Plus Abu Dhabi Islamic Bank introduces a fixed-interest home financing package, and National Bank of Abu Dhabi expands its banking application to iPhone users.
Deals of the Week: ENBD takes its financial health check on the road
Emirates NBD (ENBD), the Dubai-based lender, has joined the growing movement for financial awareness in the Emirates with a roadshow that aims to educate its affluent customers on the benefits of wealth management.
The 41-day initiative will also offer ENBD's Priority Banking customers a financial health check, which will identify their personal financial goals and objectives, as well as explore solutions to help them to reach those goals.
"The mass affluent population in the UAE has been witnessing a significant growth rate in recent years despite tough global economic conditions," says Frederic de Melker, the head of Priority Banking at ENBD.
"Studies by TNS's Global Affluent Investor last year identified the UAE as one of the top five countries with considerable investable assets among the affluent. Given that much of this is newly acquired wealth, mass affluent customers are still relatively new to wealth management strategies and investment options to further grow their money."
Organisers of the roadshow, which started last month, are aiming to meet more than 800 customers across 16 of the bank's key Priority Banking Centres, where they can consult with investment specialists about their goals and put their personal finances to the test.
"Everyone has a unique situation and there are no concrete financial numbers that define success, but there are some rules of thumb that can help you gauge your progress and put you on the right track," says Mr de Melker.
For more information, go to www.emiratesnbd.com.
Abu Dhabi Islamic Bank, the second-largest Sharia-compliant lender in the Emirates, has launched a new home finance package that offers a 5 per cent fixed-interest rate for five years.
Although the rate is higher than some other home finance packages, such as United National Bank's current 3.99 per cent mortgage, ADIB's offer gives potential home buyers the security of knowing just how much their repayments will be for five years.
The bank says it offers 24-hour approval and customers do not pay any processing fees. The offer includes up to 85 per cent financing.
UAE residents earning a minimum salary of Dh20,000 can apply for up to Dh5 million to buy a home and Emiratis earning a minimum of Dh10,000 can apply for financing of up to Dh20m.
Go to www.adib.ae for details.
Less than a year after its launch, National Bank of Abu Dhabi (NBAD) has upgraded its mobile-phone banking application to include iPhone users.
The one-touch banking system, which can also be used on BlackBerrys and other smartphones using the Android operating system, allows NBAD customers to transfer funds, including remittances through its MoneyGram service, pay bills, make donations and view their accounts on their smartphones.
For more information and to download the app, go to www.nbad.com/domestic/channels/mobile_apps.php.