Special Preferential Interest Rates for Prospective Farmers... 'NH Nongchonro Savings'
NongHyup Bank NongHyup 60th Anniversary Event
[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank is operating the 'NH Nongchonro Savings' to celebrate the 60th anniversary of Nonghyup's founding, aimed at revitalizing return-to-farming and return-to-village movements and helping prospective farmers secure funds for settling in rural areas.
The 'NH Nongchonro Savings' can be subscribed to at regional agricultural and livestock cooperatives and Nonghyup Bank branches nationwide. The subscription is available to individuals without age restrictions, with only one account allowed per person.
The subscription period can be chosen annually among 1, 2, or 3 years. The subscription amount must be at least 10,000 KRW per installment and can be freely paid up to 2 million KRW per month. The basic interest rate applies the 'Free Preferential Savings' base rate, offering 0.6% per annum for 1-year, 0.65% per annum for 2-year, and 0.7% per annum for 3-year terms (all before tax).
Additionally, there are special benefits for prospective farmers. First, preferential interest rates are provided upon presenting verification documents at maturity for each of the following: ▲ Signing up on the Return-to-Farming and Return-to-Village Comprehensive Center website (0.2% points) ▲ Completing more than 10 hours of agricultural-related education for return-to-farming and return-to-village preparation (0.3% points) ▲ Newly joining as a member of a local agricultural or livestock cooperative (1.5% points). The maximum limit for preferential interest rates is 2% points.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- $800 Million Oil Trades Just Before Trump Announcement... U.S. Authorities Launch Investigation
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
An official from Nonghyup Bank stated, "In response to the increasing interest in return-to-farming and return-to-village among urban residents due to COVID-19, policies to revitalize these movements are continuously being promoted. We will actively respond to the expected increase in return-to-farming and return-to-village policies influenced by COVID-19 through the launch of products that embody Nonghyup's unique identity and characteristics."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
