Tooran Asif, Head of Personal Banking, Mashreq
Mashreq, the UAE’s leading financial institution, has today announced the launch of a special savings account, ‘DreamSaver’ that encourages customers to save regularly in order to achieve a pre defined financial goal. This first of a kind innovative savings account encourages saving discipline and is set to help consumers self actualize their dreams by meeting their financial goals and ambitions. DreamSaver helps customers to quantify the value of the goal and decide on the time horizon to achieve the goal, as well as clearly showcasing the regular contribution required to achieve the goal.
Whether it’s planning to buy a car or preparing for the next vacation; ‘DreamSaver’ gives consumers a unique flexibility to select the ‘dream’ & choose the tenure & savings option to meet the stated objective. The end return is guaranteed & gives complete peace of mind. Unlike traditional products there is no penalty on early exit in order to meet some unforeseen financial need. Mashreq customers do not have to worry about the economic climate and the affect it has on their savings, as savings accumulated are immune to market vitality, unlike investment in stocks and bonds.
The best part of DreamSaver is the ability to save anytime and anywhere, as they will have the option to use online banking via MashreqOnline as well as Mashreq’s mobile banking platform, Snapp and save on the go. Customers can share their goals with their social circle via email and friends & family can help in contributing monetarily towards achieving of the set goal.
Tooran Asif, Head of Personal Banking, Mashreq said: “Saving towards a goal or a target works very well. We have put together a financial solution for our customers not only to achieve their dreams but also motivate them to start saving in general.”
Asif continued, “At Mashreq our primary focus is meeting the evolving needs of our customers and we aspire to help them achieve their goals in life with complete flexibility and efficiency. With the DreamSaver account, customers have the option of choosing their investment horizon basis their envisaged financial goal. The digital experience & the convenience we offer in operating this account is what will define the future of banking.”
Customers have the freedom to save regularly or impulsive saving and can withdraw up to 100% at any point with no penalty.
Any existing Mashreq customer can use ‘online banking’ to set up a ‘Dream Saver’ account. It’s equally fun to visualize the progress & evaluate mile stones towards achieving the goal, using Mashreq’s mobile banking application.
In a consumer driven society, Mashreq aims to encourage savings behavior among customers in a flexible, convenient and simple way. The DreamSaver will help customers set savings targets with regular guidance by Mashreq so they stay motivated to achieve their goals.