Tired of watching your AED savings sit idle in a regular current account? You are not alone. Most UAE expats earn close to zero on their daily balance — and never even know it.
Here's the deal: the Mashreq Daily Bonus Account pays you interest every single day on your end-of-day balance — up to 1.50% per annum. And you can open it online with just your Emirates ID.
In this guide, you'll discover:
- What the Daily Bonus Account really is (in plain English)
- Eligibility & the exact documents you need in UAE
- The official tiered interest rates (AED 3,000 to AED 1,000,000+)
- Fees, fall-below charges and key restrictions
- A step-by-step online opening process via Mashreq NEO
Let's dive in.
Mashreq Daily Bonus Account — Quick Facts
Before we go deep, here's the entire account summarized in one responsive table. Skim it. Bookmark it. Then keep reading for the details.
| Feature | Official Detail |
|---|---|
| Account type | Interest-bearing savings account (paid on end-of-day balance) |
| Currency | AED only |
| Maximum interest rate | Up to 1.50% per annum |
| Interest payout frequency | Daily (end of day) |
| Minimum balance | AED 3,000 or salary transfer above AED 5,000 |
| Fall-below fee | AED 20 + VAT per month |
| Cheque book / Debit card | Not provided |
| Teller (branch) transactions | Not allowed |
| Account closure charges | No charges |
| Cooling-off period | 5 business days |
| Customer support (24×7) | +971 4 424 4444 |
What Is the Mashreq Daily Bonus Account?
A simple visual breakdown of what the Daily Bonus Account does for you.
In simple words: it's a secondary savings account linked to your main Mashreq current or savings account. Park money in it, and Mashreq pays you interest every single day.
It is part of the Mashreq NEO digital banking suite. That means no branch visits. No paperwork. Just your Emirates ID.
Key features at a glance
- Daily interest credit — payouts hit your account at end of day, every day.
- Tiered rates — earn more when your balance grows.
- Unlimited withdrawals — your money is never locked.
- 24×7 access — manage everything via Mashreq Online or Mashreq Mobile.
- Instant set-up — open in around 2 minutes.
Pro Tip: Treat the Daily Bonus Account as your "earnings parking lot". Keep your monthly spending money in your current account, and sweep the rest into Daily Bonus to earn interest while you sleep.
Eligibility & Required Documents (UAE)
Check this list before you start your application — saves time later.
Here's the part most people get wrong. The Daily Bonus Account is not a stand-alone account. You must already hold a Mashreq current or savings account.
Who can open it
| Criteria | Requirement |
|---|---|
| Existing relationship | Must hold an active current or savings account with Mashreq |
| Age | 18 years or above |
| Residency | UAE resident with valid Emirates ID (preferred) |
| Non-residents | Open a Savings Account first, then apply for Daily Bonus online |
| Account limit | Maximum one (1) Daily Bonus Account per customer |
Documents you need
- Valid Emirates ID (front & back)
- Valid passport with UAE residence visa page
- Active UAE mobile number (for OTP)
- Salary certificate or employer letter (only if opening with salary transfer of AED 5,000+)
Note: If you are still on a visit visa or your Emirates ID has expired, your access to Mashreq Mobile and Mashreq Online may be limited 60 days after the ID expiry until you update it.
Daily Bonus Interest Rates (Official Tiers)
Three simple tiers — the more you save, the higher the rate.
Mashreq publishes the official Daily Bonus interest rates on its rate sheet. Rates are subject to change, but here is the current published structure.
| Deposit Value (AED) | Up to 14 Feb 2023 (p.a.) | Effective 15 Feb 2023 (p.a.) |
|---|---|---|
| 3,000 – 49,999 | 0.50% | 0.50% |
| 50,000 – 999,999 | 0.70% | 1.00% |
| 1,000,000 & above | 1.00% | 1.50% |
How daily interest is calculated
Interest is calculated on your end-of-day balance using the formula:
Example: AED 59,975 × (1.00% / 360) ≈ AED 1.66 daily interest.
Pro Tip: Push your balance just above AED 50,000 and you instantly jump from 0.50% to 1.00% — that's 2× the daily payout on the same money.
Mashreq Daily Bonus Account Fees & Charges
One of the biggest reasons customers love this account: no setup fees, no closure fees, no debit card fees. The only thing to watch is the fall-below charge.
| Charge Type | Amount | When It Applies |
|---|---|---|
| Account opening | Free | Online via Emirates ID |
| Fall-below fee (KFS) | AED 20 + VAT / month | If average minimum balance not maintained or salary AED 5,000 not transferred |
| Fall-below fee (FAQ disclosure) | AED 21 / month | If month-end balance falls below AED 3,000 (charged once per month) |
| Cheque book | Not available | Not issued for this account |
| Debit card (VISA) | Not allowed | Use linked current/savings account card |
| Account closure | No charges | Anytime via Mashreq |
| E-statement | Free | Sent monthly to registered email |
Important: All fees are subject to 5% VAT unless stated otherwise in Mashreq's Schedule of Charges. Mashreq must give 60 calendar days' notice before changing any fee.
How to Open Mashreq Daily Bonus Account Online — Step by Step
Five clean steps from "no account" to "earning daily interest".
The whole flow is digital. No branch visit. No printed forms. Here's exactly what to do.
| Step | Action | What's Required | Time |
|---|---|---|---|
| 1 | Download Mashreq Mobile or open mashreq.com | Smartphone, internet | 1 min |
| 2 | Sign in to your existing Mashreq account (or open a NEO Savings/Current first) | Mashreq username + OTP | 1–2 min |
| 3 | Go to Accounts → Open New Account → Daily Bonus Account | Active session | 1 min |
| 4 | Verify with Emirates ID scan + selfie | Valid Emirates ID | 2 min |
| 5 | Confirm. Your Daily Bonus Account is live and starts earning interest from day one | Tap to confirm | Instant |
For account opening flow and screenshots, you can also follow our broader walkthrough on the Mashreq NEO Savings Account opening guide for Dubai expats — which uses the same Mashreq NEO onboarding flow.
Pro Tip: Already have a Mashreq NEO Current Account? You can add the Daily Bonus Account in under 2 minutes from the same app — no re-KYC needed.
Online vs Offline: Why You Can't Walk Into a Branch
Unlike traditional savings accounts, the Daily Bonus Account is digital-only. You will not be able to perform teller/branch transactions on it.
| Activity | Online (Mashreq Online / Mobile) | Branch / Teller |
|---|---|---|
| Open account | ✅ Allowed (Emirates ID + selfie) | ❌ Not the primary route |
| Deposit / withdrawal | ✅ Unlimited transfers via app | ❌ No teller transactions |
| Update Emirates ID / visa | ✅ Self-service in app | ✅ Allowed |
| Cheque book / debit card | ❌ Not provided | ❌ Not provided |
| Statements | ✅ Monthly e-statement + in-app | — |
If you ever need to update your contact details, residency status, visa, Emirates ID or employer info — you can do it instantly inside Mashreq Online or the Mobile App.
Benefits vs Limitations — The Honest Truth
No account is perfect. Here's the balanced view so you can decide if Daily Bonus is right for you.
| ✅ Benefits | ⚠️ Limitations |
|---|---|
| Up to 1.50% p.a. daily interest | AED currency only |
| Daily payout (end of day) | No debit card or cheque book |
| Unlimited withdrawals | No teller transactions allowed |
| Instant online opening with Emirates ID | Must already have a Mashreq current/savings account |
| No account closure fee | Fall-below fee if balance < AED 3,000 |
| 24×7 access via Mashreq Online & Mobile | Maximum one Daily Bonus Account per customer |
Pro Tip: If you're a UAE expat sending money home regularly, pair this with the Mashreq NEO Current Account online opening guide for free transfers and salary bonus benefits.
Key Rules, Restrictions & Closure Policy
These are the rules straight from Mashreq's official Terms & Conditions and Key Facts Statement. Read them once — save yourself surprises later.
Inactivity & dormancy
- If there are no transactions for 180 days from opening, the bank may close the account.
- Operations may be suspended after 1 year of inactivity.
- Account becomes dormant after 3 years of no activity (per UAE Central Bank rules).
- Unclaimed balances after 5 years are transferred to the UAE Central Bank.
Cooling-off period
You have a 5 business days right of withdrawal from the date of signing your Account Opening Application — no penalty, no reason needed (per UAE Central Bank Consumer Protection Regulation).
Lost / stolen / fraud
Call Mashreq immediately on +971 4 424 4444 (24×7).
Warning: Always keep your Emirates ID and passport details up to date in Mashreq Online. Outdated KYC can block your account access until you update it.
Frequently Asked Questions
Is the Mashreq Daily Bonus Account free to open?
What is the minimum balance for Mashreq Daily Bonus Account?
Can a non-resident open a Daily Bonus Account in UAE?
How is the daily interest calculated and credited?
Does the Daily Bonus Account come with a debit card or cheque book?
How many Daily Bonus Accounts can I open?
What happens if I don't transact for 180 days?
What number do I call for fraud or unauthorized transactions?
Final Verdict — Should You Open It?
If you're already a Mashreq customer and you have idle AED sitting in your current account, the Daily Bonus Account is a no-brainer. You don't lose flexibility, you don't pay opening fees, and you start earning daily interest from day one.
Three big takeaways to remember:
- Up to 1.50% p.a. credited daily — money grows even on weekends.
- Keep AED 3,000+ or a salary above AED 5,000 to avoid the fall-below fee.
- 100% digital — no debit card, no cheque book, no branch visits.
Ready to start earning daily? Open the Mashreq Mobile app, sign in, and tap "Open New Account → Daily Bonus Account". You'll be done in 2 minutes.
For more digital banking guides, check our latest UAE bank account opening posts on inewkhusi.com covering Mashreq NEO, FAB, ADCB and more.
Question for you: Are you currently using a daily-interest savings account in UAE — or is your salary just sitting idle? Tell us in the comments.
Sources
- Daily Bonus Account — Mashreq UAE (official product page) — https://www.mashreq.com/en/uae/neo/accounts/savings-accounts/daily-bonus-account/
- Daily Bonus Interest Rates — Mashreq UAE (official rate sheet PDF) — https://www.mashreq.com/-/jssmedia/pdfs/neo/accounts-deposits/Daily_Bonus_Interest_Rates-EN-AR.ashx
- Key Facts Statement — Daily Bonus Account (Mashreq UAE official PDF, Version: August 2025) — https://www.mashreq.com/-/jssmedia/pdfs/neo/accounts-deposits/KFS/KFS-PB-Daily-Bonus-Account-ENG-AR.ashx
- Terms and Conditions for Individuals (Mashreq UAE official PDF) — https://www.mashreq.com/-/jssmedia/pdfs/neo/accounts-deposits/account-tncs/PB_TnC_for_Individuals_Eng_old.ashx
- Schedule of Charges — Mashreq NEO (official) — https://www.mashreq.com/en/uae/neo/service-charges/
- Mashreq NEO Accounts & Deposits — https://www.mashreq.com/en/uae/neo/accounts/
All information verified from official Mashreq UAE sources on 05 May 2026.
