UNB introduces deposit product with innovative advance interest feature

UNB introduces deposit product with innovative advance interest feature
Union National Bank, one of the UAE’s leading banks, has announced the introduction of the interest in advance deposit - an innovative deposit product that enables account holders to receive interest on their deposits in advance as and when they place the deposit with UNB, instead of at the time of deposit maturity.
Customers can book an Interest in Advance Deposit for a minimum amount of AED 100,000. Customers can choose a period from a range of 9 months to 24 months based on their convenience.
Commenting on the launch of UNB’s latest innovative product offering,
Mahmoud Halawa, Executive Vice President & Head of Business Groups of UNB said: “The Interest in Advance Deposit Account has been introduced to provide our customers with an attractive value-addition and is in line with our philosophy of being ‘the bank that cares’. The guaranteed return on deposits at the time of placing their deposit with us enables customers to enjoy immediate liquidity”.
“This latest initiative underlines our commitment to offer innovative products and services in a bid to help our client base accomplish their financial goals ", he added.
The launch of this latest product that is primarily targeted at medium & High Net Worth Individuals, is in line with the UNB's multi dimensional approach aimed at targeting all segments of the UAE community via various socio-economic initiatives. The bank has recently launched a number of initiatives as part of this holistic approach aimed at enhancing customer service offerings as well as providing flexible business operations and energizing civic responsibility programmes.