United Bank has launched a new range of savings and investment products, as well as Sharia-compliant sukuk, offering customers a variety of returns and payment frequencies. The bank has been working to develop its products and provide competitive banking solutions that meet the needs of different customer segments, giving customers a range of options aligned with their financial objectives and requirements.
The new products include a three-year certificate with an upfront return, which offers a fixed return of 40%, paid in full upfront over the certificate’s three-year term. This allows customers to benefit from the return in advance according to their financial needs. The bank also offers three-year certificates with variable returns, with the current return reaching 19.50%, alongside flexible payment frequencies, including daily and monthly payments, allowing customers to benefit from competitive returns while choosing the frequency that best suits them.
The new package also includes the Tamayouz Certificate, with a three-year term and returns of up to 17.25% paid daily and 18% paid monthly. The bank also offers the Namaa Sukuk, a three-year Sharia-compliant instrument, with returns of up to 17.50% paid daily and 17.75% paid monthly.
These savings instruments allow customers to borrow against them and redeem them after six months, subject to the applicable terms and conditions.
The bank also offers a variety of deposits to meet customers’ different needs. These include deposits with upfront returns for terms ranging from 12 to 18 months, offering an upfront return of up to 18.5% over the total deposit term. Additionally, the package includes term deposits with returns paid at maturity, with terms ranging from 12 to 18 months and returns of up to 21.5% over the total deposit period.
United Bank has also introduced monthly-return deposits, offering competitive returns of up to 17%, providing customers with a savings option featuring periodic returns suited to their financial needs.
Furthermore, the bank offers daily-return accounts in both conventional and Islamic formats, with returns of up to 17%. Returns are determined based on the deposit amount and applicable balance tiers, providing customers with greater flexibility in managing their savings while earning daily returns.
United Bank also offers a savings account with returns of up to 18%, depending on the balance tier, with flexible payment frequencies including monthly, quarterly, semi-annual, and annual payments. This allows customers to select the payment frequency that best suits their financial needs. The range of products also extends to foreign-currency savings solutions, including three-year dollar certificates offering flexible return payment frequencies and competitive returns of up to 4.80%.
“We remain committed to continuously developing our banking products in line with market developments and our customers’ changing needs and aspirations. We do so by offering solutions that combine competitive returns, diverse options, and flexibility, providing customers with added value and broader choices aligned with their financial objectives,” said Tarek Fayed.
