First Gulf Bank (FGB) is hoping to help parents plan ahead with its new ChildFirst account, which offers up to 1 per cent interest and the chance to have their tuition fees refunded through a raffle every quarter.
Parents encouraged to plan ahead for education by UAE banks
School fees are one of the biggest expenses for parents in the UAE and planning ahead can be difficult for many.
But First Gulf Bank (FGB) is hoping to help parents plan ahead with its new ChildFirst account, which offers up to 1 per cent interest and the chance to have their tuition fees refunded through a raffle every quarter. The ChildFirst account can be opened with Dh3,000 or more and carries no maintenance or fall-below fees.
The account offers 0.5 per cent interest if a minimum of Dh5,000 is kept in the account. Interest increases to 1 per cent if a minimum of Dh2,000 is deposited each month and the average balance is more than the previous month.
"We want to help as many parents as possible in providing their children with the best education, to create a better future for our community," says Huda Abdulla, the executive vice president of branch distribution at FGB.
FGB will hold a quarterly raffle for customers who have a Dh5,000 deposit in the ChildFirst account, giving them the chance to win up to Dh100,000 as a reimbursement of tuition expenses. There are also no charges for full or partial withdrawal of monies from the account.
"Through this account we aim to provide parents a rewarding and sustainable way to build savings to finance ever-growing education costs of their children," says Joyseej Mukherjee, the bank's head of liabilities.
For more information, call 600 5255000 or visit www.fgb.ae.
Abu Dhabi Islamic Bank (ADIB) and Etisalat have tied up to launch the country's first Islamic telecom card that allows users to earn free talk time for every dirham spent.
Customers who sign up for an ADIB-Etisalat Platinum card will also receive a bonus 2,000 minutes of free talk time through the MORE Reward points programme.
"Partnering with Visa and Etisalat to launch the UAE's first Islamic telecom card provides our customers with a unique product and a rewarding experience that enables them to connect with friends and family while also providing a number of additional benefits," says Dhafer Luqman, the executive vice president of retail banking at ADIB.
Other benefits include a free SMS transaction alert service and balance transfer facilities, while customers can earn vouchers and redeem MORE reward points through their purchases.
Go to www.adib.ae for details.