Sarwa launches new product Sarwa Save on its app

By Leandra Monteiro

Sarwa, a UAE-based investing platform and the app has launched its new product Sarwa Save.

Sarwa Save is a cash account with high yields, a new addition to the line of investment offerings under Sarwa. It provides many key advantages in today’s market: a 3% interest rate, zero transfer cost for AED local accounts, no account minimums, no management fees, as well as easy and fast online onboarding.

“While we are strong believers in long term passive investing, we are also conscious of how market conditions might affect short/medium-term goals. Having a short-term investing option is an important part of a good financial plan. Our clients were asking for a product to park their cash while earning returns, with the same easy access and simple experience as their Sarwa Invest, Sarwa Trade and Sarwa Crypto accounts. As always, we listened to our community and decided to launch our fourth pillar: Sarwa Save,” said Mark Chahwan, Co-founder and CEO of Sarwa.

This added product makes it easier than ever to centralize all different investments a client looks for in one app, from hands-off long-term investing to self-directed trading and an option of interest on cash. Sarwa also offers a sharia-compliant equivalent, Save Halal, a low-risk money market funds portfolio, which consist of cash and cash-equivalent securities projecting a return of 3%, net of all fees.

Sarwa Save was developed with these insights in mind and offers a stepping stone for those who are about to start their investment journey or investors that want to earn returns on their parked cash.  Clients can give different names to their Sarwa Save account, from ‘emergency account’, ‘daycare tuition’ to ‘new car’ or ‘fight inflation’, to help them focus on the end goal.

“The average yield on saving accounts in the UAE banks is around 0.8% as it stands today. Sarwa Save offers almost 4x this amount. Diversification is at the essence of a sound investment strategy, and we’re happy to continue expanding our range of wealth management products,” added Mark Chahwan. “Our aim is to help everyone reach their financial goals by managing their money through different tools, all in one place.”