Busan Bank, "Preferential Interest Rates for Pet Owners"... Launches Pet Package Product

[Asia Economy Reporter Kim Min-young] BNK Busan Bank announced on the 11th that it has launched a customized financial product for pet owners called the ‘Pet Package.’

The Pet Package consists of ▲Pet Savings ▲Pet Card ▲My Pet Trust ▲Soho Premium Loans for self-employed individuals engaged in the pet industry.

The Pet Savings account is available to customers who own pets. It offers a maximum annual interest rate of 2.0%, combining the base rate and preferential rate. By maintaining a pet diary through mobile banking, customers can receive an additional preferential interest rate of up to 0.5 percentage points. Additional benefits are provided when submitting pet card usage records and animal registration certificates. This product allows monthly deposits of up to 500,000 KRW, with a choice of a 6-month or 12-month term.

The Pet Card includes various discount services for households raising pets. It offers a 10% discount when using veterinary clinics and pet shops. For social commerce, large supermarkets, and convenience stores, a 5% discount service is provided.

My Pet Trust is a family care trust product where pet owners can enter into a trust contract with Busan Bank during their lifetime and designate a post-beneficiary to care for their pets in case of the owner’s incapacity or death. Eligible applicants are individuals aged 19 or older, and the subscription amount ranges from a minimum of 1 million KRW to a maximum of 10 million KRW.

The loan product is specialized for small-scale individual business owners operating in the pet industry. The loan limit is up to 100 million KRW for businesses with more than one year of operation, and up to 70 million KRW for those with less than one year. The loan interest rate is preferentially reduced by up to 1.7 percentage points, starting from a minimum annual rate of 3.06%.

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