aiBANK Launches a Daily Saving Account with Interest Rates of up to 20%
تاريخ النشر: 5th, June 2024 GMT
aiBANK، a leading provider of integrated retail and corporate solutions in Egypt، announced today the launch of its ‘Super Daily Plus’ Saving Account. This unique account provides customers with an integrated saving account with various benefits and special perks، including insurance provided in partnership with Kaf Insurance، an EFG Finance company.
Customers who opt for the new saving account can earn a daily interest rate of up to 20%. Benefits also include a 50% discount on personal loan administrative fees، the option to receive a free credit card for the first year، issuance of checkbooks، and quarterly prizes for customers.
Kaf Insurance partnered with aiBANK to include free life insurance coverage in the account on an average balance of up to EGP 1 million، based on the individual’s average account balance over six months. This partnership with Kaf coverage comes shortly after aiBANK partnered with Valu، MENA’s leading universal financial technology powerhouse، to release their co-branded credit card and is in line with aiBANK’s strategy to leverage synergies within the EFG Holding brands universe.
Sherif Nada، Chief of Retail، Branches Network at aiBANK، commented، “The introduction of our latest daily saving account marks a significant milestone in aiBANK's approach towards enriching the Egyptian banking landscape. Complementing our expansive strategy، this account represents our dedication to providing holistic banking solutions and pioneering innovative products. It is a testament to our pursuit of financial inclusion، enabling every segment of society to access tailored financial offerings that cater to their varied requirements. Through this initiative، we aim to foster safe investment avenues، empower individuals with flexible saving management، and ensure optimal returns on investments، with potential yields up to an impressive 20%.”
Mohamed Abdel Monsef، Head of Retail Products Development at aiBANK، expressed excitement for the new ‘Super Daily Plus’ Saving Account، stating، “We are proud to introduce this new account as part of our ongoing commitment to innovation and consumer-centric banking. At aiBANK، we prioritize staying ahead of market trends and understanding the evolving needs of our customer base. Our aim is to redefine the banking experience with a blend of competitive interest rates، comprehensive benefits، and financial flexibility.”
Moheb Selwanes، Chief Distribution Officer at Kaf Insurance، commented: “We are thrilled to introduce the collaboration between Kaf and aiBANK، offering a unique proposition for saving account owners. "This innovative concept combines life insurance with saving account in a way that is unprecedented in the market. The insurance amounts are dynamically linked to customers' deposits، allowing their insurance coverage to grow as they save more with aiBANK." Selwanes added، “The synergies between EFG Holding’s group of companies have enabled us to introduce disruptive concepts to the market، setting us apart in the financial services industry.” This saving account offering bridges the gap for insurance coverage، aligning with the nationwide initiatives set forth by the CBE and the FRA. We are excited to offer a solution that strikes a perfect balance between financial security and saving growth، benefiting our customers in a truly unique way."
As part of aiBANK’s plan to provide diverse banking services meeting the needs of individuals and corporate clients، the bank introduced the “Salem w Estelem” time deposit offering in late 2023، offering a return of up to 21%، paid in advance with a minimum deposit of EGP 500،000، without a maximum limit. This allows customers to benefit from interest upfront and mitigate the negative impacts of rate changes amid the current local and global economic challenges. The deposit offers terms of up to six months with the option for redemption at any time، as per the terms and conditions.
aiBANK is committed to serving its customers through an extensive network of 34 [HN1] branches nationwide، including three Islamic branches offering Sharia-compliant products and services. In line with the financial inclusion strategy، the bank recently opened a branch in Mansoura that is equipped to serve customers with special needs. Furthermore، aiBANK plans to expand its ATM network by 30% by the end of 2023، covering the most vital areas to facilitate customer access to banking services anytime and anywhere.
المصدر: بوابة الفجر
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The initiative focuses on educating clients about financial tools، such as cash flow management cards and insurance products that mitigate future risks، offering personalized consulting services، and promoting digital payment solutions. Participants will gain insights into cash flow management، budgeting، risk assessment، and the advantages of modern payment methods.
It will also provide practical tips for optimizing costs and maximizing project revenues، supporting clients in enhancing their businesses' profitability and sustainability. This positions Tanmeyah as a leader in financial empowerment، equipping individuals—particularly small business owners and entrepreneurs—with the knowledge and tools necessary to thrive and make informed decisions for their ventures.
Jinu Johnson، CEO and Managing Director of Tanmeyah، said، “We are thrilled to announce the launch of our mobile branch initiative، showcasing our unwavering commitment to reaching and empowering small business owners across the country، fostering financial resistance and security. We truly believe in the transformative power of young entrepreneurs who are set to fuel Egypt’s future forward. By equipping them with the financial knowledge and resources they need، we are not just helping them realize their dreams، we are building a foundation for vibrant، resilient communities. This initiative reflects our belief that when we invest in our youth، we invest in a brighter tomorrow for all.”
The mobile branch initiative is designed to enhance financial literacy، promote financial inclusion، and improve customer service management. By providing accessible financial education and support، the initiative aims to empower small business owners to make informed financial decisions، manage their finances effectively، and build sustainable businesses.
Launched in 2009، Tanmeyah has grown to become Egypt’s premier financial services provider for microfinance enterprises، providing a range of financing solutions tailored to meet client needs، build businesses، and drive socioeconomic change. With the widest branch network in the country، deep industry knowledge، and community ties، Tanmeyah has improved lives and built businesses of millions across the country. Tanmeyah has issued over three million financing facilities of various types and sizes. It currently serves more than 30،000 new clients monthly through its network of nearly 350 branches and more than 5،000 employees in 25 governorates.
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