Singapore’s digital bank, Trust Bank, has launched a new feature called Savings Pots, designed to help customers save more effectively and with ease.
This tool allows users to create personalised savings pots for specific goals, such as emergency funds, travel, or a dream home.
Trust Bank reports that its new Savings Pots feature has seen significant adoption, with over 75,000 pots created since its launch.
Savings Pots offer flexibility and convenience, allowing users to set savings targets and automate recurring top-ups through the enhanced AutoPay feature.
The feature has no minimum deposit requirements, no lock-in period, and allows instant withdrawals without penalties for unexpected cash needs.
The bank has incorporated digital mascots representing local animals, which visually evolve as customers add to their savings.
This gamified element aims to make the saving process more engaging.
Funds in Savings Pots earn the same interest rate as Trust Savings Accounts and contribute towards eligibility for Trust+ privileges.
Aditya Gupta, Chief Product Officer, said,
“We are committed to providing our customers with the products and services they need for their financial wellbeing. While saving money is a top priority for many, building healthy savings habits can be complex and tedious.
Trust Savings Pots were developed directly using customer feedback and in a uniquely innovative way to offer customers an easy, automated, rewarding and fun way to grow their savings with greater control over their money.”
