Nemea Bank, one of the younger banks on the market, has introduced its first term deposit products – a collection of short- and long-term deposit products with attractive interest rates that present an interesting alternative to local savers. The offering will soon be expanded with new online consumer banking products and services.
Nemea Bank has also designed competitively priced treasury deposits
Nemea Bank is a modern European bank domiciled in Malta. With single passporting, it has the ability to offer its products and services in the 30 EU and EEA countries, meaning the bank has clients equally in the northern and central Europe as it has in the south. It does not operate any traditional branch offices but offers its consumer products predominantly online.
Nemea Bank represents a different lifestyle and attitude for the new generation of clients: it is highly professional but does not bear any burden of old-fashioned operating culture, systems or processes.
The bank’s youthful and dynamic staff speaks the same language, in particular with the younger generation clients, and brings a breath of fresh air into the banking landscape, which is to the clear advantage of the client.
People generally dislike visiting bank branches and Nemea Bank has adopted an approach that is different from the local custom in other senses: it does not offer cheques and does not generally accept them. It does not handle cash, but all funds are handled in the form of bank transfers.
The bank’s first foray into the local market involves simple, easily understandable fixed term deposit products. They will later be complemented with innovative alternatives that will clearly differ from the offering generally available in the market.
The first products are for one-, three-, and five-year terms enabling the depositors to choose between fairly short term and the opportunity to lock in savings for a better return in the longer term.
The rates offered are competitive and create an opportunity to have new alternatives for savings and to better diversify them.
Nemea Bank has also designed competitively priced treasury deposits and other treasury products and services for businesses and financial institutions like investment funds.
Nemea Bank has strong and long-standing relationships with numerous solid smaller and medium-sized businesses, where it has financed and raised funds to support their growth and development plans. This is complemented by a range of treasury cash management services.
While the bank has started to serve Maltese customers with the simple but attractive term deposit products, there are ambitious plans for its wider product offering.
Innovative and convenient solutions will be developed and introduced gradually and be presented to offer clear value-added everyday banking matters.
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