Dubai Bank has announced the launch of its new balance transfer facility which allows customers to shift their credit card balance from another bank to Dubai Bank’s covered card, at a highly competitive profit rate.

Upon transferring their balance, customers can set-up an Easy Payment Plan with tenures of 6, 12, 18 or 24 months, said a senior official.

Hisham Hammoud, head of Retail Banking Group, said Dubai Bank continues to enhance its products and services to meet the evolving needs of its affluent clients.

"With low profit rates, our new balance transfer facility will appeal equally to both new and existing customers. Moreover, with its superior performance and rewards, customers will receive a range of additional benefits by choosing Dubai Bank’s covered card," Hammoud added.

Dubai Bank, he said, has also introduced a new cheque on phone service for vovered cardholders.

"By simply calling Dubai Bank, customers can order a cheque made out to up to 100 per cent of the cash limit on their covered card. The transaction is then converted into an Easy Payment Plan with tenures available of up to 6, 12, 18 and 24 months at highly competitive profit rates," Hammoud explained.

The Shari’a compliant covered card allows customers control over their finances while earning rewards on their everyday spending, such as discounts of up to 50 per cent for shopping, dining, entertainment and more.

Furthermore, the card provides purchase protection, complementary life Takaful and travel assistance, he added.-TradeArabia News Service