KB Savings Bank Launches Special Deposit Offering with 3.1% Annual Interest Benefit

[Asia Economy Reporter Song Seung-seop] KB Savings Bank has launched a special deposit product offering an annual interest benefit of 3.1%.

According to the financial sector on the 22nd, KB Savings Bank's 'KB e-plus Fixed Deposit,' which began sales on the 20th, is available with a total limit of 50 billion KRW. If the subscription period is set between 12 months and less than 24 months, customers can enjoy the interest rate benefit without any additional conditions. The minimum subscription amount is 1 million KRW, and it is also possible to subscribe through tax-exempt comprehensive savings accounts.

This deposit product can only be subscribed to through non-face-to-face channels. Applications can be made via the KiwiBank mobile application (app) or web page.

Additionally, KiwiBank offers the 'Gold kiwi Savings' product, which provides up to 4% annual interest. Gold kiwi Savings is a fixed savings product exclusively for open banking customers. The subscription period is 12 months, with a monthly deposit amount ranging from a minimum of 10,000 KRW up to a maximum of 200,000 KRW. The subscription method is on a first-come, first-served basis for 10,000 accounts.

The basic interest rate is 1.5% per annum, but preferential interest rates can be received if conditions are met. If the first payment is made from a deposit/withdrawal account at another bank registered with open banking and the KiwiBank open banking service is maintained until maturity, a preferential interest rate of 2 percentage points per annum is granted. Additionally, an extra preferential interest rate of 0.5 percentage points per annum is given for 10 or more automatic transfers.

Furthermore, Livemate points are awarded differentially according to the installment number when automatic transfers are made monthly. Points equivalent to 5,000 KRW in cash are specially accumulated.

A KB Savings Bank official stated, "This special offer is being conducted in celebration of Family Month in May."