Comparison

MTB Neo vs MBL Rainbow

Price, ratings, monetisation and update history for both apps, side by side — with what reviewers say about each.

Head to head
About

MTB Neo

Manage your bank accounts and perform various financial transactions on the go. This app allows real-time account viewing, fund transfers, mobile recharges, and bill payments. It also facilitates opening new products and ordering checkbooks, all secured with advanced encryption and two-factor authentication.

Highlights
  • Real-time account information
  • Fund transfers (local & international)
  • Mobile top-up
  • Credit card management
  • Bill payments
  • FDR & DPS account opening
  • Checkbook ordering
Features
Read full description

Stay connected to your MTB account and services 24/7 with the MTB Neo App, now available for iOS devices. This convenient, free service is offered to all MTB customers registered for the MTB Neo App. With the MTB Neo, you can: * View account information in real-time * Transfer funds to MTB or other banks via NPSB/BEFTN/RTGS * Perform MFS transfers and add beneficiaries * Recharge mobile phones instantly * Access credit card details and pay bills (in local and international currencies) * Opening FDR & DPS products * Order checkbooks and much more How do you activate the MTB Neo App on your device? 1. Click on Register to MTB Neo 2. Input your registered mobile number 3. Verify OTP 4. Select your bank account number or card number 5. Set your user ID and password 6. You are ready to log in to MTB Neo Your Security Is Our Priority MTB ensures a secure mobile-based banking experience with state-of-the-art security features: * Registration Required: You must be registered for MTB Neo to access the iOS app. * Activation Process: App usage requires an activation request from your MTB Neo account. * Advanced Encryption: The service is secured by SSL encryption and additional proprietary encryption technology from MTB. * Device Restriction: Only registered devices can access the MTB Neo iOS App. * Two-Factor Authentication: Every transaction is protected by two-factor authentication for added security. Need Assistance? Our 24/7 MTB Contact Centre is here to help: * Domestic Calls: 16219 or 096040 16219 * International Calls: +880 96040 16219 * Email: customer.service@mutualtrustbank.com With MTB Neo, enjoy seamless, secure, and convenient banking at your fingertips!

About

MBL Rainbow

Manage your banking needs conveniently from your smartphone. Facilitates various transactions including payments, online purchases, fund transfers, and mobile top-ups. Offers digital account and card management, with real-time notifications for all your activities.

Highlights
  • Digital account and card onboarding
  • Fund transfers (internal, bKash, Nagad, bank)
  • e-Commerce and bill payments
  • Mobile top-ups
  • Account balance and summary view
  • Real-time transaction notifications
  • QR Cash withdrawal
Features
Read full description

Mercantile Bank Digital Banking Platform: "MBL Rainbow". For facilitating banking customers with various types of transactions, make payment, purchase online, transfer funds, top-up mobiles etc. from anywhere, anytime by using smartphones-Mercantile Bank Limited brings MBL Rainbow to color your Banking life. Features: • Digital on-boarding facilities (you don’t need to fill-up form/visit any branch/call to contact center) • Digitize your Account and Card with a very fast, secure and convenient way • Add money from Cards / MFS and Banks • e-Commerce Transactions • A-Challan Payment • Send money to bKash • Send money to Nagad • Open MBPLC Account through eKYC • Real time Funds Transfer within the MBPLC • Funds transfer to any Bank through BEFTN/RTGS/NPSB • BanglaQR Payment • Utility Bills Payment • Mobile top-ups • View all of your accounts with balance • QR Cash withdrawal from Branch. • View account summary • Get every transaction notification through email/SMS • Bill Payment digital receipt • Many more digital ways of doing banking.

Screenshots

MTB Neo4 screens
MBL Rainbow4 screens

Verdict

The call

The clearest difference is rating: MBL Rainbow at 3.6 against MTB Neo's 3.4. MTB Neo's advantage is review sentiment (41% vs 27%) and ratings volume (242 vs 38). On price, update cadence, ads and in-app purchases there is nothing between them.

Scored on Price · Rating · Positive reviews · Number of ratings · Update frequency · Ads · In-app purchases · Monetization · Best chart rank · Devices · Requires iOS

CostPrice · In-app purchases · Ads · Monetization

Both are free to download. Neither carries in-app purchases, so what you see is what you pay.

ReceptionRating · Positive reviews · Number of ratings

MBL Rainbow holds the better App Store score, 3.6 against 3.4. That said, the two scores are not equally well evidenced: MTB Neo has 242 ratings behind it against 38, so its average is the more settled of the two. Written reviews complicate that: 41% of MTB Neo's written reviews are positive against 27% of MBL Rainbow's, so the app with the better star average is not the one people write more warmly about.

UpkeepUpdate frequency

MTB Neo ships an update monthly, MBL Rainbow every 2 months. The most recent releases landed on October 23, 2026 and October 24, 2026 respectively.

Scorecard3 real differences · 7 level
MTB Neo versus MBL Rainbow: the parameters behind the verdict, then further details
ParameterMTB NeoMBL Rainbow
PriceFreeFree
Rating3.4 (242 ratings)3.6 (38 ratings) — better
Positive reviews40.7% of reviews — better27.3% of reviews
Number of ratings242 — better38
Update frequencyMonthly — betterEvery 2 months
AdsNoNo
In-app purchasesNoNo
MonetizationFreeFree
DevicesiPhone, iPad, iPod — betteriPhone, iPod
Requires iOS15.614.0 — better
Further details — not scored
Size140 MB86 MB
Age rating4+4+
DeveloperMutual Trust Bank LimitedMercantile Bank Ltd

Customer experience

MTB Neo

All ratings242 ratings
Positive58.3%
Neutral6.2%
Negative35.5%
Written reviews123 reviews
Positive40.7%
Neutral6.5%
Negative52.8%

MBL Rainbow

All ratings38 ratings
Positive60.5%
Neutral10.5%
Negative28.9%
Written reviews11 reviews
Positive27.3%
Neutral36.4%
Negative36.4%

Bugs and requests

MTB Neo

Reported bugs

5 issues
  • App crashes on launch for new iPhones
  • App not working on iPad Air 6
  • Credit card details not visible in the app
  • QR payment not working
  • Registration process bug causing app to close

Requested features

5 requests
  • Add option to choose OTP delivery method
  • Provide deposit scheme closure option in the app
  • Bring back transaction screenshot sharing feature
  • Add card to Apple Wallet integration
  • Improve RTGS feature

MBL Rainbow

Not enough reviews yet to summarise bugs or requests.

In-app purchases

None

MTB Neo

No in-app purchases

None

MBL Rainbow

No in-app purchases

Questions

Is MTB Neo free?
MTB Neo is free to download, with no in-app purchases.
Is MBL Rainbow free?
MBL Rainbow is free to download, with no in-app purchases.
Which has better reviews, MTB Neo or MBL Rainbow?
MBL Rainbow is rated higher. MTB Neo averages 3.4 out of 5 from 242 ratings, while MBL Rainbow averages 3.6 from 38 ratings.
Do MTB Neo or MBL Rainbow have ads?
Neither MTB Neo nor MBL Rainbow shows ads.
Which is updated more often, MTB Neo or MBL Rainbow?
MTB Neo ships an update monthly, and MBL Rainbow every 2 months. Most recently, MTB Neo was updated on October 23, 2026 and MBL Rainbow on October 24, 2026.

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