United Bank has expanded its savings and investment portfolio with a new range of products, including Sharia-compliant Sukuk, offering customers different return structures and payment frequencies. The bank said the new offerings are designed to address the financial requirements of different customer segments while providing greater flexibility and competitive returns.
The new portfolio includes a three-year certificate offering a fixed upfront return of 40%, with the return paid in full at the beginning of the certificate term. United Bank is also offering three-year certificates with variable returns, currently reaching 19.50%, with customers able to choose daily or monthly return payments according to their preferences.
The bank has also introduced the Tamayouz Certificate, a three-year product offering returns of up to 17.25% when paid daily and 18% when paid monthly. Its Sharia-compliant Namaa Sukuk, also structured for a three-year term, provides returns of up to 17.50% on a daily payment basis and 17.75% when paid monthly.
Customers can borrow against these savings instruments and may redeem them after six months, subject to the relevant terms and conditions. The bank has also expanded its deposit options with products offering upfront returns for terms ranging from 12 to 18 months, with returns of up to 18.5% over the full deposit period.
United Bank is further offering term deposits with returns paid at maturity for periods of 12 to 18 months, with returns reaching up to 21.5%. Monthly-return deposits are also available, providing returns of up to 17% for customers seeking regular income from their savings.
The bank’s portfolio also includes daily-return accounts in both conventional and Islamic formats, offering returns of up to 17% depending on the deposit amount and applicable balance tiers. In addition, its savings account provides returns of up to 18%, with customers able to select monthly, quarterly, semi-annual or annual payment frequencies.
For customers looking for foreign-currency investment options, United Bank has introduced three-year dollar certificates offering flexible return payment frequencies and returns of up to 4.80%. The bank said the expanded portfolio reflects its focus on providing customers with diversified savings and investment solutions that offer flexibility and align with their individual financial objectives.
Tarek Fayed said United Bank remains committed to continuously developing its banking products in line with market developments and customers’ evolving needs. He noted that the bank aims to provide solutions combining competitive returns, flexibility and a wider range of choices for customers.