Shinhan Bank Launches 'Shinhan TossPay Savings'... Up to 4.5% Annual Interest

Shinhan Bank announced on the 3rd that it has launched the ‘Shinhan Toss Pay Savings,’ which offers preferential interest rates to customers using the simple payment service ‘Toss Pay’ in collaboration with Viva Republica Co., Ltd.

The Shinhan Toss Pay Savings is a 6-month maturity flexible savings account that allows deposits of up to 300,000 KRW per month. The interest rate is up to 4.5% per annum, combining a basic rate of 2.0% per annum with a preferential rate of 2.5 percentage points per annum.

The preferential interest rates include ▲0.5 percentage points for customers who have not held any Shinhan Bank deposit or savings products in the year prior to signing up for the product, and ▲0.5% per month up to a maximum of 2.0 percentage points per annum for customers who register Shinhan Bank as a linked account and make at least one Toss Pay payment or recharge per month.

This product is exclusively linked to Toss Pay and can be subscribed to by accessing the ‘Shinhan SOL Bank’ application through the Toss app. It will be sold up to a limit of 200,000 accounts until the end of June 2025.

To commemorate the launch of this savings product, Shinhan Bank is also holding an event for new customers. All customers who subscribe to the Shinhan Toss Pay Savings will receive 2,000 Toss Points, with an additional 1,500 points awarded upon reaching a savings balance of 300,000 KRW, and 1,000 points for maintaining the savings for 3 months, providing up to 2,500 Toss Points in total.

A Shinhan Bank official stated, “This savings product was designed in collaboration with Toss Pay to allow customers to easily receive preferential interest rates without complicated conditions,” adding, “We will continue to develop various partnership products and services that provide new experiences to our customers.”