First Gulf Bank (FGB), UAE lender, is offering new reduced- rate credit card options for Emiratis with decreased interest fees and monthly charges.
The new service is applicable for all Emiratis applying to any of FGB’s credit cards. It features an interest rate of 1% for customers who transfer their salaries to FGB and 1.5% for customers that transfer wages to other banks, while also offering 50% discounts on all fees and charges pertaining to card usage. In addition to receiving a card free of charge and being fully except from any renewal fees, the service enrolls its users in an annual savings scheme allowing them to collect up to Dhs10 thousand.
Commenting on the new service, Abdulwahed Juma, Head of Corporate Affairs at FGB said: “First Gulf Bank continuously works on providing high-quality products to reflect current market trends and needs of our customers. Our new credit card service for Emiratis offers our national customers optimum value and a number of privileges.” “In line with recent credit issues that have become prevalent, FGB has developed this new scheme offering reduced interest rates for users, which also work on promoting savings for our customers,” Juma added.FGB also offers Emirati Al Awwal programme to promote sound saving habits amongst the local community. The draw is a means of incentivizing the saving process, and is meant to encourage UAE Nationals to save. The program has generated a lot of interest amongst the public and so far, over Dhs54.99m has been given away to Emirati Customers as part of the program.
Emirati Al Awwal Certificates valued at Dhs1,000 each, are automatically entered into the monthly draw 30 days after the certificates’ issuance date and into the quarterly draw after 90 days of issuance. The certificates are fully refundable, and can be purchased at any of the bank’s branches in addition to “Larry”, “Al Fardan”, and “Al Ansari Exchange” across the UAE.