[Asia Economy Reporter Song Seung-seop] Savings bank installment savings products are gaining attention in celebration of Family Month. This is because they offer relatively higher interest rates than commercial banks and have a more diverse range of products.
According to the financial industry on the 8th, Welcome Savings Bank operates the ‘Ai Sarang Jeonggi Jeokgeum’ (Child Love Regular Savings). This product is available to couples with children under 10 years old or pregnant women.
The basic interest rate is 3% per annum, and an additional preferential interest rate of 1 percentage point is applied when automatic transfers are made from a Welcome Savings Bank free deposit and withdrawal account. However, at least 8 automatic transfers must be made over 12 months. The monthly payment amount is up to 100,000 KRW, and subscriptions are possible at branches and through the bank’s own application (app). A family relation certificate or pregnancy confirmation document is required for subscription. When using the app, you can register by photographing the document.
By using Moa Savings Bank’s ‘Birthday Celebration Regular Savings,’ you can gift a preferential interest rate account to a child born in May. Customers born in the applicable month are offered an annual interest rate of 2.5%. Only an ID card proving the birthday is required. Monthly payments of 300,000 KRW or more are possible, and subscriptions can be made around 10 days before or after the birthday.
Even if it is not May, newborns born this year are eligible for the 12 Zodiac Regular Savings. Customers born in the Year of the Ox can receive a fixed interest rate of 2.5% per annum. The payable amount is also 300,000 KRW or more per month. Customers wishing to subscribe must visit a branch with documents that can verify their real name.
In the era of pets, SBI Savings Bank’s ‘Star Pet Regular Savings’ is also attracting attention. Regardless of the type of pet, it offers an interest rate of up to 3.2%. An amount equivalent to 1% of the maturity interest is donated to support a safe and happy pet society.
The basic interest rate is 2.2% per annum, with a preferential interest rate of 0.9 percentage points. Customers who join the SBI Family Membership for the first time receive an additional 0.1 percentage point preferential interest rate. To receive the 0.9 percentage point preferential interest rate, customers must post a photo taken with their pet in the comments on SBI Savings Bank’s official Facebook page and apply for automatic account transfer.
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