Financial Experiment Responds to Low Birth Rate... MG "Baby Snake Installment Savings Account" Sells Out

12% Interest Rate and Newborn Support Combined
99.6% of 50,000 Account Limit Sold Out

The financial sector has proposed an experimental solution to the structural crisis of low birth rates. The MG Hope Sharing Baby Snake Installment Savings Account, a specialized financial product for newborn support launched by the National Credit Union Federation of Korea in April last year, has effectively sold out in less than a year since its release, leading to the end of sales.

The Baby Snake Installment Savings Account was launched as a one-year fixed-term savings product with a total limit of 50,000 accounts.

Sales reached 49,803 accounts, surpassing the sales termination threshold of 49,000 accounts and achieving a sales rate of 99.6%.

It is evaluated that the combination of the policy message of overcoming low birth rates and the exceptional condition of a maximum annual interest rate of 12% drew strong market response.

The total contract volume formed through this product amounts to 114.1 billion won (monthly deposit amount × 12 months). Upon maturity, the interest to be paid to subscribers is approximately 6.44 billion won, providing substantial financial support to households with newborns, beyond the scope of a short-term financial product.

The National Credit Union Federation of Korea had previously introduced other financial products addressing low birth rates, such as the Kangchung Installment Savings Account in 2023 and the Yongyong Installment Savings Account in 2024.

Through these two products, 35,039 and 49,563 people respectively signed up, with cumulative interest payments reaching 10.66 billion won. This is significant in that it is expanding into a continuous financial support model rather than a one-off event.

Kim In, Chairman of the National Credit Union Federation of Korea, stated, "In 2026, we will continue our efforts to address social issues such as supporting newborns and revitalizing local businesses," and added, "We will fulfill our responsibilities and roles as a local community financial institution to contribute to the formation of a sustainable community."

In the trend of finance expanding its role beyond profit generation to social value, the sell-out of the Baby Snake Installment Savings Account remains a symbolic milestone. This case demonstrates that when policy objectives and financial design align in the face of the national challenge of low birth rates, it is possible to generate both market enthusiasm and tangible results.