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Monday, 27th October 2008 (2853 views)

The Royal Bank of Scotland (RBS) has launched a new initiative in the United Arab Emirates (UAE) in which gold coins are given to savers.

Its Royal Preferred Banking arm has unveiled a high-interest fixed deposit and investment account for UAE residents, where customers are rewarded with gold coins.

The more they save, the more gold they receive - a minimum investment of AED 400,000 (£70,492) means a 4g coin will be given, while a deposit of AED 600,000 will provide a 6g gold coin.

Senior vice president Shahid Khan Niazi said that savers want flexibility and a guaranteed return on any investment.

"At RBS Royal Preferred Banking we can offer all of this, as well as a gold coin; our way of welcoming them to the service," he added.

Meanwhile post offices in India have extended a scheme where gold coins are sold in outlets to the Punjab region following "overwhelming demand".

 

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