No strings attached: UNO Bank offers 6.5% interest rate on deposits

UNO Digital Bank is taking a subtle swipe at its competitors in promoting its online banking services.

The bank announced a fixed 6.5% interest per annum on deposits, contrary to the practice of other online banks which offer a base rate and rewards clients with higher interest rates in increments for high-value transactions made through their app.

“Enjoy 6.50% with no conditions, no fine print! This is our regular interest rate,” its latest ad read.

China inflation stays low as growth sputters

Chinese inflation came in flat again in May, official figures showed Friday, as the country’s economy sputters owing to softening demand and falling exports, leading to calls for a rate cut and a bigger government stimulus.