Commercial Bank has introduced a “first in Qatar” concept that provides advantages to parents and their children.
The Young Elite Savers Club, open to both Qatari and expatriates minors aged 17 years and below, comes with a wide range of benefits, VIP experiences and privileges for members, while teaching them the value of saving, according to a press statement from Commercial Bank.
Additionally, parents benefit from the convenience of saving for their children’s future through the bank’s Regular Saver Account, named “Deposit Product of the Year” by 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% pa 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 October 31 receive vouchers from selected partners and the first 900 club members receive a Megapolis game card with between QR100 and QR500 worth of game credits,” the statement noted.
Besides, 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. The 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 themselves of 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.”