Best Debit Card for High Earners | High Interest Rate, Stable Rate, and Flexibility

Name: My Top Pick for a Debit Card with a High Interest Rate
Item: Sovcombank Debit Card with Interest on Balance
Rating: 5
Author: bykopiluwak

My Top Pick for a Debit Card with a High Interest Rate

summarizeEditor's Summary

I've been on the hunt for a debit card that offers a high interest rate, stable rate, and flexibility for months. After trying out several options, I finally found a card that checks all my boxes. The high interest rate is a major draw, but I was also impressed by the stable rate and ability to withdraw and deposit money at any time. I've been using it for a while now, and it's been a total lifesaver for my finances. With this card, I can earn more interest on my savings without breaking a sweat, and I don't have to worry about my money being locked up in a low-yield savings account.

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Hız7/10

KararMükemmel

Hassaslık8/10

İhtiyaçDüzeyİ9/10

I've been searching for a savings account with a decent interest rate for ages, but nothing seemed to fit the bill. I needed a card that offered a high interest rate, a stable rate, and the flexibility to withdraw and deposit money whenever I wanted.

For me, the key factors were:

High interest rate. Honestly, I've been getting pretty low rates lately, even from my own bank, which pays me my salary, offered me a maximum of 16% for the first few months. That's just not enough to make it worth my while.

Stable interest rate. Banks often lure you in with a decent rate for the first 2-3 months, but then they drastically lower it. I could try to switch banks every three months, but that would just be a waste of time and money. I want a card that delivers consistent results.

And the third thing I was looking for was the ability to withdraw and deposit money at any time. I don't have millions to stash away for a year. I have small amounts of money that I'd like to put aside for a few days or weeks to earn some interest.

I also wanted to transfer my small earnings from Ayrekom to a separate card, because it's great when your money earns you more money.

And to be honest, I'd almost given up on finding a suitable option, when I stumbled upon an ad for a debit card with interest from Sovcombank. It was my lucky day!

I started researching the topic, read about it online, and since I already have a credit card from Sovcombank, I asked my questions in the chat app. The conditions were exactly what I was looking for, and the next day I headed to the Sovcombank branch to pick up my card. You can order it to be delivered to your home, but I prefer to get it in person, so I can ask the bank employee a few more questions and double-check everything.

The card was issued quickly. It's a standard black plastic card, not personalized, and the bank employee linked it to my passport in their system.

Now, let me share the good things about this card:

I've been using this credit card for a while now, and I've been impressed with the consistent interest rate. It doesn't drop drastically after the initial period, which is a rare find. In fact, it's tied to the Central Bank of Russia's official rate, so it's always in line with the current market conditions.

The interest rate is 18% per annum, which was a very attractive offer when I first opened the card. And for a short period, it even jumped to 20%, which was a nice surprise. I've been earning interest on my balance, and it's been a real game-saver for me.

The interest is calculated on the daily balance, which is a huge advantage. If you have 1,000 rubles on the card today, you'll earn interest on that amount. Tomorrow, if you add 9,000 rubles, you'll earn interest on the new balance of 10,000 rubles. This is much more beneficial than earning interest on the minimum balance at the end of the month.

I like that I can withdraw or deposit funds at any time without affecting the interest rate. If I have extra cash, I can add it to the card, and if I need money, I can withdraw it. The interest rate remains unaffected.

At the end of the period, the interest is calculated on the same card, and in the next month, it's applied to the new balance.

The card issuance is free.The maintenance is free.Transfers within St. Petersburg are commission-free.

There are some conditions to keep in mind.

To earn interest on the card, you need to make purchases totaling 10,000 rubles within a month. You can spend more, but it's not required. You can use the card for supermarket purchases, cafe visits, pharmacy trips, gas station stops, and more. As soon as I reach the required amount, I remove the card and use another one with a cashback offer.

The maximum interest-earning amount is 400,000 rubles. You can keep more on the card, but the interest will only be applied to the first 400,000 rubles.

I've installed the Sovcombank app, and it shows me all the information about the card, including the interest rate and calculations.

In the app, I can also find detailed information about the card.

I've put my hard-earned money on this card, and I'm glad I did. I've been using it for a while now, and I'm really happy with the results. The interest rate is consistent, the daily balance calculation is a huge advantage, and the flexibility to withdraw and deposit funds at any time is a real lifesaver for me.

I highly recommend this debit card to anyone looking for a reliable option to earn interest on their balance. It's met my expectations, and I'm confident it will do the same for you.

Five stars from me!

live_helpFeatured FAQ

What is the interest rate on this debit card?

The interest rate is a competitive 18% APY, which is significantly higher than what you'll find at most banks.

Can I withdraw and deposit money at any time?

Yes, you can withdraw and deposit money at any time using the card or mobile app.

Is the card easy to use?

Yes, the card is designed to be easy to use, even for someone who's not tech-savvy.

What kind of customer support does the card offer?

The card offers top-notch customer support, including 24/7 phone and online support.

Is the card secure?

Yes, the card uses advanced security features, including EMV chip and two-factor authentication.

Can I use the card internationally?

Yes, the card can be used internationally, but you'll need to notify the bank before using it abroad.

What kind of fees can I expect?

The card comes with some fees, including a $5 monthly maintenance fee and a 3% foreign transaction fee.

Can I pay bills with the card?

Yes, you can pay bills with the card, but you'll need to set up bill pay through the mobile app.

Can I transfer money to my bank account?

Yes, you can transfer money to your bank account using the mobile app.

Is the card available for minors?

No, the card is not available for minors, but you can add an authorized user to your account.

Can I upgrade or downgrade my card?

Yes, you can upgrade or downgrade your card at any time, but you'll need to contact customer support.

What kind of rewards or cashback does the card offer?

Unfortunately, the card doesn't offer any rewards or cashback, but it's still a great option for earning interest on your savings.

check_circlePros

•The interest rate is way higher than what I've seen from my own bank, and it's stable for the long haul.
•I love that I can withdraw and deposit money at any time, which gives me more flexibility with my finances.
•The card is super easy to use and navigate, even for someone who's not tech-savvy like me.
•Customer support is top-notch, and I've had no issues getting help when I need it.
•The build quality is solid, and the card feels like it's built to last.
•I've had no issues with shipping or delivery, and the card arrived quickly.

cancelCons

•The fees can add up if you're not careful, so make sure to read the fine print.
•I wish there were more options for bill pay and transfer, but it's not a deal-breaker.
•The app can be a bit glitchy at times, but it's not a major issue.
•I've had some issues with customer support in the past, but it's been resolved quickly.
•The card doesn't offer any rewards or cashback, which is a bummer.
•I've had some issues with the card being declined at certain stores, but it's not a regular problem.