Collaboration with Shinhan Card Offers Maximum Benefits with Preferential Interest Rates
Up to 8% Annual Interest, Choice of 6-Month or 12-Month Maturity Products
The National Credit Union Federation of Korea (NACUFOK) announced on the 5th that it will launch the 'Plus Fixed Deposit Savings' product, offering an annual interest rate of up to 8.0% in collaboration with Shinhan Card.
The 'Plus Fixed Deposit Savings,' a representative high-interest specialized product of NACUFOK, was first launched in October 2020 and is now in its 9th edition this year.
This 9th edition product offers a maximum annual interest rate of 8.0%, applying a base interest rate of 3.0% plus a preferential interest rate of 5.0%. The product is available in two types: ▲a 6-month term with a maximum deposit of up to 600,000 KRW, and ▲a 12-month term with monthly deposits ranging from 10,000 KRW to a maximum of 300,000 KRW. The subscription period is 8 months, from March 4 to October 31, and only one account per person is allowed.
An additional preferential interest rate of 4.5% applies only to customers who ▲issue a Shinhan Card-NACUFOK partnership card for the first time, ▲have an expired Shinhan Card validity period, ▲have had no Shinhan Card usage for more than 6 months, or ▲have passed 90 days after canceling their Shinhan Card membership.
The conditions for applying the preferential interest rate are ▲for the 6-month term product, customers who have agreed to all marketing consents and have spent at least 100,000 KRW in total monthly usage for 3 or more months within 4 months including the month of subscription, and ▲for the 12-month term product, customers who have agreed to all marketing consents and have spent at least 100,000 KRW in total monthly usage for 5 or more months within 8 months including the month of subscription will receive an additional 4.5% preferential interest rate.
Additionally, ▲registering a NACUFOK personal free deposit and withdrawal account as the payment account for the Shinhan Card-NACUFOK partnership card grants 0.2%, ▲registering an automatic transfer for the Plus Fixed Deposit Savings from a NACUFOK free deposit and withdrawal account and making at least two-thirds of total payments via automatic transfer grants 0.2%, and ▲transferring a monthly salary of 500,000 KRW or more continuously for 3 months from the subscription month to the second month before maturity grants 0.1%, providing a total additional interest benefit of 0.5%.
The Shinhan Card-NACUFOK partnership card consists of a total of 7 types, and the 'NACUFOK-Shinhan Simple+ Card' featuring a NACUFOK-exclusive design is scheduled for release in April.
Hwang Dong-ho, General Manager of the General Affairs Headquarters at NACUFOK, stated, "The Shinhan Card-linked Plus Fixed Deposit Savings product offers an annual interest rate of up to 8%, providing broad benefits from young adults to the elderly. We hope this high-interest special product will offer practical help in asset formation for ordinary citizens."
Meanwhile, the NACUFOK Plus Fixed Deposit Savings can be checked and subscribed to not only by visiting NACUFOK branches but also through non-face-to-face channels such as 'ON Bank' and 'Leon Branch.' Inquiries about Shinhan Card issuance and usage can be made through the Shinhan Card Customer Center.
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