K Bank Opens Pension Savings Accounts with Hanwha Investment & Securities

Tax Credit Benefit Up to 990,000 KRW

K Bank announced on the 8th that it has started offering the service to open Korea Investment & Securities pension savings accounts. This is the first time pension savings accounts can be opened through its own application (app).

The pension savings account is a product that allows preparation for retirement funds while receiving tax benefits. It provides a tax credit of up to 990,000 KRW within an annual limit of 6 million KRW. A low tax rate of 3.3% to 5.5% is also applied when receiving the pension.

To celebrate this account opening partnership, K Bank is running a promotion until the end of March this year, offering a 10,000 KRW Shinsegae gift certificate. Customers who open a Korea Investment & Securities pension savings account for the first time this year through the K Bank app, deposit more than 100,000 KRW after opening the account, and maintain a balance of 100,000 KRW until the end of April will receive a Shinsegae gift certificate worth 10,000 KRW.

All customers who open pension savings accounts will receive preferential benefits on online trading fees for domestic listed ETFs and REITs (0.0042087%) until the end of the year. When taking out a secured loan against the pension savings account, a fixed interest rate of 3% per annum will be offered for up to 2 years.

A K Bank representative said, “Opening a pension savings account for the first time at the beginning of the new year allows you to enjoy tax credit benefits and prepare efficiently for year-end tax settlement,” adding, “To celebrate this partnership, we have prepared various promotions, so we hope customers conveniently open pension savings accounts and receive benefits through the K Bank app.”