With the recent announcement made of Nubank on the reduction in their rate of profitability from 13% to 12% annual effective to their so-called savings accounts, The list of the highest rates offered by the ‘fintech’ sector has changed.
It should be remembered that the digital bank mentioned making this decision as a result of the recent reduction of 50 basis points in the monetary policy interest rate by the Bank of the Republicin a context of declining inflation and the general economic conditions of the country.
(Besides: Nubank reduces the profitability rate of its savings accounts to 12% effective annually).
What is profitability?
In this case, the profitability in a savings account, as explained by the Commission for the Financial Market (CMF) of Chileis the profit that a person receives by putting their savings in a financial institution and is expressed through interest, which corresponds to a percentage of the amount of money saved. To these are added the readjustments that allow maintaining the purchasing value of the money that has been saved.
(You can read: Labor reform: are there companies in Colombia that have profits of more than 25%?).
They also emphasize that the savings formulas offered in financial institutions provide fixed income (interest rate that is known since the money is taken to the bank) and the variable income (when profitability will fluctuate depending on factors such as market behavior or inflation).
Profitability
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Taking into account that this new rate will come into effect on August 8, this is how the ranking of the highest return rates in the country remained.
1. RappiPay (14% E:A.): In this case, it must be taken into account that for accounts with a balance of less than two million pesos, the yield is 1% EA, and for larger balances, the yield is 10% EA.
2. Ualá (13% EA)– This option also offers free cash withdrawals at ATMs that accept Mastercard.
3. Lulo Bank (13% EA): It also offers 0.5% cashback on debit card purchases and 3% returns in restaurants on Tuesdays and Thursdays
4. Pibank (13% EA): It does not have minimum amounts or recharge charges; However, this alternative is 100% digital and does not have cash withdrawals.
5. Nubank (12% EA): Although its yield rate will drop from 13% EA to 12% EA from October 8, it remains an attractive option also given its strong clientele.
PORTFOLIO
