Cuenta Nu evolves in Mexico: annual yield increased to 15% and multiple Money Boxes introduced
Starting today, Nu's savings account in Mexico will offer an annual yield of 15% for the money deposited in Cajitas (Money Boxes in English) to help its clients achieve their savings goals
Nov 8 , 2023
Mexico City, November 8, 2023 – Nu México, Nubank’s subsidiary in the country, announced an increase in the annual rate of return on the money deposited on the Money Boxes of Cuenta Nu. The new yield stands at 15% fixed annual rate, one of the highest on the market, which translates into higher returns for customers, while maintaining liquidity 24/7.
“At Nu, we put our customers at the center of all our decisions and actively listen to them when designing our products. For this reason, we have strengthened the value proposition for Cuenta Nu by increasing the benefits customers can obtain by saving with Money Boxes, in addition to now offering the option of creating multiple Boxes, to help them plan towards different goals” explains Ximena Salgado, Product Leader at Nu México.
Nu México identified that one of the main barriers to savings is the lack of financial organization. In a survey carried out to 1,500 people between 18 and 45 years old, 40% responded that what keeps them from saving is the fact that unexpected expenses arise and they can’t make ends meet, while 14% indicated that they do not know how to organize money and, as consequence, 12% said they have no control over their money.
“Money Boxes encourages Mexicans to better organize their finances and meet their savings goals, while allowing them to grow their money daily with one of the most attractive yields on the market and 24/7 liquidity. Like all our products, the Money Boxes experience is simple, allowing customers to separate their money and make it grow in just three clicks. 90% of deposits on Cuenta Nu are saved in Money Boxes” adds the product leader of Nu México.
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