Nu : Mexico announces a new annual yield for its savings product, Cuenta Nu

Mexico City, March 26, 2024 - Nu Mexico announced a change in the differential annual rate of return for Cajitas in Cuenta Nu, which will be of 14.75% per year as of April 16, 2024. This rate will be maintained until May 23 of the current year, when it will be reviewed and adapted to factors such as the macroeconomic context of Mexico, to continue being one of the most competitive in the market.

One of the factors that impact the differential base rate is the Interbank Equilibrium Interest Rate (TIIE) of the Bank of Mexico, which recently went from 11.25% to 11.00%. Nu will always inform its customers of these changes in a clear, transparent, and timely manner. "We firmly believe that giving our customers high returns on their deposits is the right strategy to encourage the habit of saving, and proof of this is the more than one billion dollars deposited by our customers in their Cajitas at the end of 2023. We want our customers to regain control of their finances, which is why the experience of using Cajitas is simple and easy, allowing them to separate their money in just three clicks to facilitate its growth and provide them with greater security," says Ximena Salgado, Product Leader of Nu Mexico.

The nominal Total Annual Gain (GAT) of Cuenta Nu after this adjustment is 15.89% and the real Total Annual Gain is 11.60%. Learn more at nu.com.mx/cuenta

How to send money to Cajitas to earn 14.75% annual interest rate?

To transfer their money to Cajitas, customers simply need to access the Cuenta Nu section in their app, click on the Cajita to which they want to send their money, and then on the purple button that says "add". In a simple way, the money that will generate returns is transferred to this space. To withdraw money from a Cajita and make it accessible through the debit card, the same steps must be followed, but with the "withdraw" button.

In just 3 clicks, Cuenta Nu users will be able to further protect their money, but also have it available 24 hours a day, 7 days a week. The annual interest rate of 14.75% will be updated on April 15, 2024, in the app and will apply to all deposits that Nu customers have in Cajitas, starting at 00:00 on April 16, 2024.

Nu continues to strengthen its product portfolio, fostering good financial habits among Mexicans

Nu's design philosophy is to create products that are financial education tools in themselves and that encourage good financial habits, such as saving and planning. Therefore, the yield on Cuenta Nu is intentionally paid only in "Cajitas" and the purple digital finance company continues in its process of co-creating its products, hand in hand with its customers in Mexico.

"Since the launch of Cuenta Nu, Mexicans have trusted us because we have constantly strengthened the functionalities and the value promise together with our customers. More recently, we added the option to deposit cash at ATMs of certain supermarkets, we integrated with Banxico's instant payment system, Dimo, and we offered the option to receive money from the United States. We are proud to see how we are already positively transforming the lives of millions of people who are already Cuenta Nu customers while we work to become the number one option for Mexicans, both in payment transactions and in savings initiatives," concludes Salgado.

With over 5.5 million customers in Mexico, Nu already offers a platform of financial products comprised of a Credit Card, Savings Account with a debit card, and Personal Loans, and seeks to continue expanding this product portfolio in the future to further meet the financial needs of Mexicans.