Mashreq launches Step Up Saver scheme to encourage saving

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 18^th 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 http://mashreq.com/stepup