Amãna Bank Savings Plan, a guide to disciplined savings

Tuesday, 26 August 2014 01:24 - - {{hitsCtrl.values.hits}}

Amãna Bank recently launched its flagship savings product ‘Savings Plan,’ a unique savings scheme which allows customers to reach a target savings amount by a desired time period, helping them to develop the discipline of savings for the future. The Savings Plan is coupled with a Life Takaful insurance cover to match their target savings while also offering a higher profit share to the customer.

Commenting on this the bank’s Chief Executive Officer Mohamed Azmeer said: “We are happy to introduce Savings Plan, a savings tool ideal for occasions such as saving for a child’s higher education, wedding or any other future financial commitment. The added Life Takaful cover will ensure the goal of saving is achieved, where in case of a claim, the customer’s nominee will receive the life Takaful cover amount plus the accumulated balance in their savings plan account.” Also sharing his views on the new account the bank’s Vice President Consumer Banking and Marketing Siddeeque Akbar said: “The Savings Plan provides greater flexibility as the customer can choose their target savings amount and the period in which they need to achieve their savings from a multiple of options which will suit their savings need. Your monthly savings commitment can be as minimal as Rs. 1,667. This is the ideal tool for one to plan and nurture one’s dreams.” The Savings Plan is available for individual applicants who are aged between 18 and 55 years while the minimum savings amount will be Rs. 100,000 and maximum amount will be Rs. 5,000,000. Savings tenures range from one year to five years. For further information on the Savings Plan, customers are invited to visit any of the bank’s 24 branches located islandwide or call their contact centre on 0117756756.