KDB Industrial Bank Launches 'KDB Toss Savings' Offering 4% Annual Interest to Toss Members

Toss Members Eligible for Up to 4.0% Annual Interest Rate, Weekly Deposit 6-Month Maturity Savings Account Launched

[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank announced on the 15th that it has launched a new fintech partnership product, KDB Toss Savings, as part of the 'Fintech Technology Cooperation and Joint Development and Sales of Financial and Non-Financial Products and Services' agreement signed with Viva Republica (Toss).

KDB Toss Savings is a partnership-exclusive mobile product that anyone aged 17 or older who is a resident of Korea can easily subscribe to through Toss. It is a 6-month flexible savings account with weekly deposits (minimum 10,000 KRW to maximum 50,000 KRW per week). It offers a base interest rate of 0.5% per annum, plus preferential interest rates up to 3.5% per annum for automatic transfers and Toss remittance benefits, providing a maximum annual interest rate of 4.0%.

An official from Industrial Bank explained, "We will continue to actively collaborate with promising fintech companies to foster innovative enterprises that can drive Korea's sustainable growth, as well as strive to launch customer-friendly financial products and services."