KB MyFit Account, Manage by Splitting According to Living Expenses and Emergency Funds Purposes

KB Kookmin Bank 'KB MyFit Account'

[Asia Economy Reporter Park Sun-mi] Customers who have hesitated to practice splitting bank accounts (a method of dividing one bank account into several for different purposes) due to the inconvenience of opening multiple accounts should take a close look at the KB MyFit Account.

The KB MyFit Account, a deposit and withdrawal account available to customers aged 18 to 38, features a core function called ‘money splitting,’ which allows managing one account by dividing it into basic expenses, living expenses, and emergency funds according to management purposes. This new concept service, which is like having another account within one account, enables users to easily activate or deactivate the living expenses and emergency funds functions via on/off buttons on KB Kookmin Bank’s exclusive apps, KB Star Banking or Liiv, as needed.

The living expenses function sets a monthly spending limit to be used with the KB Check Card, helping users practice planned spending by using the KB Check Card.

It is possible to apply for automatic monthly transfers of a fixed amount to the living expenses fund, and the service also provides notifications of the amount spent up to the current day, adding convenience to expense management. In particular, the amount separated as emergency funds offers an annual interest rate of 1.5% up to a limit of 2 million KRW when performance conditions are met, allowing users to earn interest while having the flexibility to withdraw funds anytime when needed.

A KB Kookmin Bank official said, “Since funds for different purposes are managed within a single account, the amount transfer button makes it easy to move balances to basic expenses, living expenses, or emergency funds, eliminating the hassle of having to open multiple accounts and enhancing convenience in budget management,” adding, “The KB MyFit Account will help create a financial habit of splitting and using money according to spending purposes.”