Shinhan Bank Launches Dadungi Win-Win Savings Account with Up to 8% Interest Rate

A Co-Prosperity Financial Product
Aimed at Overcoming Low Birth Rates

Shinhan Bank announced on the 24th that it has launched a new co-prosperity financial product to overcome low birth rates called the ‘Shinhan Dadungi Co-prosperity Savings Account.’

This product offers preferential interest rates to customers who contribute to overcoming low birth rates, such as those who get married, become pregnant (including infertility), give birth during the subscription period, and customers with multiple children (two or more). The subscription period is 12 months, and deposits of up to 300,000 KRW per month are allowed.

The interest rate is applied up to a maximum of 8.0% per annum, combining a basic interest rate of 2.5% per annum with preferential interest rates of up to 5.5 percentage points. The preferential interest rate items include 1.0% per annum for marriage, pregnancy (including infertility), and childbirth during the savings period; 1.5% per annum for two children and 2.5% per annum for three or more children based on minors born after 2007; 1.0% per annum for usage performance of the Seoul Dadungi Happiness Card (credit/debit); 1.0% per annum for receiving one of the parent allowance (welfare allowance), infant, childcare, or child allowance in a Shinhan Bank account under the customer’s name for more than six months; and 1.0% per annum for first-time transactions with Shinhan Bank.

The product limit is 100,000 accounts, and subscriptions are available through branches and Shinhan SOL Bank. When subscribing via the application (app), documents required to receive preferential interest rates can be submitted through scraping and photo capture.

A Shinhan Bank official said, “We launched this savings product to support customers preparing for childcare and families with multiple children and to contribute to overcoming low birth rates,” adding, “We will continue to expand various co-prosperity financial products and services that participate in solving social issues and will carry out our social responsibilities as a corporate citizen more responsibly.”