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27/11/2017 07:38 AST
RAKBank has announced the launch of its new savings deposit account called 'Recurring Deposits', that offers easy access to customers' funds, guaranteed principal, and the ability to earn up to 2.5 per cent interest on their savings.
Ideal for customers
With a minimum tenor of 12 months and a maximum of 5 years, the Recurring Deposits account is particularly ideal for customers that are planning to practice financial discipline, receive guaranteed returns, and gain high interest rate on their savings.
Peter England, RAKBank CEO, said, "The Bank's Recurring Deposit is a simple way for all our individual customers to implement savings as a financial obligation and turn it into a positive habit.
"People are burdened with expenses on a daily basis, where the option of savings is constantly set aside due to other obligations."
"Our Recurring Deposit helps our customers take small steps towards achieving their financial goals and save money for their future and for when they would like to purchase any big-ticket item."
WAM
22/04/2025
RAKBank's total assets increased by Dh12.2 billion, reflecting a growth of 15.5 per cent compared to the first quarter of 2024.
The National Bank of Ras Al Khaimah (RAKBank) on Monday annou
Khaleej Times
06/03/2018
Similarly, last year the Bank signed an agreement with Sharjah Electricity & Water Authority (SEWA) to facilitate the bill payment via its Digital Banking Platform for customers in Sharjah. The SEWA
CPI Financial
23/11/2017
RAKBank has partnered with Ripple to leverage on its global blockchain network (RippleNet) to offer instant and secure money transfer services to Axis Bank account holders based in India. These live
Gulfnews
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 401.00 | -0.10 (-0.03 |
| FAB | 15.68 | 0.20 (1.29 |
| EMIRATESNBD | 21.25 | -0.25 (-1.17 |
| ADCB | 11.90 | -0.02 (-0.17 |
| ADIB | 19.38 | -0.62 (-3.10 |
14/05/2025
National Bank of Bahrain (NBB) has reported a 2% year-on-year increase in net profit attributable to shareholders reaching BD28.1 million ($74.5 million) for the first quarter ended 31 March 2025, co
Trade Arabia
14/05/2025
Air Arabia, the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa, has reported a strong first quarter of 2025 financial and operational results, as the airline co
Trade Arabia
14/05/2025
Al-Ahli Bank of Kuwait (ABK) recently hosted its Q1 2025 analyst conference attended by Abdulla Al-Sumait, Acting Group Chief Executive Officer; Shiamak Soonawalla, Group Chief Finance Officer; Abdul
Kuwait Times
14/05/2025
Oman Flour Mills (OFM), one of the leading national companies in the food manufacturing sector, has announced a strategic partnership with Elevatus, the award-winning provider of AI-powered recruitme
Times of Oman
14/05/2025
Saudi Aramco will sign on Tuesday memoranda of understanding with US liquefied natural gas producer NextDecade and utility firm Sempra , Aramco's chief executive said, as the oil giant expands in the
Arab News
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