With the start of the new school semester, financial products for children are gaining popularity. This year, due to the ongoing low interest rate trend, banks have not released the high-interest deposit and savings promotions they usually offer at the beginning of the year. Instead, cards, fintech (finance + technology), and insurance products are attracting attention. These companies are launching new products and events packed with attractive benefits to secure loyal customers.

Park Jieun, an office worker in her 40s, recently issued a debit card for her son who is entering middle school this year. Her son wanted his own card because carrying the 'Umka' (Mom's Card) would make other kids tease him. Youth cards, which feature stylish designs and benefits tailored for students, have become the trend, replacing the once status-symbol Umka.

KB Kookmin Card's 'Ssoyoung Check Card' offers attractive discounts. If you spend over 50,000 won per month, you can receive up to 5,000 won in discounts. The discount applies to places frequently used by teenagers, such as study cafes, stationery stores, and convenience stores. Among youth credit cards, Samsung Card's 'ID Pocket Card' is popular. Linked to a parent's credit card, it offers up to 8% discounts at convenience stores, coffee shops, and more. The basic monthly spending limit is 100,000 won, but parents can adjust it up to 500,000 won if desired.

In the fintech sector, Toss's 'Youth Card' is representative. It is a prepaid card available for those aged 7 to 18. When you load money or points into the prepaid account, the amount is deducted upon payment. KakaoBank offers the 'Mini Card,' an allowance card for those aged 7 to 18. It allows deposits, withdrawals, online and offline payments, and T-money recharges. Users can hold up to 500,000 won and check their balance in real time through the application (app).

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Many parents also prepare insurance policies for their children at the start of the new semester. As children spend more time at school, away from the family, the risk of exposure to unexpected dangers such as illness or injury increases.

Samsung Life was the first in the industry to introduce a school violence coverage rider in 2020 through its 'Our Child Proper Growth Insurance.' If the insured suffers from school violence, 500,000 won is paid according to the decision of the School Violence Countermeasures Committee. This insurance also covers fractures, casts, hospitalization, and provides additional support for graduation and university tuition through special riders.

Hyundai Marine & Fire Insurance's flagship children's insurance is 'Good & Good Comprehensive Q for Children.' It covers critical illnesses such as multiple childhood cancers (leukemia, brain and central nervous system cancer, malignant lymphoma), eight major disabilities (visual, hearing, speech, physical, brain lesion, intellectual, autistic, and mental disabilities), and organ transplant surgeries. It also covers everyday risks children may face during their growth, such as school violence and vision correction.

KB Insurance offers 'KB Precious Child Insurance,' which provides physical and psychological protection for children. It includes riders for precocious puberty diagnosis, ADHD diagnosis, and severe tic disorder diagnosis.

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Participating in various events offered by financial companies is also a good way to manage increased spending at the start of the new semester. Shinhan Card is holding a prize draw event for users of the 'Edu Plan Plus' card. This card refunds up to 10% of payments at academies, study materials, and kindergartens based on the previous month's spending. If you meet conditions such as the number of tuition payments, you can receive a refund of up to 100,000 won. Shinhan Card is also running a school banking automatic payment event. Until June, if you newly apply for school banking card payments and make your first payment within two months of the application month, you will receive a 5,000 won refund per student.

KB Kookmin Card is running a cashback event through a draw for customers who set up automatic payments for elementary, middle, and high school fees and childcare payments at daycare centers until April 30. If you apply for automatic school fee payments with a KB Kookmin Card during this period, 1,021 winners will receive cashback. Until the 31st of this month, there is also a cashback benefit for families using daycare centers. Among customers who pay daycare vouchers with the KB Kookmin Happiness Card or KB Kookmin Child Happiness Card, 1,000 will be selected to receive a 10,000 won cashback. If the winner is making their first daycare voucher payment, they will receive a 30,000 won cashback.

NH Nonghyup Card is also running a new semester support event. If you register for automatic education fee payments with an NH Nonghyup personal card and make at least one payment, you will receive a GS25 5,000 won mobile coupon. Additionally, among those who receive the coupon, the first 100 customers will receive a cashback benefit on their first payment. Interest-free installment benefits are also available for university tuition payments. NH Nonghyup personal card customers who pay over 50,000 won in university tuition can receive 2-4 month interest-free installments or 5-10 month partial interest-free installments.