Innovative term deposit scheme offers interest payout on monthly basis
Dubai, May 25, 2010: Emirates NBD, a leading bank in the region, announced today the launch of Monthly Interest Payout Fixed Deposit - an innovative fixed deposit scheme that enables customers to sign up for a fixed deposit and obtain interest payouts on a monthly basis, rather than having to wait for the maturity of the deposit.
"Customer convenience and satisfaction are driving factors at Emirates NBD, as we work across various segments to provide clients with value-added solutions that meet their financial requirements," said Mr. Jamal Bin Ghalaita, Group Deputy CEO, Emirates NBD. "The new initiative addresses the cash-flow problem normally associated with term deposits, providing increased flexibility and convenience to clients."
The Monthly Interest Payout Fixed Deposit, which requires a minimum deposit amount of AED 10,000 or its equivalent, is available in various currencies, including the UAE dirham, US dollar, the British pound and the euro. Deposits must be for a minimum tenor of three months, while the maximum term can extend to a period of three years.
"Fixed deposits encourage and facilitate the habit of saving, but clients often hesitate to participate in such schemes because of the inconvenience of their funds being inaccessible for the period," said Mr. Jamal Bin Ghalaita. "With this new and innovative Monthly Interest Payout Fixed Deposit, customers do not have to wait until the maturity of the deposit to receive the interest accrued."
The bank has also devised special promotional rates, which will be available for amounts equivalent or greater than AED 100,000. More information on the product is available at any Emirates NBD branch. Alternatively, the information is also available on the Bank's website, www.emiratesnbd.com or by calling 600540000.
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About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading bank in the region.
Emirates NBD has a leading retail banking franchise in the UAE, with 132 branches, 705 ATMs and SDMs. It is a major player in the UAE corporate banking arena, and has a strong Islamic banking, investment banking, private banking, asset management and brokerage operations.
The bank has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom and Jersey (Channel Islands), and representative offices in India, Iran and Singapore. For more information, please visit: www.emiratesnbd.com
For further information, please contact:
Hassan Al Khuwaildi
Assistant Manager - Communications
Group Marketing
Emirates NBD
Parisa Ansarian / Sudha Chandran
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
Email: p.ansarian@asdaa.com / s.chandran@asdaa.com
© Press Release 2010
