Terms and conditions governing MashreqMillionaire Savings Certificate
- MashreqMillionaire Savings Certificates (hereinafter referred to as the "Certificates") are non-bearer and open-ended, having a facevalue of AED 1000.
- These Certificates are non-transferable, non-negotiable and non-pledgeable to any third party.
- These Certificates are non-interest bearing.
- The Certificates are eligible for prizes in MashreqMillionaire 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.
- The Certificate should also be active and valid on the date of draw.
- 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.
- To encash the Certificate(s), customers have to sign on the reverse of original Certficate(s) and present it to any branch of Mashreq in UAE along with a valid original photo ID (Passport/Driving Licence/Labour Card).
- The money will be disbursed immediately upon signature and identity verification for cash purchases, or refunded back onto the Card if purchased via Credit Card.
- 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.
- These Certificates will be issued in one name only.
- These Certificates can be bought only in individual names.
- Every Certificate qualifies for all draws.
- Customer can subscribe to these Certificates from any branch of Mashreq, MashreqOnline (for Mashreq customers), Phone Banking (for Mashreq customers) and partner outlets in the UAE after filling the application form.
- Customer can save in with MashreqMillionaire Certificates by transferring funds from Mashreq Account, depositing cash or through Debit/Credit Cards.
- 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.
- The Bank reserves the right to introduce any charges, at any time and forfeit the prize money if not claimed within six months of announcing the winning number.
- The issuance of MashreqMillionaire Certificates is subject to Mashreq's acceptance of the application.
- 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.
- 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.
- Civil courts of the UAE shall have exclusive jurisdiction to resolve any dispute arising out of the above transaction.
- Employees of Mashreq and Osool Finance Company, along with their immediate family (spouse and children), are not eligible to hold MashreqMillionaire Certificates.
- At the time of encashment of MashreqMillionaire Certificates that are held in minor's (21yrs and below) name, the father must be the guardian/co-signatory.
- If the customer's details are unsatisfactory as per the bank requirements at anytime, Mashreqbank psc reserves the right to cancel the certificate and refund the proceeds as per bank's regulations.
- Mashreq at its sole discretion may change the prize value and draw date(s), without prior notice.
