar month at Mashreq ATMs in the UAE are free.
Free Aani Instant Payments
Aani instant payments and transfers between Mashreq accounts in the UAE carry no charge.
How to open
Before you apply
1.For UAE residents aged 18 or above with a valid Emirates ID, monthly salary below AED 5,000 and no other current or savings account in the UAE.
2.Monthly salary must be below AED 5,000.
3.No minimum balance.
4.Debit card included.
In plain words
- Salary ceiling
- This account is reserved for lower incomes. You can open it only if your monthly salary is under AED 5,000. More on this
Good to know
Good option for
UAE residents earning under AED 5,000 a month who need a first bank account for their salary and cannot keep a balance of AED 3,000.
Consider another account if
You already have a current or savings account with any UAE bank, or you need cheques. Either rules this account out. See accounts with no minimum balance for alternatives.
One UAE bank account only
Holding no other UAE current or savings account is a condition for keeping this account, not only for opening it. Mashreq can close the account if you hold or later open another one, or if the information you gave was false or incomplete. It gives reasonable notice first, except where it has to act at once for regulatory, security or risk reasons.
Frequently asked questions
Get answers to common questions about the Mashreq NEO Simple Account