Shinhan Bank Launches 'Shinhan 11th Street Time Deposit' with Up to 3.3% Annual Interest

[Asia Economy Reporter Kim Hyo-jin] Shinhan Bank announced on the 1st that it has launched the 'Shinhan 11st Fixed Deposit,' which offers preferential interest rates and rewards in collaboration with '11st Shinhan Card.'

The Shinhan 11st Fixed Deposit is a 3-month product that can be subscribed to with a minimum of 500,000 KRW and a maximum of 3,000,000 KRW. Subscription is available through Shinhan Bank's mobile app SOL and mobile web channels, with a total of 100,000 accounts sold on a first-come, first-served basis.

The basic interest rate is 0.8% per annum, and a preferential interest rate of 0.3% per annum is provided for new subscriptions to the Open Banking service. If customers make their first payment of 110,000 KRW or more using the '11st Shinhan Card,' an additional 2.2% per annum reward is paid at maturity, allowing for a maximum benefit of 3.3% per annum.

Additionally, among customers who subscribe to the Shinhan 11st Fixed Deposit, those who make their first regular payment for '11st ALL PRIME' using the 11st Shinhan Card will receive 'SK pay point' rewards equivalent to the amount of their first payment.

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