CBD launches savings scheme for children

DUBAI - Commercial Bank of Dubai, established more than 30 years ago, has launched savings schemes for children and the modern woman with many benefits.

By Moushumi Das

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Published: Thu 12 Feb 2004, 12:28 PM

Last updated: Thu 2 Apr 2015, 11:51 AM

The saving plan named "Mustaqbali," is the only child savings plan in the UAE which provides 100 per cent capital guarantee throughout the term of the plan. The Mustaqbali plan offers many benefits, such as the choice of target savings, choice of regular monthly contribution and optional life cover for the contributer during the plan term at a minimum premium.

The bank has also designed an exclusive banking services programme for the woman of today so that they can maintain their lifestyle and compliment their financial requirements. This service is called "Shahrazade" and it provides a comprehensive range of services which includes safe deposit lockers, 50 per cent discount of the annual card fee as well as special discount at major department stores and tourist establishments. Along with this, it allows to use any of the ATM machines and make purchases through point of sale machines.

The bank also provides facilities for the professionals, named the Najah scheme. It caters the needs of doctors, architects, engineers, chartered accountants and lawyers. The scheme offer s a wide range of benefits as well as range of accounts that ease up deposits and financial operations.

The Commercial Bank of Dubai (CBD), one of the leading banks in the UAE with a network of 20 branches spread across the emirate is offering various products and services to meet all kinds of financial needs and has also won the JP Morgan Chase Bank's Quality Recognition Award thrice for its excellent service and maintaining high standard in international operations.

Apart from all these, there are other products like Tasaheel which gives the facility of personal overdraft and allows to overdraw account up to a pre-approved limit at any time and also a car finance scheme, Tam Wheel car loan which is easily available for account holders. Moreover, the bank also gives the facility to its customers to pay Electricity and Water Bills of DEWA from time to time.

Last but not the least, the bank assures its customers complete liquidity and security. The Flexi-Deposit account allows its customers to enjoy earning sound income on their fixed deposit account and at the same time provides access to funds instantly as and when a need arises by allowing overdraft with minimum paper work and formality.

Last year, the bank participated in the UAE Trade Exhibition in Iran 2003 and conducted a seminar on the 'Roles and benefits' of strategic planning" to build a strong relationship with its customers. The Commercial Bank of Dubai has also been awarded the ISO 9001 certificate from SGS Switzerland.

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