Burgan Bank Revamps the 'Ladder Deposit' Account

Press release

Published October 15th, 2017 - 05:55 GMT

Ladder Deposit

Burgan Bank renewed their ladder deposit product with an enhanced feature that now ensures an extended term of up to 2 years. Designed to cater to the Premier segment’s needs, the ladder deposit will now provide customers with a more attractive product that yields higher returns. The longer the customer holds on to his deposit, the higher the return is.

The revamped product will enable customers to gain higher interest rates every quarter that will be credited to their accounts allowing them access to their fund any time. In addition, the ladder deposit is designed to provide flexibility to the customer in accessing money on a quarterly basis without penalty. Customer has also the option of discontinuing the deposit after every quarter.

Mr. Raed Al Haqhaq, Deputy Chief Executive Officer – Kuwait of Burgan Bank said, “We are pleased to revive the ladder deposit as part of our commitment to innovation in our product offerings. Burgan Bank will continue to offer relevant products that cater to current demands and demonstrate its leadership in the banking community.”

The ladder deposit has various tenors ranging from 3 months up to two years, with a minimum principal of KD 25,000 and quarterly interest payable.

This feature is part of the bank’s wide range of privileges and benefits designated especially for its Premier customers, with the aim of enhancing their banking experience and supporting their needs on every level.

For more information about Premier Banking, customers are to visit their nearest Burgan Bank branch or contact the call centre on 1804080, or visit the bank’s website on www.burgan.com.

Background Information

Burgan Bank

Established in 1977, Burgan Bank is the youngest conventional Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base. Burgan Bank has majority owned subsidiaries in the MENAT region supported by one of the largest regional branch networks. which include Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq & Lebanon),Tunis International Bank – TIB (Tunisia), and fully owned Burgan Bank – Turkey, (collectively known as the “Burgan Bank Group”). Furthermore, Burgan Bank has a present in the UAE through its corporate office (“Burgan Financial Services Limited) which had helped the bank to participate in multiple financing opportunities in the UAE.