Sangsangin Savings Bank Attracts 7 Billion KRW in Deposits Within 8 Days of Launching BangBangBang App

[Asia Economy Reporter Kim Min-young] Sangsangin Savings Bank announced on the 9th that it attracted 7 billion KRW in deposits within a week of launching its comprehensive digital financial platform application ‘BangBangBang’.

BangBangBang is a non-face-to-face app introduced by Sangsangin Savings Bank, providing services 24/7, 365 days a year, including ▲opening free deposit and withdrawal accounts ▲automatic loans without phone calls ▲account management ▲loan management ▲zero remittance fees ▲instant transfers.

Since its official opening on the 1st, it has recorded 60,000 cumulative visitors, 15,000 new account openings, and attracted 7 billion KRW in deposits and savings as of the 8th.

The app appears to have greatly benefited from the special promotional product launched to commemorate the app release, the ‘BangBangBang 777 Fixed Savings.’ This savings product attracted significant attention by offering an annual interest rate of 7.0%. It is a product available to the first 777 applicants who sign up daily at 10 a.m., and it is currently selling out rapidly. It is a 12-month maturity product with a maximum monthly deposit of 200,000 KRW, and interest is paid in a lump sum at maturity. The event runs until the 31st and applications are accepted even on weekends.

The regular savings account, which allows deposits and withdrawals at any time, offers an interest rate of 1.7%, which is significantly higher compared to other savings banks.

A representative from Sangsangin Savings Bank said, “We are pleased and grateful that the BangBangBang app has received so much interest and love immediately after its launch,” adding, “As a financial institution for the common people, we will repay the love we have received by providing products and services that can help customers during difficult times.”