Leading bank redefines financial privilege and privacy for women

The highly innovative service, activated throughout the Emirates on Saturday 18 September, provides an unprecedented range of privileges and conveniences, just for women, in three tiers - Gold, Silver and Bronze.

Apart from waiving fees on current and savings accounts and providing a checking facility as well as free ATM services with higher withdrawal limits for all three tiers, average balance requirements are scrapped altogether for top-tier Gold customers.

meLADY provides its Gold customers with pre-approved overdrafts, higher personal loan amounts and special discounts on interest rates for personal loans and car loans. Even Bronze customers not only enjoy lowered interest rates, but gain the same waiver on average balance requirements as Gold customers have, when they take a personal or car loan.

Furthermore, all meLADY customers are entitled to 25 free teller transactions per month - approximating one every working day.

Enormously Successful
meLADY joins a list of nearly 20 niche-tailored products and segment offerings under the "me" brand and available to all customers of meBANK, the enormously successful retail banking choice that has attracted nearly 500 new accounts every single working day since its introduction more than three years ago.

Louis Scotto, General Manager Retail Banking, Emirates Bank, invited ladies at a launch function in Dubai to think of the last time they were truly appreciated as women.

"Then you'll realize what it could be like to have a bank that is dedicated to bringing you utmost convenience, in total privacy." He described meLADY as "a style of banking that celebrates your femininity," and "the first ever bank designed exclusively with women in mind."
Since the service is already up and running, women can start gaining the tantalizing benefits of meLADY immediately, simply by transferring their monthly salaries to Emirates Bank - a minimum of AED 8,000 for Gold and AED 3,000 for Silver.

Taking overdrafts for example, the meLADY customer has the freedom to withdraw up to 90 percent of her net salary or, if she is self-employed, the facility of a secured overdraft.

Special Treatment
The meLADY customer will know she is getting special treatment the moment she takes, for example, a car loan (up to AED 250,000). She immediately enjoys low interest rates, a "no down payment" option for buying a new or used car, a repayment period of up to 60 months and an option to defer an installment up to 60 days - and that is after meLADY has arranged the car to be delivered to her doorstep.

In the case of a personal loan - of up to 30 times her salary or a maximum of AED 250,000 - the meLADY customer will be able to repay it over a period of up to 84 months at low interest rates, as well as enjoying free life insurance up to the value of the loan. She can also defer up to three installments per year.

meLADY customers using meLADY credit cards will enjoy zero annual fees for the first year, interest free purchases, cash advances and balance transfers for the first three months, and the benefits of meMILES, the loyalty programme that allows Emirates Bank customers to earn meMILES through credit card usage and transfer them to existing frequent flyer programmes.

The "bank just for women" also provides customers with free supplementary cards for their families, discounts and privileges at more than 1,600 outlets in the U.A.E. and exclusive meLADY discounts at luxury stores at shopping malls.

A comprehensive array of exclusive services and privileges in the travel and insurance sectors include free gift vouchers, free travel ticket delivery and limousine transfers.

Customised Benefits
Also available to meLADY customers are customised benefits for savings accounts and fixed deposits, and a raft of appropriate insurance products to cater for retirement, education, personal accident and term life insurance.

Banking by phone and/or the Internet is part of the meLADY line-up, and so too is SMS-based banking that allows a meLADY customer to receive on her mobile phone, wherever and whenever she chooses, her account and credit card balances and alerts on movements in her accounts.

"Emirates Bank believes that women deserve privileges," said Mr Scotto, "and so we are delighted to open meLADY. It is just for women and it is their very special, very own bank."