OK Savings Bank Launches One-Month Installment Savings with CU Offering Up to 22% Annual Interest

Base annual rate of 4%
Up to 22% with daily check-ins and maturity closure

OK Savings Bank announced on May 19 that it is launching a new installment savings product, "CUxOK Attendance Savings," in partnership with CU, the convenience store chain operated by BGF Retail. The product offers a maximum annual interest rate of 22% along with a CU subscription promotion.

This is an ultra-short-term, non-face-to-face installment savings product where customers can choose to deposit either 5,000 KRW or 10,000 KRW daily for 31 days. A key feature is that the more frequently customers check in daily via the OK Savings Bank mobile app during the subscription period, the higher the preferential interest rate they can receive.

The base interest rate is 4% per annum. If customers make all 31 deposits and close the account at maturity, they receive an additional 4 percentage points as a preferential interest rate. Furthermore, by checking in daily on the OK Savings Bank mobile app, customers can receive up to an additional 14 percentage points in preferential interest.

OK Savings Bank will provide a CU ready-meal subscription promotion code to customers who meet all the preferential interest rate conditions.

By using this code, customers can purchase ready-meal items such as triangle kimbap, sandwiches, hamburgers, and carbonated drinks at CU convenience stores at a 10% discount for one month.

Any individual customer who receives the subscription code via CU's own commerce app, "Pocket CU," is eligible to sign up for the savings product.

Detailed information about the savings product and promotion is available on the OK Savings Bank mobile app and official website.

An OK Savings Bank representative stated, "By partnering with CU, a leader in the 2030 trend, and with OK Savings Bank's dedication to launching new deposit products, we have developed a product that combines the industry's highest interest rate with a convenience store subscription. We plan to continue introducing customized financial products through collaborations with various lifestyle-oriented companies."