1.Mashreq Millionaire Savings Certificates (hereinafter referred to as the "Certificates") are non-bearer and open-ended, having a face value of AED 1000.
2.These Certificates are non-transferable, non-negotiable and non-pledgeable to any third party.
3.These Certificates are non-interest bearing.
4.The Certificates are eligible for prizes in Mashreq Millionaire draws as announced by Mashreq from time to time. Mashreq reserves the right to close the scheme at any time by giving a 4-month notice, in which case the money would be refunded to the customers.
5.The Certificate should also be active and valid on the date of draw.
6.Customer is at liberty to encash the Certificate(s) at any time after 90 days from the date of purchase. Any encashment within 90 days from the date of purchase shall be subject to a nominal pre-encashment fee.
7.To encash the paper Certificate(s), customers have to sign on the reverse of the original Certificate(s) and present it to the branch along with a valid original photo ID (Passport/Emirates ID/Labour Card).
8.The money will be disbursed within 72 hours of redemption request upon signature and identity verification for cash purchases or depositing into account.
9.The Bank and financial institutions have the right to block the funds transferred to the customer's account in the case of suspicion of money laundering or financial terrorism or terrorist organisation.
10.The Certificates will be issued in one name only.
11.The Certificates can be bought only in individual names.
12.Every Certificate qualifies for all draws.
13.Customer can subscribe to these Certificates from any branch of Mashreq, Mashreq Online Mashreq Mobile, Mashreq ATM and Phone Banking (for Mashreq customers) and Mashreq Neo app (for Mashreq Neo customers)
14.Customer can save with Mashreq Millionaire Certificates by transferring funds from Mashreq Account or depositing cash.
15.Customer can also pay by Cheque drawn on any Bank in the respective Emirate, or a transfer from other banks. In such cases, the Certificate will be issued only on receipt of funds by Mashreq.
16.The Bank reserves the right to introduce any charges, at any time and forfeit the prize money if not claimed within two months of announcing the winning number.
17.The Mashreq Millionaire prizes will be issued within 60 days from the draw date. In case the winner is uncontactable, the winning amount will be handed over to the Department of Economic Development Government of Dubai a week before 60 days.
18.The issuance of Mashreq Millionaire Certificates is subject to Mashreq's acceptance of the application.
19.In order to ensure transparency of the draw process and ensure integrity of the product, the Bank has the right to advertise the winning numbers, winners' names and nationalities of the customers as and when required. In case they win, customers agree to make themselves available for photography as required by the Bank, which will also be advertised as required by the Bank.
20.The Bank is not responsible for any loss in transit of application forms, payment instructions, Certificates or any other document, unless such loss is caused by the Bank.
21.Civil courts of the UAE shall have exclusive jurisdiction to resolve any dispute arising out of the above transaction.
22.Employees of Mashreq and subsidiaries, along with their immediate family (spouse and children), are not eligible to hold Mashreq Millionaire Certificates.
23.At the time of encashment of Mashreq Millionaire Certificates that are held in minor's (21yrs and below) name, the father must be the guardian/co-signatory.
24.If the customer's details are unsatisfactory as per the bank requirements at anytime, Mashreq bank psc reserves the right to cancel the certificate and refund the proceeds as per bank's regulations.
25.If the customer, redeemed Mashreq Millionaire certificate through Mashreq Online, Mashreq Mobile or Mashreq Neo app, for digital certificates purchased through Branch, The physical certificate will not be valid from the time of encashment of the certificate.
26.The minimum certificate holding period to qualify for any draw is 2 days. Certificates purchased less than two days prior to the draw will not qualify for the following draw. Such certificates will however qualify for all draws thereafter. Example: In order to qualify for a draw on Thursday, the 25th of Jan, the customer should purchase the certificate latest by Tuesday, the 23rd of Jan before 4:00 p.m UAE time to qualify the following draw.
27.Customer should provide a valid contact number at the time of purchasing Mashreq Millionaire Certificate/s. Customer with no contact number will be excluded from all Mashreq Millionaire draws.
28.Mashreq at its sole discretion may change the prize value and draw date(s), without prior notice.