monobank is testing an investment feature for Jars with over 1100 euros or dollars
Monobank co-founder Oleg Gorohovsky announced testing of a new feature for currency Jars, which allows you to receive interest on savings. How it works
Monobank co-founder Oleg Gorohovsky announced testing of a new feature for currency Jars, which allows you to receive interest on savings. How it works
«I have currency lying around in my bank account and I constantly regret that it doesn’t make any money. It seems we’ve decided it! Now dollars and euros will bring profit, and they can be withdrawn at any time!», — said Gorohovsky.
He explained that this is a new feature of Jars (monobank savings accounts) that allows users to enable investing and receive 3,7% and 2,8% per annum, depending on the currency. The feature works for Jars from 1,100 euros or dollars.
«Under the hood, we will buy government bonds for the balance of this Bank. And you can withdraw any amount even the next second after replenishment. Of course, you won’t earn anything so quickly, but you won’t lose anything either,» explained Oleg Horokhovsky.
The feature is in test mode, to access it you need to update the monobank application to the latest version and go to the Jar. The first 5,000 users who enable this feature can try out investing. The next ones will be added to the queue.
«Right now we don’t have enough foreign currency government bonds to satisfy the greater demand. But if there are many interested parties, we will buy more and continue. Now it depends on you whether this product will survive or not, but I really like it. We saw something similar at Wise and did it for you,» noted the co-founder of monobank.
Previously, the application introduced an AI feature that should improve the user experience when making payments.
Read the country’s main IT news in our Telegram
Read the country’s main IT news in our Telegram
Former CMO of Monobank became a co-founder of a Nigerian fintech. What is known about the project
Former CMO of Monobank became a co-founder of a Nigerian fintech. What is known about the project
Monobank has an AI function that finds details in uploaded images
Monobank has an AI function that finds details in uploaded images
monobank launches monobazaar, where you can buy or sell used things. How is it different from OLX?
monobank launches monobazaar, where you can buy or sell used things. How is it different from OLX?
