Five most viewed financial products
Dubai's price comparison website, Souqalmal.com, compiles list of most favourable financial products
June 13, 2013 3:50 by Muhammad Aldalou
When Ambareen Musa, founder and chief executive officer of Souqalmal.com – a Dubai-based price comparison website – was recently working on compiling lists of the most commonly considered financial products in the UAE, there was one thing in particular that astonished her.
As the date of publishing neared, Musa received a surprising call from one of the banks that happened to have its products featured on the list – asking why they were on it and who had “authorised this marketing investment”. Shocked, she explained that the list wasn’t sponsored and wouldn’t cost them anything. “It merely showcases the popular products based on user viewings,” she adds.
“They were genuinely surprised,” says Musa. “The feedback I got was: ‘This is the first time that we haven’t had to pay to be high up in published rankings – we are not used to it’”.
“For me, this was yet another reason to believe that Souqalmal.com’s independent search results – which are based on what is out there in the market and our most popular rankings which (based on customer views) – really bring something new to consumers in the UAE.”
The site compiled its list of the top-five most viewed financial products across four categories: Credit cards, personal loans, home loans and car loans. The list acts as an indicator of which products garner the most interest in the personal finance market – a tool useful for both banks and consumers. Products only made the list if they received the most views from visitors to the website.
The Emirates NBD loans option – offered to expats with a minimum salary of AED5, 000 at a profit rate of 6.66 per cent – was considered by visitors as the most favourable.
“By visiting the website and then clicking on a particular product, users were given a voice to tell us what they liked. For us, it is a comprehensive guide to where our site traffic is going and which products gauge the users’ interest the most,” says Musa.
She continues to say that this list is the first of its kind to be published here and she feels it would offer the UAE’s residents an interesting insight into what financial products others are interested in. It also provides banks with a clear idea of how their products are faring in the market place and, more importantly, the types of financial products consumers are interested in.
Click on the image below for the full list.