Burgan Bank's Flexi Deposit Account recognized as region's best savings account

The Bank contended with banking institutions across the region for this category.

"This award is a significant win for us. We introduced the Flexi deposit Account as a continuation of our tradition of product innovation for meeting the gaps in the marketplace by gauging and addressing customers' needs. The Flexi Deposit Account offers convenience, flexibility and added value and is a first-of-its-kind deposit account in Kuwait."

says Simon Clements, Burgan Bank's Senior General Manager - Retail Banking Group, collecting the Award on behalf of the Bank.

The Flexi Deposit Account integrates the features of a savings account and a fixed deposit account to offer liquidity with higher interest returns on surplus funds. Through the 'Flexi Deposit' Account, customers can access their funds without breaking the term of the deposit or losing interest. It is unique as it allows customer to add/withdraw up to 30% from the principal amount without affecting the interest rate (subject to the product terms & conditions). Market research that we conducted indicated that Customers valued the flexibility of accessing their funds without the same affecting the interest rate.

"We constantly work on improving and expanding our portfolio of products and services based on market research and customer feedback, in keeping with our customer-centric approach towards banking," adds Simon. "We are honored to have been acknowledged as the best bank in the region for this Award category as it recognizes sustained innovation and credibility in driving business performance and customer satisfaction."