Skip to main content

Get insured your banking Services

You should consider your insurance policies in UAE regarding your mortgage loan or any other property. This insurance plan can be applied on many other services as well. Usually, there are two types of insurances available for borrowers in UAE:

Lifespan insurance which is bit expensive but quite perfect for expatriates. This is particularly intended for the borrower’s family so that to cover the unexpected happenings. It covers all the loan expenses in case the mortgage holder dies during the mortgage lifespan or in case of any other serious damage. Thus, the family does not have to evacuate the house, and the entire mortgage will be paid through the insurance coverage without any trouble. Before moving towards this option, you should understand the working pattern of banks because it is different from one another. As you can see that most of the banks in UAE are divided into Islamic banks and conventional banks, so your choice will be mattered a lot.

While moving towards your Insurance plans and installments, this is borrower oriented and it helps the borrower to pay the installments due to injury, job loss, or accident. Besides all other attractive services being provided by banks in UAE, mortgages loans, credit card options and different accounts can help you to understand the matter. Keep one thing in your mind that this system is very sensitive and you need to cater all of the things with issue based. At the same time it requires careful consideration and comprehensive planning. To avoid any uncertainty while paying back the recoveries, it is recommended to take insurance policy from a bank.

At the same time, it is advised to check and compare the fee structure of different services such as consultation fee, notary, and documentation translation fee while purchasing any insurance. At any point in time, you encounter any problem or confusion by directly making a contact with your relationship manager. You should consult an expert for guidance because he or she would be the only person who can take care of your plans.

This will further help you to modify your choices and customize your mortgage option as well. Now I will explain some of the important services being provided by Islamic banks in UAE. As you can see that having a savings account account can give you maximum rewards, while on the same note Islamic current account will also give you maximum benefits. For example you can use the Islamic current account and use the latest options in the form of loan services, credit card options and many other things. But keep one thing in your mind that only a specific bank can give you lowest rates.

Conclusion

Now which bank is most suitable for expatriates in UAE is the most important query which must be resolved. For your ease I would suggest you to check Mashreq bank for Islamic banking as well as for conventional banking. You can use your smartphone to check the latest updates and offers.

Labels:

Comments

Post a Comment

Popular posts from this blog

Credit Card VS Home Finance: Is there any Relationship Between These Two Terms?

These two are different banking terms and nothing much to do with each other. If I say there is a strong connection and both can help an account holder what you will say? I will prove it through different examples. Before that, you will have to understand the credit card types and their availability. We have known to different cards like an entertainment credit card, golf credit card, travel credit card and cashback credit card but what is their source, do you have any idea? Two options in UAE are available as: • Credit card through Islamic banks  • Credit card through conventional banks When we discussed the two banking units, they vary considering interest rate point as we can see Islamic banking works without taking interest rate and provide Islamic bank credit card on actual balance payments. While on the other hand, conventional baking provides some excellent perks and benefits but with an interest rate.  Some of the unique offers like we can say that p...
Post a Comment
Read more

3 ways to improve your savings account

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 ...
Post a Comment
Read more

Execution of a Saving Plan

To execute a savings plan regarding a domestic purpose or a commercial purpose, we need to take the services of a bank to open a savings account UAE . Such accounts are available at different banks including investment banks and any other. Some of the wealth management firms and investment banks for future investments are trying to cover the needs and demands of a client on a priority basis that can provide some profit.  First of all, we will discuss the domestic plan through a simple current account. Suppose you are living in a state that is to your homeland like we can take the example of Dubai. Now you have two options, either to get settled by taking the services of a mortgage in Dubai or by paying the rent till your contract ends. If you choose the first one it means you are making a saving plan that is in the best interest of your coming generation. These are two options, now which one is suitable for you is the next question that is frequently asked most of ...
Post a Comment
Read more