Al Salam Bank Unveils New Digital Finance Service
Al Salam Bank's ONE App launches new personal finance service.
Summary
Al Salam Bank's ONE App introduces a new digital personal finance service offering up to BD 40,000 with seamless digital application and approval.
In a significant move towards enhancing digital financial services in Bahrain, Al Salam Bank has launched a new personal finance service through its ONE App. This innovative service allows Bahraini employees to apply for personal finance of up to BD 40,000 with a repayment tenor of up to seven years. With an attractive Annual Percentage Rate (APR) starting from 4.99%, this offering is set to revolutionize the way personal finance is accessed in the region.
The new service, which requires salary assignment, is designed to complement the existing instant finance service available on the app since its inception. By enabling users to complete their applications entirely through digital channels, Al Salam Bank is setting a new standard for convenience and efficiency in the banking sector. The instant and seamless approval process eliminates the need for branch visits, saving time and simplifying procedures for users.
Mr. Haitham Al Haddad, General Manager of ONE App, expressed his enthusiasm for the launch, stating, 'We are delighted to launch a new digital financing product that embodies our vision of providing innovative banking services aligned with the aspirations of the digital generation.' He emphasized the app's commitment to offering flexible and secure financing experiences that grant users greater freedom in managing their financial needs.
The ONE App, powered by Al Salam Bank, is a comprehensive digital platform that provides access to a wide range of banking and financing products and services. Its user-friendly interface and advanced features make it a trusted digital platform that meets the aspirations of the digital generation.
From an investment perspective, Al Salam Bank's strategic focus on digital transformation and customer-centric services positions it well for future growth. The bank's commitment to enhancing digital financial inclusion and providing smart solutions is likely to attract a growing number of tech-savvy customers. Given these positive developments and the bank's strong financial standing, investors might consider holding their positions in Al Salam Bank as it continues to innovate and expand its digital offerings.
Source
Summary
ONE App, powered by Al Salam Bank, has launched a new digital personal finance service in Bahrain, allowing employees to apply for financing of up to BD 40,000 with a repayment period of up to seven years and an APR starting at 4.99%. The service requires salary assignment and offers a fully digital application process with instant approval, eliminating the need to visit a branch. This initiative aims to enhance user experience by providing flexible and efficient financing options. ONE App is committed to delivering innovative banking solutions that cater to the digital generation, focusing on digital financial inclusion and user-friendly services.
