Last Updated on 05 December 2025
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Mashreq Neo Current Account
Neo Current Account
Features
- Eligibility requires minimum AED 5,000 monthly income, age 18+, and valid Emirates ID.
- Mandatory Visa debit card provides global access.
- First cheque book issued free with Central Bank compliant limits.
- Quick Remit enables transfers to 40+ countries.
- NEO PLUS variant maintains AED 50,000 average balance across Mashreq accounts.
- NEO PLUS Salary variant credits AED 10,000+ monthly salary.
- No physical branches; services operate through Mashreq Mobile App and ATMs.
- Salary cashback tiers apply based on monthly salary range.
- A minimum salary of AED 5000 is required
- Maintain AED 3,000 monthly average balance OR transfer AED 5,000+ salary to NEO Current Account (no minimum balance needed); otherwise, fall-below fee applies.
Required Documents
- Valid Emirates ID required for instant 2-minute digital account opening.
Main Benefits
- Maximum AED 5,000 cashback combines AED 200-2,500 base salary reward plus AED 50-1,000 early bird bonus.
- 5% cashback up to AED 200 available through Apple Pay, Google Pay, or Samsung Pay enrollment.
- AED 300 bonus credits for Quick Remit transfers of AED 3,000+ to 40+ countries.
- AED 1,000 referral reward through double bonus (AED 200 per referral, maximum 5 friends).
- Access global stock exchanges, gold/foreign currency investments, and 4.50% NEO Groups term deposits.
- Instant digital activation eliminates branch visits.
- Transparent operations feature no hidden fees.
- 6.25% per annum accessible via NEO PLUS Saver with salary transfer.
Frequently Asked Questions
Q. What minimum eligibility applies for Mashreq NEO Current Account cashback?
A. Minimum AED 5,000 monthly income required for salary transfer cashback eligibility.
Q. How to initiate salary transfer to Mashreq NEO Current Account?
A. Generate HR letter via Mashreq Mobile App: Login > 'More' > 'Transfer your salary now' > 'Email my HR now' > Enter HR email > Send.
Q. When does Mashreq NEO salary cashback credit?
A. Cashback based on first salary credits in 6 equal monthly installments within 90 days of each salary receipt.
Q. What qualifies as salary transfer for Mashreq NEO Current Account?
A. UAE employer credits via recognized channel qualify; remittances, cash, cheques excluded.
Q. Existing Mashreq NEO customers salary cashback eligibility?
A. Current customers qualify upon initiating continuous AED 5,000+ monthly salary transfers.
Q. Salary increase after first transfer impact?
A. Cashback fixed at first salary tier; no adjustment for increases.
Q. No salary transfer one month effect?
A. Single month forfeits cashback; benefits resume with next qualifying transfer.
Q. Penalty for two consecutive no-salary months?
A. Within 12 months of first credit, triggers full cashback clawback from account.
Q. Maximum duration for NEO salary transfer benefits?
A. 7 months from first eligible salary transfer month.
Mashreq
Mashreq Bank is a private sector bank established in 1967. It was started by Al-Ghurair Group and it also known as largest private sector bank. Mashreq Bank provides both retail and commercial services to their customers.
Mashreq provides a wide range of products and services that suits the needs of every customer. It works with an aim to provide their customers best banking experience and establish a good customer bank relationship. Mashreq Bank has marked its presence globally by starting their operations at regions like Bahrain, Egypt, Kuwait, Qatar. It also has branches in New York, Mumbai(India), London and Honk Kong.
Get in touch with Mashreq Customer Care