Shinhan Bank Signs Business Agreement with Military Mutual Aid Association to Launch 'Lump Sum Custody Loan'

Jin Ok-dong, President of Shinhan Bank (right), and Kim Yu-geun, Chairman of the Military Mutual Aid Association, are posing for a commemorative photo after signing a business agreement for the launch of the lump-sum deposit loan.

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 11th that it has signed a business agreement with the Military Mutual Aid Association to launch the 'Lump Sum Deposit Loan' for mutual aid members.

The Lump Sum Deposit Savings is a proprietary savings product operated by the Military Mutual Aid Association for its members, with maturities of 6 months, 1 year, and 2 years. Through the launch of the Lump Sum Deposit Loan, mutual aid members who have subscribed to the lump sum deposit will be able to receive loans up to 90% of their paid amount through Shinhan Bank without the need to prematurely terminate their lump sum deposit in case of urgent living expenses.

The Lump Sum Deposit Loan is scheduled to be launched in July at the request of the Military Mutual Aid Association for the welfare of its members. Through this product, the Military Mutual Aid Association expects to provide stable asset management for its members, and members will be able to manage their funds conveniently.

Kim Yoo-geun, Chairman of the Military Mutual Aid Association, said, "The Military Mutual Aid Association focuses on promoting the stability of life and welfare of soldiers and military personnel and developing various welfare systems," adding, "We will continue to cooperate with Shinhan Bank in various ways to improve the lives and welfare of our members."

Jin Ok-dong, President of Shinhan Bank, said, "We are pleased to launch a new financial product by joining hearts with the Military Mutual Aid Association," and added, "We hope this valuable partnership as a reliable partner for soldiers, military personnel, and the Military Mutual Aid Association will last for a long time."

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