Bahrain based BankMuscat International (BMI) today announced the launch of a new investment plan that combines fixed deposits with high quality investment options. This product, a new initiative by the private banking unit within BMI, will help in growing customers’ saving by providing them with one of the best returns on Time Deposits (TD) with shorter tenors.
Announcing the new offering, Andrew Bainbridge, Chief Executive Officer of BMI said: “At a time when interest rates have bottomed out at 2– 3 %, I am delighted to announce this unique offering that will provide our customers with the opportunity to get a return of close to 9 % for a 1 month deposit. BMI is a strong player in the private banking market and we work hard on developing products and services that combine exciting rates with top class investment options which provides an excellent opportunity for high net worth individuals, trusts & estates, as well as Corporates.”
The product entails that the customer commits a minimum of $ 100,000 with BMI, 50 % of which goes to the deposits in one of the 1, 3 and 6 month’s tenors available. The other 50 % is invested into a high quality portfolio of best performing open ended Mutual Funds. BMI has short listed 166 top performing & high rating mutual funds from various world class Fund houses with the aim of offering greater choice to customers in terms of underlying fund & portfolio construction.
This product offering is valid until April 30th, 2008.
