OK Savings Bank Launches ‘OK Pay Account’ with Up to 7% Annual Interest

OK Savings Bank announced on the 1st that it has launched the ‘OK Pay Account,’ which offers up to 7% annual interest when linked as a recharge account for simple payment services.

The OK Pay Account is a ‘pay-customized’ deposit and withdrawal account that provides interest benefits tailored to the consumption trends of the MZ generation (Millennials + Generation Z), who have made simple payments a daily habit. The basic interest rate of the OK Pay Account is 4.0% per annum (before tax) on balances up to 500,000 KRW, and 0.5% per annum on amounts exceeding 500,000 KRW. In particular, if the OK Pay Account is registered as a payment and recharge account with the four major pay services (Naver Pay, Kakao Pay, Payco, Toss Pay), a preferential interest rate of 3.0% per annum is provided.

The OK Pay Account is available to all individual customers and can be opened non-face-to-face through the OK Savings Bank mobile application (app).

An OK Savings Bank official said, “We launched the customized product OK Pay Account to provide high-interest benefits to customers who frequently use simple payment services,” adding, “We hope customers link their OK Pay Account as a recharge account for simple payments to enjoy high-interest benefits.”