Coop Pank launched a savings product Rahasahtel that offers greater freedom
06.11.2023
Domestic Coop Pank has expanded its range of services for private clients and began offering a flexible savings solution called Rahasahtel, whose users can conveniently set different rules for saving money. Coop Pank pays 2% per annum on Rahasahtel deposits.
Teet Kerem, head of everyday private banking at Coop Pank, noted that Rahasahtel is a smart solution that helps collect money discreetly and offers greater freedom of choice compared to other similar products: “We are taking the first significant step in creating saving habits. Savings is an area where we see potential, and we plan to offer other innovations in this regard.”
Rahasahtel solution is available free of charge to all Coop Pank clients over the age of 7 and helps to comfortably collect money and safely increase it, for example for peace of mind or a dream trip. Rahasahtel shows how much of the goal has already been achieved and how much remains to be collected on a visual graph.
Rahasahtel is a deposit account with new content, where each user can deposit the required amounts at a suitable time or use an automatic accumulation system. Coop Pank pays 2% per annum on funds in Rahasahtel. Interest is calculated on a daily balance basis and interest payments are made once a month.
Teet Kerem added that the advantage of Rahasahtel over other similar products is its greater flexibility, since each user can choose the most suitable method for collecting money and ultimately form a useful habit of saving. You can collect money in Rahasahtel automatically, through special transfers, or use both methods as you see fit.
Kerem also noted that the money accumulated in Rahasahtel can be withdrawn the next day without additional fees. “This is what participants of our customer survey wanted in order to help them take control of their emotional purchases. At the same time, it was indicated that this period should not be longer, since we live in a rapidly changing world and unexpected things can happen to everyone when the accumulated money must be used as soon as possible,” Kerem said.
To use Rahasahtel, open the Coop Pank app and from the menu select “Kogumine” and then “Rahasahtel”. You will then be able to choose which account you want to link to Rahasahtel and how the savings process will begin.