As the global recession continues to be felt in the UAE, Mashreq has revealed that residents in the UAE are focused on saving their money, with their main priority being able to achieve future financial security.
First quarter 2009 saw confidence return with a significant increase in deposits into Mashreq’s Easy Saver accounts. Commenting on this trend, Douglas Beckett, Head of Retail Banking Division said: “The challenging economic environment has made customers re-evaluate their investment strategies and focus on how to get the most value out of the money that have. Customers need safe and secure savings options that are going to give them a real return on their investments, but they also need easy access to their funds in time of need”.
“We pride ourselves on offering very competitive interest rates and the most convenient service when it comes to saving. The success of our Easy Saver account with a 5.5% interest rate speaks for itself. In the current climate people are looking at all options to make their life as financially efficient as possible and need to feel confident that their savings are giving them the highest possible return. “
The Easy Saver account currently offers an attractive interest rate of 5.5% per annum on AED and 3% per annum on USD. There is no minimum balance required and the account is completely free. Customers can deposit as little as 1 AED or 1 USD and will start earning interest immediately. Funds are immediately available in need and there is no minimum deposit period.
“We have, and we continue to reassess our offerings to provide the best value to customers in the form of risk-free, capital guaranteed investment opportunities,” added Beckett. “While people cut back on their spending habits, we aim to direct them towards easy and convenient methods of making best use of their savings.”
