Up to 5% Interest and Corporate Support Funds... Hana Bank Launches Preferential Savings Deduction for SME Employees

Hana Bank - Ministry of SMEs and Startups, MOU on 'Preferential Savings Deduction for SME Employees'
Scheduled for October Launch... 5-Year Subscription Period

Hana Bank announced on the 19th that it has signed a business agreement with the Ministry of SMEs and Startups to launch the 'Savings Deduction for Employees of Small and Medium Enterprises (SMEs).' This is a policy financial product designed to support asset formation for employees of SMEs.

The Savings Deduction for Employees of SMEs is a policy project led by the Ministry of SMEs and Startups to alleviate the manpower shortage in SMEs. It is a policy financial product scheduled to be launched in October through public-private cooperation with the Korea SMEs and Startups Agency, which manages the SME employee deduction program.

Hana Bank participated in this project to contribute to resolving the manpower shortage in SMEs by promoting stable asset formation and long-term employment for SME workers, and was finally selected as the financial institution to operate the product.

The subscription amount can range from 100,000 KRW to 500,000 KRW, with a subscription period of 5 years. The interest rate consists of a base rate of 3.0% plus a preferential interest rate of up to 2.0% per annum, allowing for a maximum annual rate of 5.0%. Additionally, each month, the SME where the employee works will contribute an extra 20% of the employee’s own payment as a corporate support fund.

Participating SMEs will receive corporate tax reduction benefits on the corporate support funds. Along with this, Hana Bank plans to provide various preferential benefits and financial services such as fee and exchange rate discounts for participating companies, interest rate reductions, and group accident insurance.