Commercial Bank launches exclusive membership club for minors
04 October 2016
Doha, Qatar: Commercial Bank, Qatar’s first private bank, continues to lead the market with innovative products by introducing a first in Qatar concept that provides advantages to parents and their children.
“Young Elite Savers Club”, open to both Qatari and expat minors aged 17 and below, is another pioneering and innovative banking initiative from Commercial Bank that comes with a wide range of benefits, VIP experiences and privileges for members, while teaching them the value of saving. Additionally, parents benefit from the convenience of saving for their children’s future through the Bank’s award-winning Regular Saver Account named “Deposit Product of the Year” by the Asian Banker Magazine, and from a wide range of discounts and deals offered by participating partners.
“Young Elite Savers Club” members receive Commercial Bank’s competitive savings rates of up to 1.50% p.a. in their Regular Saver account and a personalised membership card giving them access to a world of tailored privileges. All club members who register before 31 October receive vouchers from selected partners and the first 900 club members receive a Megapolis game card with between QAR 100 to QAR 500 worth of game credits. Club members have first-offer priorities on summer camp classes and scheduled workshops, extra sessions on courses provided by participating partners, up to three months’ free membership from selected partners, free trial periods at participating sports academies and exclusive invites to Commercial Bank kids’ events.
To become a club member, parents must open a Minor account (serving as a spending account with a debit card), and a Regular Saver account (serving as the saving account) under the child’s name. Accounts must remain active and funded for minors to continue to receive benefits as members. Club partners’ terms and conditions apply, and club members must present their membership card to avail the benefits.
Joseph Abraham, Commercial Bank CEO said: “As a socially responsible bank that is committed to the Qatari community, Commercial Bank encourages everyone to save for a sustainable and prosperous future. In addition to the ‘Young Elite Savers Club’ that helps young people make a head start on their savings goals, Commercial Bank runs an awareness campaign to raise the importance of a smart savings culture in Qatar.”