Accessibility

High contrast mode

High contrast mode uses a limited color palette with contrasting colors for an easier use.

Change text size

Livionaire Account

1) What is a Livionaire Account?

A free of cost Savings Account where you can deposit your money.

2) How can I be eligible for the Livionaire Campaign?

All customers who create a Livionaire Account will automatically be eligible for the Livionaire campaign.

3) What are the minimum balance requirements for the Livionaire Account?

There are no minimum balance requirements for the Livionaire Account.

4) How can I add and withdraw money from my Livionaire Account?

You can add and withdraw money at any via your Liv App. Although we recommend you keep a minimum average balance of AED 5000 to be eligible for our Livionaire campaign. You can win exciting weekly and monthly prices and enter our draw

5) What are the Livionaire prizes?

  • Grand Prize (at end of the campaign): AED 1M for one customer to become a “Livionaire”
  • Monthly Prize (for the 3 months of campaign): 1 winner per month will win a prize equal to their Livionaire account balance (new to Liv funds), thus doubling the amount in the account (Prize money capped at AED 100k)
  • Weekly Prizes (for the 13 weeks of campaign): 10 winners get AED 1k worth of travel vouchers (to incentivize travel and maximize international spends)

6) What are new to Liv funds?

Any funds increase in your Liv account over and above the balance you maintained on Jan 14th 2024 will be considered as New to Liv funds. Only New to Liv funds in the Livionaire account will win you entries into the lucky draws.

7) How can I be eligible for the draw?

  • Grand prizes of one million dirhams (AED 1,000,000.00) in Livionaire account:
    An average account balance of five thousand dirhams (AED 5,000.00) over the duration of the Promotion Period will provide the Customer with one (1) entry into the Draw which gives the Customer a chance to win this Grand prize.
  • Monthly prize equal to Livionaire Savings Account balance (capped at AED 100,000):
    An average account balance of five thousand dirhams (AED 5,000.00) over a period of one (1) month during the Promotion Period will provide the customer with one (1) entry into the respective monthly Draw, which gives the Customer a chance to win the monthly prize. For the purpose of the draw, 15th January 2024 – 14th February 2024 will be considered as month 1 of the Promotion, 15th February 2024 – 14th March 2024 will be considered month 2 of the Promotion and 15th March 2024 – 14th Apr 2024 will be considered month 3 of the Promotion.
  • Weekly prize of travel vouchers worth one thousand dirhams (capped at AED 1000):
    An average account balance of five thousand dirhams (AED 5,000.00) over a period of one (1) week within the Promotion Period provides the Customer with one (1) entry into the Draw, which gives the Customer a chance to win this weekly prize.

8) When will the draws be held?

Draw schedule would be as follows:

  • 1st week of Mar’24: 1st Monthly draw, Weekly draws for weeks 1-5
  • 1st week of Apr’24: 2nd Monthly draw, Weekly draws for weeks 6-9
  • 1st week of May’24: Grand Prize, 3rd Monthly draw, weekly draws for weeks 10-13

9) How will I know if I win?

At the end of each draw, all Livionaire Account holders will get an email confirming the results of the draw and the number of entries they had in the draw. Winners will be contacted on their emails and phone numbers registered with Liv. The prize will be disbursed within 2 weeks of the Draw.

10) Will I earn interest on my Livionaire account?

Livionaire account will not be eligible for any specific interest. But, if you qualify for the bonus multiplier banking package, then the relevant interest rate will be applicable on the funds in the Livionaire account as well. Click here for more details on the Bonus Multiplier package. Interest calculated on the Livionaire account balance will be credited into the Livionaire account.

Representative example
Lets assume you have a balance of AED 10,000 across your Liv products (Primary account, Goal account, Money Ahead, USD account, Liv Young) as of Jan 14th 2024. And on 20th January, 2024, you deposit additional AED 18,000 into your Livionaire account and maintain it till the end of the campaign. Thus, your total balance at the end of the campaign will be AED 28,000. Then,

  • For the first week draw starting 15th January 2024, the new to Liv funds for the first 5 days was zero and AED 18,000 for the remaining 2 days; Thus, the average balance maintained for this week is (5*0+2*18,000)/7 = AED 5142; Thus, you are eligible for one entry in the weekly draw; For the weekly draws starting 22nd January 2024, the average balance maintained over the week would be AED 18,000 and you would be eligible for 3 entries into each draw;
  • For the first month draw, the new to Liv funds for first 5 days (Jan 15th – 19th) were zero and AED 18,000 for the remaining 26 days; The average balance maintained for the month = (5*0+26*18000)/31 = 15,096. Thus, you are eligible for 3 entries into the draw; For the remaining 2 months, the average balance for the months is going to be AED 18,000 and would be eligible for 3 draws as well.
  • For the grand prize, the new to Liv funds for the first 5 days (Jan 15th – 19th) were zero and AED 18,000 for the remaining 86 days; Thus, the average balance maintained across the campaign is (5*0+86*18,000)/91=17,010 and thus would be eligible for 3 entries of the draw

Liv Blog Articles