SBI Savings Bank Offers Up to 2.9% Savings Accounts for Customers Aged 65 and Over with Grandchildren

[Asia Economy Reporter Kim Min-young] SBI Savings Bank announced on the 11th that it has launched the 'Grandchild Love Installment Savings' product.

This product is sold only at 20 branches nationwide to customers aged 65 and older, and is designed to help grandparents plan various funds such as education expenses and pocket money needed as their grandchildren grow up without financial burden.

The product offers a high interest rate of up to 2.6% per annum to help customers save a lump sum, and provides a preferential interest rate of 0.3 percentage points for seniors aged 65 or older who have grandchildren. The subscription amount ranges from 100,000 KRW to 500,000 KRW per month, and the subscription period is between 12 and 36 months. It is sold with a limit of 50 billion KRW.

An SBI Savings Bank official stated, “With the recent increase in dual-income couples and low birth rates, grandparents are increasingly involved in childcare. This product was launched to provide grandparents with a sense of fulfillment and joy, and to offer practical support needed for grandchildren as they grow.”

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