Dubai Mashreq Noon Savings Account Opening | UAE

Mashreq Noon Savings Account offers great benefits to maximize your savings including up to 2% cashback, interest rates up to 1.10% per annum, and no minimum balance requirement. This account has been designed to meet the diverse needs of modern servicers. Whether you’re shopping at noon.com, enjoying the convenience of NowNow and Sivvi, or transferring money globally, the Mashreq Noon Savings Account ensures you’re always rewarded. Open your account quickly and easily in 5 minutes with just a valid Emirates ID. After becoming a Mashreq customer, you can use mobile banking immediately.

In this post, we will tell you the complete process of opening a Mashreq Noon Savings Account, by following which you will be able to open this account sitting at home without going to the branch. Eligibility Criteria of this account, Benefits available in the account, Features, Important documents and where to open this account. To know all this you can use, stay here with us till the end.

Mashreq Noon Savings Account Overview

If you want to open a Mashreq Noon Savings Account, then I have made a complete overview of this account below. Before opening the account, you should definitely take a look at it.

Feature	Details
Cashback	Up to 2% cashback on purchases at noon.com, noon Grocery, NowNow, and Sivvi with Mashreq noon Debit Card. 0.10% on all other purchase transactions.
Interest Rate	Up to 1.10% per annum, calculated on the monthly average balance and credited monthly.
Rewards	Accelerated Mashreq Vantage reward points up to 2,000 points upon balance maintenance. Note: Earning of points on debit card transactions will be discontinued from September 1, 2024.
International Transfers	1 free international transfer per month.
Account Setup	Open an account in just 2 minutes with a valid Emirates ID. Scan Emirates ID, take a selfie, enter personal details, and choose account type.
Minimum Balance Requirement	No minimum balance required if salary of AED 5,000 or more is transferred into the account.
Debit Card	Easy access to funds anywhere, anytime through Mashreq noon Debit Card.
Eligibility Criteria	Minimum monthly income of AED 5,000, valid Emirates ID, and age 18 years or above (minors can apply with a guardian).
Account Currency	AED (Dirhams) only.
Cheque Book	Not available. For cheque book facility, apply for a Mashreq Current Account.
Interest Calculation	Calculated on the monthly average balance and credited at the end of every calendar month.
Cashback Redemption	Redeem cashback via noon pay wallet for noon orders or noon merchant partners.
Free International Transfers	One free international transfer per month; additional transfers charged as per Bank’s SOC (charges reversed at the end of the month).

Also Read

Al Hilal Bank Current Account Opening | Dubai UAE Account

Eligibility criteria 

Here are the eligibility criteria for Mashreq Noon Savings Account:

1. Minimum monthly income: AED 5,000

2. Requirement: Valid Emirates ID

3. Age: 18 years and above. A minor (under 18 years of age) accompanied by a guardian can also apply.

Necessary Documents 

Necessary documents will be required to open a Mashreq Noon Savings Account. The list of documents that you will need to open this account is as follows. 

1. Valid Emirates ID: As proof of identity and address.

2. Passport (if required): Passport may be required in some cases.

3. Visit Visa (if required): If the applicant’s visa is still in process.

4. Proof of minimum monthly income: Salary slip or income certificate.

Please Note: These documents are required to open a Mashreq Noon Savings Account. To open this account, you should have these documents available so that the process of opening your account can be fast and easy.

 Benefits of Mashreq Noon Savings Account

After opening Mashreq Noon Savings Account, many benefits are given in this savings account which are as follows

1. Cashback :

• Up to 2% cashback on purchases at noon.com, noon Grocery, NowNow and Sivvi.
•  0.10% cashback on all other purchases.

2. Interest Rate:

• Interest rate up to 1.10% per annum.
• Interest is calculated on monthly average balance and credited at the end of every calendar month.

3. Reward Points :

• Up to 2,000 Mashreq Vantage Rewards points on balance maintenance.
• From September 1, 2024, earning rewards points on debit card transactions will stop, but points earned till August 31, 2024 will remain unaffected.

4. International Transfer:

•   1 free international transfer per month.

5. Easy Account Setup:

• Open account in just 2 minutes.
• With valid Emirates ID. 

6. No Minimum Balance Required :

• If salary of AED 5,000 or more is transferred to your account.

7. Debit Card :

• Access funds anytime, anywhere through Mashreq noon debit card.

8. Free Transfer :

• Transfer money to over 40 destinations.

These benefits of Mashreq Noon Savings Account provide you with a great savings experience, including cashback, higher interest rates and other special benefits.

Also Read

Open Bank Accounts in the UAE: A Step-by-Step Guide for Current, Savings, and Business Accounts

Mashreq Noon Savings Account Apply Process

The following step by step process can be followed to open Mashreq Noon Savings Account. If you follow the step by step process mentioned here, your account will be opened in just 2 minutes. 

1. Open Mashreq Bank Website:

 Open the official Mashreq Bank website in your web browser.

2. Click on Menu Tab and Select Account Section:

Go to the main menu on the website and select the “Account Section”.

3. Choose Savings Account and then Click on Mashreq Noon Savings Account :

From the savings account options, select Mashreq Noon Savings Account.

4. Click on APPLY NOW :

Click on the APPLY NOW button.

5. Choose One Option:

Select “Apply as a new customer” and sign in to apply.

6. Click on Get Started :

Click on Get Started to begin the application process.

7. Enter Details:

 Fill in your mobile number, email, confirm your email, accept the terms and conditions, and then click the Next button.

8. OTP Verification:

Enter the 6-digit OTP received in the OTP box.

9. Capture Emirates ID:

 Capture an image of your valid Emirates ID.

10. Enter Full Name:

 Enter your full name as it appears on your passport, and click the Next button.

11. Identification Verification:

 Capture a selfie to verify your identity.

12. Enter Work Details:

 Fill in your company name, designation, annual turnover, work address (apartment, villa number, building number, street number, area, Emirate).

13. Choose Account Type:

   Select Mashreq Noon Account.

14. Tax Details:

   Answer if you are a US Person, and provide any other required tax details.

15. Enter Address Details:

   Fill in your address details (apartment, villa number, building number, street number, area, Emirate).

16. Create Username and Password: 

Create a username and password for your account.

17. Congratulations! Your Account is Now Opened and Activated:

Once all steps are completed, you will receive a confirmation that your account is opened and activated.

You can easily open a Noon Savings Account in just 5 minutes by following these steps. To open this savings account, you must have a smartphone and it must have an internet facility. Apart from this, you must have the original Emirates ID. , passport, a mobile number, an email ID and a selfie will be required. After filling all this information, your bank account gets opened here. 5 minutes after the bank account is opened, you can start using this savings account by activating mobile banking here.

Also Read

How To Open Mashreq Bank Money Multiplier Account | UAE

Restrictions for Mashreq Noon Savings Account

If you open a Mashreq Noon Savings Account, are there any restrictions here? Information about this is given in the table below so that you will be able to guess that if you are opening a savings account here then how will it be for you? 

Restriction	Details
Minimum Monthly Income	Minimum monthly income of AED 5,000 is required to open the account.
Age Requirement	Must be 18 years old and above. Minors (below 18) can apply with a guardian.
Account Currency	The account can only be opened in AED (Dirhams).
Cheque Book Facility	Cheque book facility is not available with this account.
Reward Points on Debit Card	Earning Mashreq Vantage points on debit card transactions will be discontinued from September 1, 2024.
Number of Free International Transfers	Only 1 free international transfer per month is allowed. Additional transfers will be charged.
Nationality and Residency	Valid Emirates ID required, indicating residency in the UAE.
Minimum Salary Transfer	No minimum balance requirement or fall below fee if salary of AED 5,000 or more is transferred.
Self-Employed Individuals	May require additional documentation for proof of income.

Mashreq Bank Customer Care Number

For any inquiries or assistance related to Mashreq Noon Savings Account, you can contact Mashreq Bank customer care at:

Customer Care Number: +971 4 424 4444

This number is available for all your banking queries and support.

Frequently Asked Questions (FAQ) : Mashreq Noon Savings Account

Conclusion

In summary, the Mashreq Noon Savings Account is a well-rounded banking solution, providing competitive interest rates, cashback rewards, and seamless digital banking experiences, making it a suitable choice for residents in the UAE looking to enhance their financial management. If you face any problem in opening this account, you can comment below and you will get a reply after 2 hours.