Hana Bank Launches 'Pet Love Savings' for Pet Families

Providing Free Pet Liability Insurance Service as an Additional Benefit for New Subscribers
Offering Basic Interest Through Special Early Termination Before Maturity When Pet Medical Expenses Are Needed

[Asia Economy Reporter Kangwook Cho] Hana Bank announced on the 28th that it has launched a lump-sum savings financial product for pet families called 'Pet Sarang Savings'.

Launched in an era with 15 million pet owners, the biggest feature of 'Pet Sarang Savings' is that upon subscription, a 'Pet Liability Insurance Service Free Enrollment' is provided as an additional service.

In case a pet causes damage to others or other pets, insurance coverage is provided with a compensation limit of up to 5 million KRW per accident (with a deductible of 30,000 KRW). Even without an animal registration certificate at the time of subscription, customers can use the service by providing pet information such as animal type and breed, and submitting a photo of the pet via message to the insurer.

Pet Sarang Savings is a one-year savings product that allows subscription up to 500,000 KRW per month (minimum subscription amount 100,000 KRW) to prepare not only for the pet owner's lump-sum savings but also for unexpected large expenses while raising pets. In case of withdrawal before maturity for pet medical expenses, a special early withdrawal option with basic interest is available. The interest rate offers a basic rate of 1.0% per annum, and up to an additional 0.5% per annum preferential rate is provided if preferential conditions such as the Pet Sarang pledge, promising eternal companionship with the pet, are met.

An event commemorating the product launch is also underway. Through a partnership with FunNC Co., Ltd., which operates the largest domestic pet specialty shopping malls Gangaji Daetongryeong and Goyangi Daetongryeong, the first 9,000 new subscribers will receive a gift set worth 20,000 KRW consisting of an eco-bag for walks and a pet nutritional snack set.

A Hana Bank Retail Products Department official said, "Pet Sarang Savings is a product that kills two birds with one stone by preparing for lump-sum savings as well as economic burdens arising from raising pets," and added, "We will continue to strive to develop products that provide benefits and services tailored to the diverse needs of our customers."

Meanwhile, Hana Financial Group offers a comprehensive package of pet financial products for pet owners, including not only savings products but also 'Pet Sarang Card', 'Pet Sarang Insurance', and 'Pet Sarang Trust' products.