*Applicable for accounts opened 2021 onwards & salary transfers made Sep 1, 2021 onwards
Cashback across 6 months
Cashback is based on your first salary and will be credited across 6 equal monthly payments. Cashback will be reversed if no salary is transferred for 3 consecutive months (within 12 months of first transfer).
Have a Neo account?
You may wish to use this format to reach out to your HR department
Please transfer my salary/payroll to Mashreq Neo with immediate effect. The necessary account details are below:
Account Holder Name:(Full name)
Account Number: (Refer to Neo App)
Swift Code: BOMLAEAD
Sorting code / Routing Code: 203320101
You need to transfer a minimum monthly salary of at least AED 5,000 to earn Neo salary transfer cashback .
You can write to your HR to transfer salary to your Mashreq Neo account by using the email template. This template is also available on the app: Login to Neo app > Tap on More > Transfer your salary > Email my HR
Total salary cashback amount will be based on the first salary deposited in your account and will be credited in equal monthly installments over a period of 6 months into your Neo Account. Each installment will be credited within 90 days from the date of the salary transfer in the respective months.
A salary transfer will only be recognised by Mashreq if it is credited to the account by the Customer’s employer registered in UAE using the correct channel and method recognised by the Bank. A remittance, direct transfer, cash or cheque credit transaction by the Employer will not be considered as a salary transfer transaction and will lose the eligibility of any benefits defined under this offer. An erroneous salary transfer description could also result in the non-payment of the cash joining benefit
Yes, you will be eligible for salary cashback under Mashreq Neo if you decide to transfer your salary to Neo and receive a continuous salary credit of AED 5,000 or more on a monthly basis in your Neo account.
If the salary transferred is below AED 5,000 in a month, the customer will not be eligible for cashback in that month. However, in the subsequent months, when salary transferred is above AED 5,000, he/she will become eligible and will continue to receive salary cashback, based on the first salary calculation.
If your salary increases you cannot claim a different cashback value during that month. Salary cashback is calculated based on your first salary transfer.
If salary is not transferred in a given month; the customer will not be eligible for cashback in that given month. However, during subsequent months, when salary is transferred (above AED5,000) the Customer will continue earning cashback, based on the first salary calculation.
If salary is not transferred in the Neo Account for 3 months in a row, within 12 months of the first salary credit; all previous salary cashbacks will be clawed back and the salary cashback amount credited by the Bank shall be debited from the Customer’s account
You have a maximum of 7 months from the first month of eligible salary transfer.