Basic Savings Account

Savings made easy

with great returns

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Based on the Islamic Structure

Mudarabah

Instant Visa Debit Card

worldwide acceptance

Quarterly profit payouts

Based on Mudarabah pool rates

The easiest way to earn great returns on your savings

The Basic Savings Account from Mashreq Al Islami gives you the freedom to make your banking transactions at no cost, while earning profit on your account balance.

Easy account set-up

You need an initial balance of AED 3,000 to set up your account. Then withdraw cash at more than 1.8 million ATMs in over 200 countries with ease.

Get up to AED 3,500

Enjoy a salary transfer cashback up to AED 3,500 when you open a Islamic Current Account & transfer your salary. Your bonus depends on the monthly salary deposited.
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Earn Joining Bonus based on your transferred salary

Monthly Salary Range Cashback* Additional cashback**
AED 5,000-9,999 AED 200 AED 50
AED 10,000-19,999 AED 500 AED 250
AED 20,000-49,999 AED 1,000 AED 500
AED 50,000 & above AED 2,500 AED 1,000
* Applicable for accounts with first salary credited on or after 27 August 2023. For more details, visit mashreqalislami.com/tncs. **Additional early bird cashback will be credited to customers who transfer their salary within first 90 days of their account opening. For more details, visit mashreqalislami.com/EBIS

Enjoy Early Bird Cashback

Make transactions in the first 90 days and enjoy up to AED 5,000 cashback

Up to AED 3,500: Transfer your salary and enjoy bonus
Up to AED 200: Shop & enjoy 5% cashback. Enroll your Mashreq Al Islami Debit Card on any Digital Wallet (Apple Pay, Google Pay or Samsung Pay)
Up to AED 300: Send AED 3,000 or more with Quick Remit to 40+ countries
Up to AED 1,000: Get double referral bonus (AED 200) when you refer up to 5 friends to join Mashreq Al Islami
Free Visa Debit Card
Once you open your account, you will receive your Mashreq Al Islami Debit card within 2 working days so you have access to your funds.
Instant account opening
It's easy to open your account. Simply download the Mashreq Mobile app to apply
Visa Debit Card offers
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Terms & Conditions apply 
 

Eligibility

Minimum monthly income AED 5,000
Requirement Valid Emirates ID
Age Must be 18 years old and above. A minor (below the age of 18) can apply along with a guardian

You will need

Valid passport
A valid Emirates ID

Profit Equalisation Reserve The Bank maintains a Profit Equalisation Reserve (PER) for the purpose of smoothening the returns to the Mudarabah account holders. The PER is deducted from Mudarabah income before deduction of the Bank’s share. Investment Risk Reserve The Bank maintains an Investment Risk Reserve (IRR) for the purpose of protecting the Mudarabah account holders from any investment losses in the future. The IRR is deducted from Mudarabah income after deduction of the Bank’s share.

Are you ready to apply?

Transparency

Key Facts Statement
Profit Distribution Weightages
Profit Rates

Still got questions?

If the combined minimum average balance on your accounts falls below AED 3,000 or equivalent in other currencies i.e. “monthly minimum balance”, you will be charged a “fall below fee”. Click here to know more on how to avoid getting charged.
This will be as disclosed by the Bank on a quarterly basis and based on Mudarabah Pool rates. To view our historic Mudarabah profit rates, click here. Important Notes:

Profit Equalisation Reserve
The Bank maintains a Profit Equalisation Reserve (PER) for the purpose of smoothening the returns to the Mudarabah account holders. The PER is deducted from Mudarabah income before deduction of the Bank’s share.

Investment Risk Reserve
The Bank maintains an Investment Risk Reserve (IRR) for the purpose of protecting the Mudarabah account holders from any investment losses in the future. The IRR is deducted from Mudarabah income after deduction of the Bank’s share.

Mudarabah Contract is a profit sharing arrangement wherein capital provider (Rabb-ul-Maal) bears the risk and the Manager of funds (Mudarib) contributes expertise and management skills to employ the funds in Shariah Compliant activities and obtain a rate of return.
The profit share allocation for Savings Account based on the Mudarabah Contract is Mudarib’s (Bank) Share 90% and Customer’s Share 10%.

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