SANTO DOMINGO.-Banco de Reservas announced this weekend a new product for the national financial system: the Dominican Republic's first Digital Time Deposit, a product that offers a fixed interest rate according to the amount and term chosen by the customers.
The Digital Time Deposit is available through the Banreservas app and can be requested by the financial institution's personal clients whose account has a minimum balance of RD$10,000, according to a press release from the entity
He explains that the financial institution's clients can open the product, formerly known as a financial certificate, with terms from 2 to 60 months and choose how they wish to receive the return on their investment, either capitalized or credited to their account.
The general manager of Banreservas, Samuel Pereyra, explained that this innovative investment instrument is not only the first of its kind created in the country, but is also part of the actions carried out by Banco de Reservas to promote financial inclusion and education for the benefit of all Dominicans.
“Our goal is for all Dominicans to find in Banreservas a way to access the advantages and benefits offered by our national financial system. All the most developed countries in the world have something in common: high levels of banking penetration and financial literacy among their societies,” he said.
The Digital Time Deposit is aimed at individual clients with an active account at Banreservas. It was reported that users without a Banreservas account can access this new product by opening their Digital Account through the Banreservas app, without needing to visit a branch.
This product is also a tool that contributes to achieving goals, increasing savings, building a banking history, and improving personal finances.
