A novel compact multiple-input–multiple-output (MIMO) antenna system operating from 5 to 7.3 GHz is proposed for wireless applications. It comprises of two similar antennas with microstrip feeding and radiating patches developed on a reduced ground plane. The developed antenna system resonates at a dual-band of 5.4 and 6.8 GHz frequencies, giving an impedance bandwidth of 38% (based on S11 < −10 dB). The unique structure of the proposed MIMO system gives a reduced mutual coupling of −27 dB at 5.4 GHz resonant frequency and −19 dB at 6.8 GHz resonant frequency and in the entire operating band the coupling is maintained well below −16 dB. The envelope correlation coefficient of the proposed MIMO system is calculated and is found to be less than 0.05 in the operating band. The measured and simulation results are found in good agreement.