Ruble bank cards with interest credited on the funds that clients have in their accounts are not offered by many banks. For a few years now, they have been issued by Binbank, MKB, Russky Standart and some others. Last year Trust Bank, UralSib and Mezhprombank Plus joined in and, as of a few days ago, Agropromkredit now also offers these cards.
Income on such cards is calculated once a month, usually at a rate of 5 percent to 10 percent per annum, in rubles. For foreign currency it is less.
Profitable cards have always been popular. After all, it is basically a current account with interest not much lower than that of a high-interest savings account. It can also be thought of as a demand deposit with increased income, and it is always at hand. Card owners do not need to go to the bank every time they need money, and if they need the full amount, they can withdraw it without losing any of the previously accrued income.
Card accounts are insured the same way as conventional deposits.
Interest rates on cards are always lower than on long-term time deposits but, as a rule, higher than on short-term deposits. Clients usually hold funds on their cards for on average a few months, bankers said.
Of course, unlike a conventional deposit, a card can be easily lost or left in the ATM, and card fraud has intensified in recent years. But that is another story.
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