Gwangju Bank Launches 'Select Challenge Savings' Allowing Customers to Choose Their Own Preferential Interest Rate Conditions

Practical, Consumption, Loyal, and Challenge Types

Gwangju Bank has launched a selective installment savings product called 'Select Challenge Savings,' which allows customers to choose preferential interest rate conditions themselves. Photo by Gwangju Bank

On January 6, Gwangju Bank announced the launch of its new selective installment savings product, 'Select Challenge Savings,' to celebrate the New Year. The product offers a 'lucky interest rate' to customers born in the same zodiac year as the year of account opening, and allows customers to choose their own preferential interest rate conditions.

'Select Challenge Savings' is designed by combining a 'common preferential interest rate (lucky interest rate)' with a 'selective preferential interest rate,' reflecting customers' transaction patterns and financial usage tendencies. A key feature is that customers can select one type of preferential condition from several options presented, allowing them to receive a preferential interest rate best suited to their needs.

First, the 'common preferential interest rate (lucky interest rate)' offers an annual preferential rate of 0.50 percentage points to customers born in the same zodiac year as the account opening year. For the 'selective preferential interest rate,' customers can choose from types such as Practical, Consumption, Loyal, or Challenge. Depending on the selected type, a maximum annual preferential rate of 2.00 percentage points is available.

The Practical type is for customers with salary, pension, or business income, and provides preferential rates based on everyday financial transactions such as salary transfers or MyData asset linkage. The Consumption type is intended for customers who frequently travel or spend, with preferential rates applied based on overseas remittance, foreign currency exchange records, or Gwangju Bank debit and credit card usage.

The Loyal type targets customers who use Gwangju Bank as their main bank, offering preferential rates based on long-term transaction records or average balances in demand deposit accounts. The Challenge type is designed for customers opening their first account with Gwangju Bank, allowing them to receive a preferential rate if they meet the required balance condition at maturity.

'Select Challenge Savings' is a regular installment savings product, allowing monthly deposits between 100,000 won and 1,000,000 won, with a contract period of 12 months. The base interest rate is 1.80% per annum (before tax), and customers can receive up to 4.30% per annum if they qualify for both the lucky interest rate of 0.50% per annum and the maximum selective rate of 2.00% per annum.

Customers can sign up for the product not only by visiting a nearby branch, but also conveniently through smart banking and the mobile web. Detailed information about the product is available on the Gwangju Bank website or through the customer center.

To commemorate the product launch, Gwangju Bank President Jeong Ilseon, who became the first subscriber, stated, "This new product is designed to mark the New Year by offering a lucky interest rate to customers born in this year's zodiac, and to allow customers to receive preferential benefits according to the type they choose themselves. We plan to continue expanding customer-participatory financial products in the future."