Mashreqbank launches High Coupon Festival
With deposit interest rates at an all time low, Mashreqbank has launched a high coupon festival investment product targeting risk-averse investors seeking a higher rate of return. The investment is available until February 24, or earlier if fully subscribed. It has a minimum investment requirement of $5,000 and multiples of $5,000 thereafter.
The five-year, 100 percent principal guaranteed fund offers investors a guaranteed return of 5.5 percent per annum for the first six-month period. This is over four times the current fixed deposit rates. During each subsequent six-month period, the interest rate remains at 5.5 percent for the number of days the dollar LIBOR remains at or below preset barriers. The barrier for the second period is set at 2.5 percent, increasing by half a percent for each subsequent six-month period, culminating at 6.5 percent for period 10. — (menareport.com)
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