Is there any survival in Dubai without doing proper savings plans?

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Is there any survival in Dubai without doing proper savings plans?

Well, Dubai is a hub for lush green life. You must be very careful about utilizing your resources. For outsiders and visitors it is ok to get into the life of Dubai for some time and after that go back to their work and hometown. But it is a major problem for expatriates living in Dubai and working for their families to move with this lifestyle. So I suggest you avoid such type of hangouts. Be prepare yourself for future days and must do some savings plans. For this purpose top banks of Dubai and many multinational corporations helps you to deal with it. You can easily manage such type of activities as there are a number of business opportunities to invest for. You can make little investments at your end in any sector of Dubai to increase your savings. But my friend there is no other way of long-term survival in Dubai without this. For a short spam you can enjoy the activities but believe me how much you have it doesn’t matter it will be finished.

Which type of savings plans are better? –

There are different types of savings plans options available in UAE. You can invest your savings in any sector. But first I suggest you get some help from a financial advisor as he/she can guide you more precisely. I know it will cost you but it is not much worthy than the expert’s advice provided by the financial professionals. Well in simple there are three major types of savings plans –

  1. Bond Deposit Plan
  2. Regular Deposit Plan
  3. Money Market-saving Plan

The very first option is quite strict but is useful for low budget people.in this system, you are bound to your savings in a fixed time period and cannot take out your investments. Suppose you have deposit AED 10000 for a period of 5 years. Now for each year, you will be provided by 2% interest amount on your actual amount. After 5 years you will get an extra bonus along with your actual amount. This is the most suitable plan as with interest amount you can easily make your monthly expenditures and your actual amount still safe for a fixed time period.

Now moving towards the second type of plan it is most lenient and flexible plan. You can deposit your ease. Also, you have an option to withdraw your savings at any time. But some amount will be deducted when you open your account before the fixed time period.

The third option is for high net worth individuals and big traders. In this type of savings plan, you can invest a large amount of investment. Most of the multinational corporations are interested in taking such type of savings plans for their future projects investments.

To what extent top banks of Dubai helps you? –

It is a fact that bank in Dubai either private ownership or a public sector bank, all are well equipped and stable economically. Services being provided by these banks are of international standards. Most of the banks are running in collaboration with international corporations. Now the question is to what extent top banks of Dubai are helping for savings plans schemes? Well after a complete research I conclude that category of wealth management bank in Dubai is very much interested in providing such type of offers. Not only at induvial level but also to a group of organizations. So, in my opinion, it is a most appropriate path to get services of top banks working in UAE.

As there are a number of renowned and most famous banks, now again it is difficult to decide which one is most suitable for savings plans offers. You can do this by yourself also by visiting the official website of different banks. There they have been provided with a financial calculator to calculate your actual deal. But it is not that easy as I say. It will take time and compare the rates and packages is a tough job. Ok, be happy I have already done that job. My findings show that Mashreq bank of Dubai is most appropriate for taking savings plans services.