Up to 5% Interest Rate... Welcome Savings Bank to Launch 'Welbanghaja Savings' at 10 AM on the 11th

[Asia Economy Reporter Kim Min-young] Welcome Savings Bank announced on the 9th that it will start selling the ‘Welbanghaja’ fixed deposit product, which offers an interest rate of up to 5% per annum, from 10 a.m. on the 11th.

Welcome Savings Bank stated that it launched the Welbanghaja fixed deposit product to provide better financial benefits to customers through high-interest products.

The product can be subscribed to via the bank’s mobile banking platform application Welcome Digital Bank (Welbang), as well as through internet banking and branch offices.

The basic interest rate is 1.5% per annum. If there are two or more CMS or Giro automatic payment transactions per month through the Welcome Savings Bank’s free deposit and withdrawal account during the contract period for at least six months, a preferential interest rate of 2.0 percentage points per annum will be granted. Additionally, if the average balance in the Welcome Savings Bank free deposit and withdrawal account is maintained at 500,000 KRW or more, an additional preferential interest rate of 1.5 percentage points per annum will be applied.

The subscription amount is up to 200,000 KRW per month, and the period is 12 months. Principal and interest will be paid together at maturity.

A representative from Welcome Savings Bank said, “We are pleased to offer higher financial benefits through the launch of the Welbanghaja fixed deposit product, which provides one of the highest interest rates among the fixed deposit products currently on sale.”

This content was produced with the assistance of AI translation services.