All Savings Products Integrated... Up to 2.3% Interest Rate Applied

[Asia Economy Reporter Kwangho Lee] Shinhan Bank has launched the ‘Shinhan Al.Ssol Savings,’ a savings product that integrates preferential interest rates based on bank transaction performance into one savings account offering various preferential interest benefits.

According to Shinhan Bank on the 17th, the Shinhan Al.Ssol Savings allows multiple new savings accounts within a monthly deposit limit of 3 million KRW, and the maturity date can be freely set on a daily basis between 12 and 36 months, making it suitable for commemorative savings.

The interest rates applied are up to 2.1% per annum for 12 months or more, up to 2.2% per annum for 24 months or more, and up to 2.3% per annum for 36 months.

The basic interest rates are 0.8%, 0.9%, and 1.0% per annum respectively, with preferential interest rates up to 1.3% per annum available.

Preferential interest rates include ▲0.6% per annum on the monthly savings deposit amount for months in which 500,000 KRW or more is deposited into a Shinhan Bank deposit and withdrawal account ▲0.3% per annum on the monthly savings deposit amount for months in which payments are withdrawn from a Shinhan Card payment account designated as a Shinhan Bank account ▲0.6% per annum on the savings deposit amount using Shinhan Ssol’s open banking from other bank accounts ▲0.3% per annum when holding subscription-related savings accounts such as the housing subscription comprehensive savings account at Shinhan Bank.

In particular, preferential interest rates can be received simply by depositing 500,000 KRW or more monthly into the deposit and withdrawal account, even if it is not a salary from a workplace, allowing pension income earners, housewives, part-time workers, and others to benefit from the preferential interest rates.