Nu Holdings Ltd Lowers High-Yield Savings Rate in Mexico

Nu Holdings Ltd, the world’s biggest standalone digital bank, is set to decrease the yield on its high-yield savings account in Mexico by 25 basis points to 14.75%. This adjustment comes shortly after Mexico’s central bank lowered its key rate. The new rate will be effective from April 16 until May 23. The decision was influenced by Mexico’s central bank decision to decrease its rate by 25 basis points to 11%. The company, based in Sao Paulo, considers the macroeconomic context in Mexico to provide a competitive rate in the market.