Dubai, Jul 20th, 2010 (WAM) -- Emirates NBD announced today the launch of FlexiDeposits, an innovative product that allows customers to make partial withdrawals from their fixed deposit, while still keeping the rest of the deposit intact. The new initiative has been launched with the objective to offer customers the comfort of flexibility, security and high returns, all together in one fixed deposit offering.
Liquidity and cash flow become significant issues for clients, when their money is tied up for extended periods of time in fixed deposits," said Shekhar Krishnamurthy, Head of Retail Assets and Liabilities, Emirates NBD. "This is most evident during times of financial emergencies, when people are forced to break their fixed deposits and derail their savings plans. The new initiative from Emirates NBD encourages customers to continue with their long-term savings plans, while at the same time offering them innovative solutions to provide for their short-term requirements", said Vikram Krishna, Head, Group Marketing, Emirates NBD. FlexiDeposits, which require a minimum deposit amount of Dhs100,000 or its equivalent, is available in the four major currencies - the UAE dirham, the US dollar, the British pound or the euro. Deposits must be for a minimum tenor of six months, while the maximum term can extend to a period of three years. Partial withdrawals from a FlexiDeposit can be made in multiples of Dhs10,000. The frequency of the withdrawals is unlimited, thus facilitating clients to fulfil their savings plans, while giving them the confidence that their money is both easily accessible and offers profitable returns.Copyright Emirates News Agency (WAM) 2010.
