Mashreq offers insurance with gold investment
Dubai, October 19, 2011
Mashreq, a leading UAE financial institution, has announced the launch of a unique gold investment product that comes packaged with a free life insurance policy.
The first-of-its-kind bundled product allows customers to invest in gold bullion through a fund thereby giving them the opportunity to access one of the preferred asset investments categories during these uncertain times, a statement from the institution said.
Under this product, Mashreq offers customers the opportunity to invest either in a lump sum of Dh26,000 ($7,100) or monthly investments starting from Dh1,200 ($327).
The free life insurance bundled with this product amounts 10 times if the investment is made in a lump sum and 100 times if made on a monthly basis. The maximum limit of the life insurance is capped at Dh1 million ($272,000).
Nimish Dwivedi, head of personal banking, Mashreq, said: “Gold has emerged as an important asset class during these turbulent times. With this offering, customers not only get the benefit of investing in gold but also get the dual advantage of a free life insurance cover with their investment. This is a unique and relevant offering that will appeal to all investors looking at including gold as an asset class in their investment portfolio.”
The product has no lock in period allowing customers the flexibility to invest in the scheme as long as they prefer and redeem the value of their savings at anytime, the statement said. – TradeArabia News Service
More Finance & Capital Market Stories
- Kuwait credit hits 5-year high; tops $1.3bn
- UAE stocks rally, Abu Dhabi tops 4,000 mark
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school
- Dubai non-oil trade surges 10pc to $272bn
- Iran president targets stagflation in first budget