Turkmen banks to introduce deposit cards: more savings - easier access
Banks of Turkmenistan introduce deposit cards with a 6 percent interest rate for individuals, which will allow holders at any time to have access to the funds stored on the account. At the same time, there are no additional restrictions on withdrawing cash and making payments.
Opening a regular deposit account assumes that the client must contact the bank every time he wants to withdraw funds. Deposit cards will allow holders to receive interest income with the ability to withdraw cash at any time through ATMs and pay for purchases using payment terminals, without visiting the bank.
According to the State Statistics Committee of Turkmenistan in 2017, the population's deposits in the country's credit institutions increased by 133.8%. This indicates the existence of several important socio-economic trends in Turkmenistan: the incomes of citizens increase, allowing them to find additional funds for deposits; there is growing confidence in credit institutions that offer profitable deposits; the financial literacy of the population, which is necessary in the rapidly changing world market, is increasing.
The introduction of deposit cards will significantly increase the growth of the number of bank deposits in Turkmenistan, and the population will receive additional income at favorable interest rates.
