Customers will get one of the best returns on fixed deposit that is capital guaranteed.
Dubai - UAE, 23rd February 2014: Mashreq, a leading financial institution in the UAE, today announced the launch of a new product namely Step-Up Saver, a capital guaranteed savings scheme that is designed for customers to get one of the best returns on a 18-month fixed deposit by accelerating the rate of interest to 4% in the 18th month!
The Step-Up Saver scheme is ideal for both salaried and self-employed individuals looking for better returns on a medium term savings with a capacity to set aside AED 10,000 in fixed deposit for 18 months. The interest in the Step-Up Saver is accrued daily and paid on maturity. The account is designed to encourage customers to save without being prone to risk.
Commenting on the launch of the Step Up Saver, Tooran Asif, Head of Personal Banking said: "We recognize the needs of all our customers and the Step-Up Saver is well positioned to cater to the needs of our customers who are looking for a capital guaranteed savings scheme that offers higher returns on small ticket deposits for a medium term saving. The Step-Up Saver also offers up to 10,000 complimentary Salaam points. The complimentary Salaam points are awarded every month based on the value of deposit with minimum deposit amount to be AED 100,000."
Tooran added, "Mashreq has always been at the lead in bringing in new products and services that cater to all our customers. This capital guaranteed deposit scheme that we have introduced is also ideal for customers with medium term saving plans."
Mashreq customers can open the Step Up Saver account online in less than 5 minutes. For further information on the Step-Up Saver, visit mashreq.com/stepup
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About Mashreq:
Mashreq is one of the UAE's leading National Financial institutions and the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts, it was the first to launch such products as travelers' cheques, credit cards and ATMs.
Mashreq has received numerous international awards reflecting the bank's successful record, such as the Best Credit Card and Best Debit Card by Smart Card Awards Middle East 2013, Best Retail Bank UAE Award by Global Banking & Financial Review 2013, Best Banking Group in UAE by World Finance, Best Banking
Innovation, Best Islamic Window, Best Technology Implementation by Banker ME Industry Awards 2013, Best Loan House in UAE by EMEA Finance Middle East Banking Awards 2013, Best Debt House Award by EMEA Finance 2012, Best Regional Consumer Internet Bank for Online Deposit, Credit and Investment Product offerings' by Global Finance Best Internet Bank Awards 2012, Best Regional Retail Bank by The Banker ME Industry Awards 2012, Best Branch Design & Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund from Banker Middle East Product Awards 2012, Dubai Human Development Appreciation Award 2012 for its efforts towards the Development of the Emiratisation initiative.
As a leading financial Institution in the UAE, Mashreq aims to be world class in every facet of its business; including its social responsibility to the community it serves in. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.
© Press Release 2014
