Dubai: National Bank of Dubai (NBD) yesterday launched NBD Twin Invest, a new investment product, offering customers the combined benefits of a high-return fixed deposit and long term investments, a statement said.

Customers will now be able to enjoy the twin advantages of a return of eight per cent per annum on a one-year fixed deposit and the growth potential of long term mutual funds from leading international fund houses.

NBD Twin Invest is the latest addition to the current suite of deposit and retail wealth management solutions offered by NBD which includes a wide range of top performing international mutual funds, regional funds, capital guaranteed structured notes, unit linked savings and protection plans.

The products are customised to meet financial planning goals of customers ranging from children's education, retirement to general savings.

With NBD Twin Invest, customers will now be able to obtain the best of both worlds. One half of the investment is placed in a one-year deposit with the bank, earning a return of eight per cent for the first year.

The other half is invested in the Universal Investment Plan from Old Mutual (Bermuda) Limited, offering attractive features such as access to a wide range of international mutual funds, a capital guarantee option, low management fees and estate guarantees. Minimum subscription amount is $100,000.

"NBD Twin Invest is the ideal solution for customers who wish to keep part of their investments in risk-free bank deposits and obtain the best rates possible for them, while also benefiting from the growth potential of long term mutual funds from some of the best international providers," said Suvo Sarkar, NBD's Group Head for Retail Banking.

Best of both worlds for investors

  • Customers will now be able to enjoy the twin advantages of a return of eight per cent per annum on a one-year fixed deposit and the growth potential of long term mutual funds from leading international fund houses.
  • NBD's products are customised to meet the financial planning goals of customers which may range from children's education, retirement to general savings.
  • Minimum subscription amount is $100,000.