[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 8th that it has launched the 'Areumdaun Yonggi Savings and Deposit,' an ESG (Environment, Social, Governance) practice product that allows customers to receive preferential interest rates while practicing ESG in daily life.
The 'Yonggi' in Areumdaun Yonggi Savings and Deposit carries a double meaning of a container (bottle) and courage, supporting the beautiful courage to endure inconvenience for using reusable containers instead of disposable ones. It is an ESG practice product.
First, the Areumdaun Yonggi Time Deposit is a 1-year maturity deposit launched with a limit of 100,000 accounts. One person can open one account with up to 30 million KRW, and it offers a maximum interest rate of 1.8% per annum by applying a basic interest rate of 1.65% per annum plus a preferential interest rate of 0.15% per annum.
The preferential interest rate is provided if any one of the following conditions is met: ▲ subscription to Areumdaun Yonggi Installment Savings ▲ pledge to know and practice the disposable cup deposit system ▲ new customers via non-face-to-face, bank transfer without passbook, or digital branch ▲ account holder aged 65 or older.
The Areumdaun Yonggi Installment Savings is a 1-year installment savings account allowing flexible monthly deposits up to 500,000 KRW. It offers a basic interest rate of 1.1% per annum, and if three or more of the preferential conditions are met?▲ uploading and sharing photos practicing reusable containers on Shinhan SOL app ▲ pledge to know and practice the disposable cup deposit system ▲ new customers via non-face-to-face, bank transfer without passbook, or digital branch ▲ account holder aged 65 or older?an additional maximum 1.5 percentage points are applied, providing a maximum interest rate of 2.6% per annum.
In particular, Shinhan Bank is conducting the 'Areumdaun Yonggi Challenge' event until February 7 next year to encourage more customers to participate in eco-friendly activities through this product.
Shinhan Bank will provide 700 upcycled fashion bags by lottery to customers who complete three or more of the four eco-friendly missions, and all customers will receive up to 10,000 My Shinhan Points each time they complete one mission.
Meanwhile, as Shinhan Bank has been selected as the dedicated bank for managing funds for the disposable cup deposit system, it will lead ESG activities by donating up to 400 million KRW to resource circulation and environmental protection activities, contributing 2,000 KRW per account when customers subscribe to the Areumdaun Yonggi Savings and Deposit.
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