Minimum age
18 years
Mashreq Noon Savings Account
Mashreq noon Savings Account is an AED savings account with a noon debit card that earns cashback, no fall-below fee and interest of up to 1.1% a year.
At a glance
Key facts
Account TypeSavings
Holding CurrencyAED
Interest RateUp to 1.1% interest
The Mashreq noon Savings Account is a savings account built around a debit card. You hold money in AED, earn a small amount of interest on it each month, and spend with the Mashreq noon Debit Card, which pays cashback on what you buy. The cashback is higher on noon and NowNow than elsewhere, and it lands in your noon pay wallet to use on later noon orders. There is no chequebook. Unlike the NEO Savings Account, it pays interest and has no fall-below fee.
Who can open it
Minors
A child under 18 can apply together with a guardian.
Minimum monthly income
Mashreq asks for a monthly income of AED 5,000.
Fees and balance
This account has no fall-below fee and no minimum balance, so running it low does not cost you anything here. Keep in mind how the fee works elsewhere at the bank. If you also hold a standard NEO current or savings account, Mashreq still checks the combined daily balance across all your accounts against AED 3,000 for that relationship, and money held here counts towards the total.
Fall-below fee
Free
Interest
Annual interest rate
| Your balance | Rate a year |
|---|---|
| From AED 1, up to AED 2,999 | 0.1% |
| From AED 3,000, up to AED 49,999 | 0.35% |
| From AED 50,000, up to AED 99,999 | 0.55% |
| From AED 100,000, up to AED 149,999 | 0.8% |
| From AED 150,000 | 1.1% |
| Your balance | Rate a year |
|---|---|
| From AED 1, up to AED 2,999 | 0.1% |
| From AED 3,000, up to AED 49,999 | 0.35% |
| From AED 50,000, up to AED 99,999 | 0.55% |
| From AED 100,000, up to AED 149,999 | 0.8% |
| From AED 150,000 | 1.1% |
PayoutMonthly
Calculated onAverage monthly balance
In plain words
- Annual rate
- The rate is quoted for a full year. Money held for part of a year earns the matching part of it. More on this
- Balance bands
- The rate changes with how much you hold. Each band is a range of balance with its own rate. More on this
- Which balance counts
- The return is worked out on your average balance across the month, so money held for only part of the month counts in proportion. More on this
What your money earns here
Held for
1 year
The amount and the rate stay the same for the whole period, and the interest is paid out, not added to the balance. Try other rates
AED 35
interest over 1 year
0.35%
a year on this balance
interest earned over time
The rate comes from the band your average falls into, and it applies to the whole average balance. Because the average is what counts, a large deposit made late in the month lifts that month's interest only a little.
Benefits
noon Debit Card Cashback
Purchases on noon and NowNow with the Mashreq noon Debit Card earn cashback. Other card purchases earn a smaller amount.
Mashreq noon Debit Card
The account comes with a Mashreq noon Debit Card for spending and cash access.
How to open
Application steps
1.Have your valid Emirates ID ready.
2.Start the application, or sign in to the Mashreq Mobile App or Mashreq Online if you already bank with Mashreq.
3.Scan your Emirates ID and take a selfie.
4.Enter your personal details.
5.Choose the Mashreq noon Savings Account as the account type.
Good to know
Good option for
Regular noon and NowNow shoppers who want cashback on a debit card, and anyone who wants a Mashreq savings account that carries no fall-below fee.
Consider another account if
The interest rate is your main reason for saving. The NEO PLUS Saver is Mashreq's rate-led savings account, with conditions on salary, balance and withdrawals.
Frequently asked questions
Get answers to common questions about the Mashreq Noon Savings Account