Business

Emirates NBD, a leading banking group in the region, today announced the launch of FlexiCash, offering customers with an overdraft account credit center to fulfill short term requires or unexpected requirement of funds in an emergency situation, and repayable in a flexible manner.

Qualified customers will be able to make use up to two months' wage as an overdraft connected to their current account and gain access to the funds night and day through their ATM/ Debit card, chequing or via fund transfers from their operating account. Additionally, the center likewise works as a cheque bounce protection in the unfortunate occasion of funds not sufficing to cover a tool, providing a safety net and peace of mind.

Part or full withdrawals of the authorized overdraft account limit is allowed and customers could decide to repay the credit with month-to-month settlements ranging from as low as 20% each month fully quantity, plus rate of interest on the made use of section. FlexiCash can also be gettinged by any kind of consumer against their Fixed Down payments with the bank at really eye-catching rate of interest beginning 4% p.a. Customers could monitor their use and usage via monthly e-statements and SMS notifications, and the over-limit facility is renewed automatically every year.

"FlexiCash is a versatile and hassle-free option for all our customers who require access to smaller quantities of funds for a short time to aid sudden needs that may come up, without needing to make use a huge long-term finance or make use of a lot more expensive credit. It is the right option in order to help with that additional money you could call for to spend for additional school charges in a month, for abrupt treatment or to care for that unplanned cheque that has actually come up for settlement," said Suvo Sarkar, Senior EVP & Group Head Retail Banking & Wealth Management at Emirates NBD.

FlexiCash could additionally be gettinged by protecting it versus NRE Dealt with Bank account with partner financial institutions in India (HDFC Bank, ICICI Bank, Axis Bank and Yes Bank) providing customers the added benefit of getting credit centers in the UAE while continuouslying appreciate guaranteed returns on their existing down payments in their house country.

To join or for more information, customers could call 600 54 000 or check out www.emiratesnbd.com.

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