If you are residing in UAE as
expatriates, then you must think about some savings options. For this purpose, the best way is to have a savings account in a renowned bank. Yes, it is true that
you can approach any bank in UAE but the services are limited according to your
income and investment you would put in your banking tasks. But following are
the ways to improve the savings through this special account:
·
Promotional schemes
This is all about money and the banking sector is one of the most important and major stakeholders in such
activities. It has become a two-way process between a bank and a client to get
benefits from each other. Suppose you are willing to take an initiative for new
savings account you’ll come across
plenty of banks inviting or please you through special offers.
The banking sector in UAE
especially private banks offers an impressive promotional interest rate for
fresh account holders to attract them as a new customer in the long run. Such kind
of offers is not provided on a permanent basis because you could only find in a certain time of period. May be such limited time period offers which are much
better than standard variable interest rates would actually work for the
interest of a bank. But this is not a debate to discuss, we are only concerned
about the benefits for customers or clients, so don’t ever skip such
opportunities.
Minimum deposit
There are some restrictions and
limits on special offers and one must have to work with the terms and
conditions to get benefits from such offers. Some financial institutions like
the banking sector in UEA require you to make a minimum deposit before they
open and activate your savings account. There are few obligations like setting
and managing a new account from the accountants and then maintain the offers
and perks related to such accounts. That’s why a minimum of fixed deposit is
required to manage the costs associated with these activities. But this is not
the case for all kinds of banks, because most of the professional and stable
banks haven’t any terms.
Monthly Deposit
First and for most thing to deal
with each and every banking task is management and consistency. Suppose you are
using saving accounts then try to maintain a monthly balance or deposit so that
to manage the offers of high-interest rates which are added to your savings on a monthly basis. Banks are always thirsty for money and they are in search to
generate investments as much as possible. For that they offered some unique and
catchy offers but at the end of the day, these are marketing tools that work in
favor of banks. But you don’t worry, it’s a two-way process and a good idea to
work out to save more and more in a disciplined way.
Conclusive remarks
To get some special banking
offers, one must have to open a bank account in UAE. So far Mashreq Bank in UAE is providing the best savings
account options for all kinds of customers.
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