If you are visiting Dubai or you are working in Dubai, then it is very important for you to have a personal savings account. You can open a savings account to keep your savings safe. Mashreq Bank easy saver account can be opened online without any monthly fee and with competitive interest rates without maintaining any balance. This account will be better for those people who are not able to maintain any kind of balance and want to save. Want to open your bank account for.
In this article, we will explore the features, benefits and eligibility criteria of Mashreq Easy Saver Account, and also tell you how to open this account at home with a step by step process, so stay with us till the end.
Overview of Mashreq Easy Saver Account
Here you will know the overview of Mashreq Easy Saver Account before opening it. The main features and benefits of the Mashreq Easy Saver Account, highlighting its user-friendly and cost-effective nature.
| Feature | Description |
|---|---|
| No Minimum Balance | No requirement to maintain a minimum balance. |
| Zero Monthly Fees | No monthly maintenance fees. |
| High Interest Rate | Earn up to 2.40% per annum. |
| Automatic Savings | Set up automatic savings with standing instructions. |
| Account Setup | Open an account in 2 minutes via Mashreq Mobile or Online Banking. |
| Eligibility | Minimum monthly income of AED 5,000, must be 18+ years old, existing Mashreq account holder. |
| Currency Options | Available in AED (Dirhams) and USD (US Dollars). |
| Flexible Transactions | One free debit transaction per month without affecting interest. |
| Convenience | Easy to use, with instant account setup for existing customers. |
Key Features of Mashreq Easy Saver Account
- No Minimum Balance Requirement: No need to maintain a minimum balance in the account.
- Zero Monthly Fees: No monthly maintenance or service fees.
- High Interest Rate: Earn up to 2.40% interest per annum on your savings.
- Automatic Savings: Set up automatic savings through standing instructions.
- Flexible Transactions: One free debit transaction per month without impacting interest for that month.
- Easy Account Setup: Open an account in just 2 minutes via Mashreq Mobile or Online Banking.
- Free Online Money Transfers: Enjoy free online transfers with your account.
- Currency Options: Available in AED (Dirhams) and USD (US Dollars).
- Eligibility Requirements: Minimum monthly income of AED 5,000, existing Mashreq account holder, and must be 18 years or older.
Eligibility Criteria for Mashreq Easy Saver Account
- Minimum Monthly Income: Applicants must have a minimum monthly income of AED 5,000.
- Existing Mashreq Account: Applicants must already hold an active Current or Savings Account with Mashreq.
- Age Requirement: Applicants must be 18 years or older. Minors (below 18) can apply with a guardian.
- Emirates ID: A valid Emirates ID is required for account opening.
Note : These criteria ensure that the account is accessible to individuals with a stable income and existing banking relationship with Mashreq.
Requirement Documents
The list of documents that you will need to open a Mashreq Easy Saver Account is as follows:
| Document | Description |
| Valid Emirates ID | Required for identity verification. |
| Proof of Income | Evidence of minimum monthly income (AED 5,000). |
| Existing Mashreq Account | Details of an active Current or Savings Account with Mashreq. |
| Additional Identification | Passport or residency visa, if required. |
Step-by-Step Account Setup Process for Mashreq Easy Saver Account
You can open Mashreq Easy Saver Account by completing only 6 steps from home through your smartphone. After opening the account, you will have to get your Emirates ID verified. As soon as you get your ID verified, you are given everything from the bank account welcome kit to debit card to check book. To open this savings account, you can follow the step by step process given below:
1. Scan Your Emirates ID
- Use the Mashreq Mobile app to scan your Emirates ID for identity verification.
2. Take a Selfie
- Capture a selfie through the app to confirm your identity.
3. Enter Personal Details
- Provide personal information such as name, address, and contact details as prompted by the app.
4. Choose Account Type
- Select the Easy Saver Account from the list of available account options.
5. Submit and Verify
- Review your entered information for accuracy and submit the application.
6. Instant Account Setup
- If you are an existing Mashreq customer, your Easy Saver Account will be set up instantly.
Through this simple process you can open your savings account. This bank account can be used using Masrakh mobile application and online banking. By opening this bank account you can send money to India-Pakistan, Nepal, Bhutan and more than 50 other countries.
Benefits
The Mashreq Easy Saver Account offers several benefits:
- Ease of Use: As the name suggests, it’s designed to be straightforward and easy to manage. This makes it a great option for those who want a simple savings account without a lot of complexity.
- Flexibility: You have the flexibility to deposit and withdraw funds as needed without penalties, which is ideal for those who want easy access to their savings.
- Competitive Interest Rates: While interest rates can vary, Mashreq Bank often offers competitive rates on their Easy Saver Account, helping your savings grow over time.
- No Minimum Balance Requirement: Some savings accounts require you to maintain a minimum balance, but with the Easy Saver Account, you can open and maintain the account without worrying about meeting a minimum balance requirement.
- Online Banking: Mashreq Bank typically offers robust online banking services, allowing you to manage your Easy Saver Account conveniently from anywhere with internet access.
- Security: Like any reputable bank, Mashreq prioritizes the security of your funds, offering peace of mind knowing that your savings are in safe hands.
- Additional Features: Depending on the specific offering at the time, there may be additional features such as mobile banking apps, alerts, or other perks that enhance the overall banking experience.
Overall, the Mashreq Easy Saver Account provides a hassle-free way to save money while offering competitive rates and convenient features.
Faq : Mashreq Easy Saver Account
What is the Mashreq Easy Saver Account?
The Mashreq Easy Saver Account is a simple savings account offered by Mashreq Bank, designed to provide customers with an easy and convenient way to save money.
What are the eligibility criteria for opening an Easy Saver Account?
Eligibility criteria may vary depending on the bank’s policies and regulations. Your monthly salary should be more than 5000 AED, your age should be more than 18 years, if you are employed then you will be able to open it by entering the details of your guardian, apart from this, if you have a bank account in Mashreq bank then also you will be able to open this account
Is there a minimum balance requirement for the Easy Saver Account?
If you open an Easy Saver Account in this bank, then you do not need to maintain any kind of balance here, there is no need to pay any kind of fee in the account here, it is your complete zero balance account.
What interest rates are offered on the Easy Saver Account?
If you keep a balance in this bank account, then you get interest at the rate of 2.40% per annum. This bank account can be used to send money to more than 50 countries.
Can I access my Easy Saver Account online?
Yes, Mashreq Bank typically offers online banking services, allowing customers to access and manage their Easy Saver Account online through the bank’s website or mobile banking app.
How can I deposit and withdraw funds from my Easy Saver Account?
Customers can typically deposit funds into their Easy Saver Account through various channels, including bank branches, ATMs, online transfers, or direct deposit. Withdrawals can often be made in person at bank branches, ATMs, or through online banking services.
Is the Easy Saver Account insured?
Banks often provide deposit insurance to protect customers’ funds up to a certain limit. Customers should check with Mashreq Bank or the relevant regulatory authority to confirm the deposit insurance coverage for the Easy Saver Account.
Can I link my Easy Saver Account to other accounts or services?
Depending on the bank’s offerings, customers may have the option to link their Easy Saver Account to other accounts or services, such as checking accounts, investment accounts, or bill payment services.
How do I close my Easy Saver Account?
To close an Easy Saver Account, customers typically need to visit a bank branch or follow specific procedures outlined by Mashreq Bank. It’s important to ensure that all funds are withdrawn from the account and any outstanding transactions are settled before initiating the account closure process.
Conclusion
In conclusion, the Mashreq Easy Saver Account offers a simple and convenient way to save money with several attractive features. With no minimum balance requirement, competitive interest rates, and easy access to funds, it’s an accessible option for individuals looking to grow their savings without the hassle of complex account requirements.
Additionally, the ability to manage the account online provides added convenience, allowing customers to monitor their savings and conduct transactions from anywhere with internet access. While specific details may vary, the Easy Saver Account typically aligns with Mashreq Bank’s commitment to providing secure and customer-friendly banking solutions.
Overall, the Easy Saver Account presents a compelling choice for those seeking a hassle-free savings account with the potential for steady growth.
| Terms of condition | terms check |
| Account booklet | Open Booklet |
