UAE – Banks allow premium payment over 1 year
Saturday, 08 04 2018, Category: Banking, Country: U.A.E
National banks recently allowed customers to pay the motor insurance premium over 12 months and obtain competitive prices from insurance service providers dealing with banks. This mechanism does not imply paying interest rates to the banks against this service.
Some customers said that they received text messages from their banks explaining that they can settle the premiums of motor insurance over 12 months without charging interest noting that payments will be made through the credit cards of customers.
Source: Economic Al Khaleej