Sh Suhyup Bank Launches Marine Plastic Zero Savings and Deposit Accounts

'Clean Sea' Public Interest New Product
Interest Savings Up to 1.8% Annually
Savings Products Up to 3.0%

[Asia Economy Reporter Kim Min-young] Sh Suhyup Bank announced on the 9th that it has launched a public interest product, ‘Sh Marine Plastic Zero! Savings and Deposits,’ to raise awareness of the seriousness of marine plastic pollution and support the creation of clean oceans.

This savings and deposit product, available to any individual, offers preferential interest rates of up to 0.50 percentage points (up to 0.35 percentage points for deposits) when certain conditions are met, such as ▲pledging to reduce marine waste ▲participating in volunteer activities or product promotions ▲opening new deposit accounts ▲and maintaining automatic transfer withdrawal records.

Deposits can be made on a monthly basis for a period of 6 to 12 months with a maximum limit of 500 million KRW per person, offering a maximum annual interest rate of 1.8%.

Savings accounts can be opened for a period of 1 to 3 years on an annual basis. Fixed installment savings offer a maximum interest rate of 2.8% with a monthly deposit limit between 10,000 KRW and 1,000,000 KRW. Flexible installment savings offer a maximum interest rate of 3.0% with a monthly deposit limit between 10,000 KRW and 200,000 KRW.

Suhyup Bank plans to establish and contribute to a fund supporting marine waste reduction activities, such as those by the Korea Marine Environment Management Corporation, using up to 0.05% of the product’s average annual balance.