Sarwa Launches High-Yield Cash Accounts In The Sarwa App
The account will offer nearly 4x the interest of regular UAE savings accounts, and deep integration with the Sarwa investing platform.
Sarwa, a popular UAE investing platform and app, has launched a new feature known as Sarwa Save. The latest offering is a high-yield cash saving account with several exciting features, the foremost of which is a very respectable 3% interest rate. The idea behind the account is that it will serve as a parking place for cash earned while investing and comes with zero transfer costs for AED local accounts, no account minimums, no management fees, plus fast online setup through the app.
“While we are strong believers in long-term passive investing, we are also conscious of how market conditions might affect short/medium-term goals. A short-term investing option is an important part of a good financial plan. Our clients were asking for a product to park their cash while earning returns, with the same easy access and simple experience as their Sarwa Invest, Sarwa Trade, and Sarwa Crypto accounts. As always, we listened to our community and decided to launch our fourth pillar,” says Mark Chahwan, Co-founder and CEO of Sarwa.
Sarwa’s 100,000 active users will now find it easier than ever to centralize the entire investment process in a single app, whether they’re taking a hands-off, long-term approach or prefer the convenience of self-directed trading using a single service. It’s also worth noting that Sarwa offers Save Halal, a low-risk money market funds portfolio, which also projects a return of 3%.
Overview of Sarwa Save features:
- 3% interest rate.
- Easy online setup and access to real human support.
- Zero withdrawal fees. No lock-in period.
- No account minimums.
- No management fees.
- No transfer costs for AED local accounts.
- Deep integration with Sarwa Invest accounts.
- Partition and label funds to enhance saving.
Sarwa Save looks like a promising financial product, especially as the average yield on a UAE savings account currently stands at around 0.8%.
Interested in setting up an account? Sarwa Save is available to new and existing users through the Sarwa website and mobile app.
Sarwa is a personal finance and investment platform on a mission to help everyone put their money to work. The app offers hands-off long-term investing, as well as self-directed trade of stocks, ETFs and cryptocurrencies. Sarwa makes investing easy, simple, and affordable by combining proven investment strategies with smart technology that drives down cost. The company was founded by a team of financial, technology, and management experts and is backed by top regional and international stakeholders.
Sarwa Digital Wealth (Capital) Limited is regulated by the Financial Services Regulatory Authority (“FSRA”) in the Abu Dhabi Global Markets (“ADGM”) to provide arranging, financial advisory and managing assets services. Sarwa Digital Wealth Limited is regulated by the Dubai Financial Services Authority (“DFSA”) in the Dubai International Financial Center (“DIFC”) to provide arranging and financial advisory services.
Sarwa Crypto, Sarwa Trade, and Sarwa Save are products offered through Sarwa Digital Wealth (Capital) Limited that is regulated by the FRSA. These offerings are not regulated by the DFSA.
This material is intended only for jurisdictions where Sarwa Digital Wealth (Capital) Limited is authorised to provide services and does not constitute an offer or solicitation to provide services in any jurisdiction where we are not permitted to do so. To learn more, visit www.sarwa.co.
*Disclaimer: This investment vehicle is considered extremely low-risk however, keep in mind that like all investments, there is always risk involved. Sarwa is not a bank. We can unlock high-yield accounts through our banking partners.
NEOM Airlines Is Saudi Arabia’s New, Tech-Centric Carrier
The airline will embrace advanced technologies such as artificial intelligence, and utilize high-tech propulsion systems by 2026.
Opening in 2025, NEOM is a $500 billion Saudi Arabian smart city that will be powered entirely by renewable energy. Now, Saudi authorities have announced that the futuristic metropolis will also be served by its own dedicated carrier — NEOM Airlines.
The service will begin operating in 2024 and embrace advanced technologies, including artificial intelligence and biometric check in. Aircraft will fly to and from NEOM Bay before moving to the soon-to-be-built NEOM International Airport.
Also Read: ChatGPT Is Accelerating The AI Revolution In The Middle East
NEOM Airlines will focus on tourist, commercial, and residential travel and incorporate plenty of cutting-edge technology. Klaus Goersch, the airline’s CEO, revealed that existing aircraft will be retrofitted with existing technology on launch, but by 2026, an ultra-modern fleet will be in operation, “whether electric, hydrogen-powered, or supersonic”.
As well as modern, low-emissions power airplanes, NEOM aircraft will also be fitted with sleek, modern interiors, 6G Wi-Fi, large screens for every seat, plus gaming and chat technology.