Abu Dhabi - Sarwa, recently introduced its 4th product, Sarwa Save, a high-yield cash account driving the company's monthly deposits to grow by 2.5X in just three months. As some financial institutions pull back amidst market volatility, Sarwa's reliability and consumer trust continue to drive expansion.
Since the beginning of the year, Sarwa’s monthly Deposits and trade volume grew by over 250%. Clients are increasingly prioritizing short-term savings with interest, seeking products that generate income while preserving capital. High inflation and an aggressive Federal Reserve response in 2022 led to challenging investment conditions, prompting a shift towards safer options. Cash accounts with competitive interest rates, like Sarwa Save, have become more attractive.
Most cash accounts in the UAE offer low to no interest, while Sarwa Save delivers nearly 4x the average rate making it an ideal short-term savings solution. There are no monthly account or low-balance fees. The hassle-free account setup, combined with the 3% interest rate, makes it an appealing choice compared to traditional banks. For a Sharia-compliant option, Sarwa also offers Sarwa Save Halal, a low-risk money market funds portfolio consisting of cash and cash-equivalent securities, projecting a 3% return net of all fees.
"We are very thrilled to see the rapid adoption of Sarwa Save, which reflects the growing demand for secure high-yield, low-risk products. Sarwa’s customers recognize the value in the offering and trust it with their hard-earned money. This trust has played a pivotal role in the impressive growth. Sarwa Save is a testament to the company’s commitment to providing innovative financial solutions and to empowering clients to navigate the evolving economic landscape with confidence." - Shane Shin, Co-founder and Managing Partner, Shorooq Ventures.
About Sarwa
Sarwa is a personal finance and investment platform on a mission to help everyone put their money to work. The app offers hands-off long-term investing with Sarwa Invest, self-directed trade of stocks, ETFs, and cryptocurrencies with Sarwa Trade as well as high-yield cash accounts with Sarwa Save. Sarwa makes investing easy, simple, and affordable by using smart technology to drive down costs. The company was founded by a team of financial, technology, and management experts and is backed by top regional and international stakeholders. To learn more, visit www.sarwa.co.
Source for average rates on saving accounts: bankbychoice.com
Sarwa Digital Wealth (Capital) Limited is regulated by the Financial Services Regulatory Authority (“FSRA”) in the Abu Dhabi Global Markets (“ADGM”) to provide arranging, financial advisory, and managing assets services. Sarwa Digital Wealth Limited is regulated by the Dubai Financial Services Authority (“DFSA”) in the Dubai International Financial Center (“DIFC”) to provide arranging and financial advisory services. Sarwa Crypto, Sarwa Trade, and Sarwa Save are products offered through Sarwa Digital Wealth (Capital) Limited which is regulated by the FSRA. These offerings are not regulated by the DFSA. Sarwa is not a bank. We can unlock high-yield accounts through our banking partners. This material is intended only for jurisdictions where Sarwa Digital Wealth (Capital) Limited is authorised to provide services and does not constitute an offer or solicitation to provide services in any jurisdiction where we are not permitted to do so
