All about the Mashreq Millionaire
‘Who wants to be a Mashreq Millionaire?’ If you have spent some time in the UAE, chances are you would be familiar with this phrase. To give yourself a chance of winning this popular lucky draw, you have to buy Saving Certificates of Mashreq NEO (Mashreq Bank) and if the luck gods favour you, you have the chance to walk away with a cool AED 1M!
ALL YOU NEED TO KNOW ABOUT THE MASHREQ MILLIONAIRE
What would you do if a genie gave you a million dirhams? For some catching this lucky break might mean getting a brand new luxury car, for others, it could be a trip to their favourite holiday destination or investing in a palatial home. Business-minded folks might use it as seed money for their new entrepreneurial adventure.
While we don’t have genies in the real world, the next best thing is the Mashreq Saving Certificates. Each certificate costs AED 1000 and gives you a chance to win a million dirhams. Even if do not you win the bumper prize, draws of smaller prizes for AED 5000 and AED 1000 prizes take place every month. Additionally, you can win Salaam Points, which can be used for travelling and shopping. These non-interest bearing certificates offer a splendid opportunity for one and all.
MASHREQ MILLIONAIRE PRIZE STRUCTURE
The Mashreq Millionaire prize structure has been recently updated and now you have greater opportunity to win prizes.
MONTHLY PRIZES
- 25 Prizes worth AED 1,000
- 3 Prizes worth AED 5,000
- 50 Prizes of 10,000 Salaam Points (redeemable for airline tickets, hotels, retail stores, and cinemas)
QUARTERLY PRIZES
- 1 Prize of AED 1,000,000
(Every March, August and December)
Winners are notified by SMS and phone call. Hence, make sure that the details you provide when buying the certificate are accurate. You wouldn’t want to miss the call which can change your life for the better.
MASHREQ MILLIONAIRE DOCUMENTS REQUIRED
The good news is you don’t have to be a UAE national or a resident to buy Mashreq Certificates. As long as you are in the UAE legally, you can take part in the Mashreq Millionaire draw. The list of documents required is:
- Filled application form
- Valid Emirates ID copy and copy of passport and visa page
- For non-residents: Passport copy displaying UAE entry stamp. Bring original passport along to present it to the representatives).
- Certificates are held in one person’s name only and are non-transferable.
MASHREQ MILLIONAIRE ELIGIBILITY
In terms of certificates holding you have to meet certain measures to be eligible for the draw.
- A minimum of three certificates or more have to be bought at every new transaction.
- You need to hold at least 1 certificate to qualify for the draw.
- One needs to hold the certificate for at least two days before the draw. If the certificate isn’t purchased two days prior to the draw, it will not qualify for the following draw. However, it will qualify for draws thereafter.
- With one certificate you are eligible for all prizes.
- The bank retains the right to reject any application.
BUYING MASHREQ MILLIONAIRE SAVING CERTIFICATES
Mashreq Millionaire Saving Certificates can be bought at any of the Mashreq Bank Branches. Alternatively, you can reach the team at +971-4-424-4444 and a Mashreq Millionaire representative will help you buy these certificates. Another option is to buy the certificates online via Mashreq Online.
As mentioned earlier, each Mashreq Saving Certificate is worth AED 1,000. The greater number of certificates you own, the greater your chances are for winning the draw. The Department of Economic Development conducts and supervises all draws, so you can be sure of the transparency of the process.
ENCASHMENT PROCESS
The encashment process is fairly straight forward. If you have bought the certificate from a branch, you can simply take the original certificate to the branch or a digital copy of it with proof of identity to encash it. Alternatively, if you bought it via app or online, you can encash it on the same medium. If the encashment request is made within 90-days of purchase, pre-encashment charges will apply.
If your requirement of cash is short term, it would be prudent to utilise the government’s overdraft facility. It allows you to get 95% of your original investment in the certificate on a low-interest rate. Those who own 20 or more Mashreq Millionaire Saving Certificates are offered a Mashreq Bank credit card. You can avail of the advance cash facility on low-interest rates via the credit card.
If you have any further queries, you can call at +971-4-424-4444.
The banking system in the UAE is extremely transparent and works under strict regulations from the government. For example, opening a bank account in Dubai is a fairly simple process. So, open a bank account, save up AED 1,000 and pray for your lucky stars to shine. Another option is to try your luck with the Big Ticket.
New to the UAE? Stay tuned to MyBayut to learn all about life in this incredible country.
