In response to the call to encourage savings behavior among the population, especially the youth, Weyay Bank, the first digital bank in Kuwait, announces the launch of Pro Pot, an innovative savings tool designed to help customers grow their savings with a competitive annual percentage rate.
The new Pro Pot is now available to Weyay app users. They can create up to 5 pots, mixed between normal and Pro, and effortlessly access their custom pots through a seamless in-app journey and top them up with a simple tap. The more money they keep in their Pro Pots and the longer it stays there, the more interest they earn over time.
The new tool allows customers to earn monthly interest on their savings while benefiting from unprecedented flexibility and ease of use. It offers some key features:
- Competitive annual interest rate: Customers receive their interest monthly, allowing them to maximize their savings and therefore their returns.
- No minimum balance: There is no minimum amount to start with, making this tool accessible to everyone.
- Flexible withdrawals: Customers can withdraw their balance at any time and have full access to their money. Their interest calculations are adjusted accordingly.
- Recurring transfers: Customers can set up automatic weekly or monthly transfers from their Weyay account to their Pro Pots, ensuring continuous savings growth.
- Full Transparency: The improved tool ensures complete transparency and provides app users with a comprehensive visualization calculator that allows them to see how their savings grow over time and what accrued interest is earned.
- Personal customization: Customers can personalize their pots with their preferred name and picture and set personalized savings goals they want to achieve, helping them stay motivated and track their progress.
“The Pro Pot, a tool developed with the needs of our customers in mind,” mentioned Amal Al-Duwaisan, head of Weyay Bank“Our goal is to give our customers the opportunity to grow their savings effortlessly while retaining full flexibility and control over their funds.”
The new Pro Pot reflects Weyay Bank’s commitment to introducing innovative and customer-centric solutions. By offering an interest-bearing savings option that is both flexible and transparent, Weyay Bank continues to improve the financial well-being of its customers.