Saemaeul Geumgo's Highest Interest Rate 12% Yongyong Savings Account Surpasses 20,000 Subscribers

Saemaeul Geumgo announced on the 26th that its 'MG Hope Sharing Yongyong Savings Account,' offering an annual maximum interest rate of 12% to support overcoming low birth rates, surpassed 20,000 subscribers within three months of its launch.

Launched in April (limited to 50,000 subscribers), this product is a public interest product targeting those born in the Year of the Dragon in 2024 (including those born in December 2023). It offers a basic interest rate of 6% per annum and a preferential interest rate of 4% per annum. For a second child, the preferential interest rate is 5% per annum; for the third child or more, it is 6% per annum. In population decline areas, a preferential interest rate of 6% per annum is provided regardless of the number of children.

Kim In, Chairman of the Saemaeul Geumgo Central Association, said, “We send congratulations and support to those born in 2024, and Saemaeul Geumgo will contribute to overcoming the low birth rate crisis and fulfill its fundamental role as a regional financial cooperative.” He added, “We will continue to implement various support projects to solve the low birth rate issue amid the current national population emergency.”

Meanwhile, Saemaeul Geumgo has continuously promoted support projects to address social issues such as low birth rates and regional extinction. Since 2020, it has provided a birth congratulatory gift of up to 200,000 KRW per person to those opening their first lifetime bank account each year. In 2023, it sold a savings product offering a 10% annual interest rate targeting those born in the Year of the Rabbit. A total of 35,000 newborns subscribed, and 4.3 billion KRW in interest is expected to be paid this year. In the second half of this year, it plans to establish childcare facilities mainly in metropolitan and regional hub cities.