Mashreq Qatar has launched a new savings account service, Step Up Savings Account, on its MashreqOnline banking platform.

Step Up Savings Account will be a capital guaranteed savings solution that can be opened instantly by visiting the bank’s website without the need to fill any form or visit any branch.

The new account service will offer increased rate of interest, ranging between 0.5% and 1.5% per annum, with increasing amount of fund deposits.

Mashreq Qatar head of retail banking Niranjan Mendonca said: "Online banking is becoming more and more significant and we have noticed how customers are becoming more accustomed to it.

"Our customers can now open the Step Up Savings Account instantly without any charges through MashreqOnline.

"We constantly endeavor to come up with the smart solutions that work best for our customers’ everyday requirements, therefore we have put transactional flexibility and savings benefits within one single account making saving an easy activity."

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By GlobalData