Greater flexibility with NBK’s ‘Notice Account’ savings deposit option
KUWAIT: Diversifying savings can help protect against risks and economic downturns. Not all savings options are equal as some, limit access to the amount saved for months or even years. To provide greater flexibility and accessibility, National Bank of Kuwait now offers ‘Notice Accounts’ for its Premium Banking customers that allow access to savings via withdrawal notices.
NBK Notice Accounts are ideal for customers with saving goals whilst still needing flexibility to withdraw funds if required. With an NBK Notice Account, customers earn interest on their savings every 30 days, 60 days or 90 days depending on the selected Notice Account type. There are 3 types on Notice Accounts: 35 days, 65 days or 95 days’ Notice Account. In addition, customers are still having the flexibility to have these funds available in case of an emergency or unexpected expenses such as maintenance on your car or house.
“Today’s customers need greater flexibility to deposit and withdraw from their accounts as part of their regular banking options,” said Amal Al-Duwaisan, Senior Manager Consumer Banking Group, National Bank of Kuwait. Al-Duwaisan has added that “NBK’s Notice Account allows customers to save while earning interest and also have the flexibility of withdrawal without being penalized.” Customers earn a higher interest rate unlike standard savings accounts while at the same time continuing to have flexible access to their capital. The NBK Notice Account is tailored to the needs of Premium Banking customers, providing them with a flexible savings account for ease of deposit at any time, withdrawal with advance notice as well as obtaining high interest savings benefits..
“We’ve combined some of the best features of a fixed term deposit, i.e. higher interest rates, with the accessibility of a standard savings account to create Notice Accounts,” said Al Duwaisan. “Customers can earn a higher interest rate but decide which notice period - 35 days, 65 days or 95 days - works best for their budget and planning.”
How does it work? Simply visit any of our local NBK branches to open a Notice Account with a minimum balance of KD 5,000. There are three notice periods to choose from: 35 and 65 days earn at 1.500 percent interest rate and 95 days at 1.625 percent interest rate. To withdraw, ask the officer to establish the withdrawal notice, not less than 35 days before making the withdrawal and/ or closing the account. Savings can also be added to the account at any time by visiting any of the NBK branches or through NBK Online Banking; also customers can establish Standing Orders to their Notice Account. This product is free of charges. Terms and conditions apply. To learn more, our valued customers can visit any local NBK branch, speak to their Relationship Manager or can call the NBK call center on 1801801. They can also invite to visit the award-winning website, nbk.com to get more details regarding this savings product.