Gulf Finance broadens its product range with the launch of business deposits.
- Gulf Finance launches new business deposit account paying a minimum 3.25% per annum
- SMEs lose millions a year in lost interest through low paying deposit accounts
Gulf Finance Corporation, a wholly-owned subsidiary of SHUAA Capital and a leading provider of finance to SME and micro businesses, has today launched its new market leading Business Deposit solution, targeting any UAE-registered company wanting improved returns on their short to medium term funds.
“SMEs have a wide range of financial needs on both sides of the balance sheet. There is clearly a need to maximize returns on their surplus liquidity through higher small and medium term deposit rates over and above what banks can offer,” explained David Hunt, CEO of Gulf Finance. “Because of this, we are confident that our rate of interest will strike the perfect cord for such small companies that have surplus cash to deploy and want to maximize their returns.”
The Company is offering business deposit rates of 3.25% per annum on three-month deposits valued from AED 1 to AED 5 million and up to 4.625% on deposits over AED 5 million for two or more years.*
Gulf Finance recently relocated to larger premises in Sharjah to accommodate its expanding sales force for small business loans, vehicle finance and working capital facilities. In parallel, the Company has continued to broaden its products and services and the Business Deposit solution is the third product to be launched in 2015. In May, Gulf Finance launched a suite of trade finance solutions to help support the business requirements of clients engaged in imports and exports. In February it addressed the critical issue of financing to SMEs in the healthcare segment by providing products and solutions aimed at financing medical equipment.
The Company also completed a successful rebranding in June, positioning itself as a leading provider of SME growth finance under the tagline ”Small Business is our Business”. The new name and logo better reflects the community for which it serves – innovation, dynamism and entrepreneurialism.
*All rates quoted are subject to change and the standard terms and conditions will apply.