"5~10% Annual Savings? Here's Where 'Uri Ai Sebaetdon' Went This Time [Aldon Sseuljap]"

Banks Introduce High-Interest Savings Products to Address Low Birth Rate
Annual Interest Rates Up to 10% with Various Preferential Conditions Applied

As interest rates begin to decline and high-interest savings and time deposits gradually disappear, there is still a savings product offering interest rates in the 10% range. Although various preferential interest rates must be applied to receive an annual maximum interest rate of 10%, considering that the average interest rate for savings and time deposits is around 2%, this is undoubtedly an attractive interest rate condition. Especially for parents with children, this is an opportunity not to be missed. How about signing up for 'this savings product' that can help children develop a habit of saving and also accumulate a lump sum?

Taking a 50,000 won bill out of the wallet. Pixabay

One might think this is a savings product from a secondary financial institution like a savings bank, but that is incorrect. The protagonist is KB Kookmin Bank's 'KB I Sarang Savings.' It boasts the highest interest rate among commercial banks, with a maximum annual rate of 10%.

Of course, it is not easy to receive the full 10% without applying various preferential interest rates. The basic interest rate is 2% per year, and depending on the number of children, up to 4% points are added if there are four or more children. Additionally, if child allowance payments are received into a KB Kookmin Bank account, up to 3% points per year are added, and for recipients of basic livelihood security, single-parent families, or persons with disabilities, an additional 1% point preferential interest rate is applied. The maximum monthly deposit amount is 300,000 KRW, and the product has a 12-month term.

There is also a product in the primary financial sector offering up to an 8% annual interest rate. This is Hana Bank's 'Hana I Kium Savings.' Similarly, the monthly deposit limit is up to 300,000 KRW, and the term is 12 months. The basic interest rate is 2% per year, with preferential interest rates of up to 4% points per year for commitments such as the I Future Keeper pledge. For families with three or more children, a preferential interest rate of up to 2% points per year is applied.

Additionally, Busan Bank and Gyeongnam Bank offer savings products with maximum annual interest rates of 8%. Busan Bank's 'BNK Baby Angel Savings' and Gyeongnam Bank's 'Hi Baby Savings' allow deposits up to 300,000 KRW per month.

Busan Bank's 'BNK Baby Angel Savings' has a basic interest rate of 2% per year, with preferential interest rates of 4.50% points for the first childbirth during the subscription period, 5% points for the second childbirth, and 5.50% points for the third or more childbirths.

'Hi Baby Savings' offers a basic interest rate of 1.45% per year, with preferential interest rates of 1.50% points for two or more children and 2% points for three or more children. Additionally, if at least one of the parent salary, child allowance, or childcare allowance is deposited, a 2% point preferential interest rate is granted.

If meeting the preferential interest rate conditions is cumbersome, Toss Bank's 'Toss Bank I Savings' is recommended. It offers a basic interest rate of 3% per year and a maximum interest rate of 5.5% per year. It is relatively simple as it only requires automatic transfers without complicated preferential interest rate conditions. However, the maximum monthly deposit amount is 200,000 KRW, which is lower than other products. The term is 12 months.