Welcome Savings Bank Launches 'Retirement Pension Fixed Deposit' Product... Up to 2.55% Annual Interest

[Asia Economy Reporter Song Seung-seop] Welcome Savings Bank will start selling the ‘WELCOME Retirement Pension Fixed Deposit’ from the 24th.

The product is available to companies and employees enrolled in retirement pensions, specifically for customers managing dual defined contribution (DC) plans and individual retirement pensions (IRP). It is planned to be expanded later to customers with defined benefit (DB) plans. Enrollment is possible through Mirae Asset Securities.

Welcome Savings Bank states that it currently offers an industry-leading interest rate of 2.55% per annum. The subscription limit is up to 50 million KRW when managed through DC or IRP accounts. The term is 12 months, and interest is paid in a lump sum at maturity.

To supply this retirement pension product, Welcome Savings Bank obtained a Triple B Plus (BBB+) rating from NICE Credit Rating in June. The bank plans to enhance its competitiveness in the retirement pension market by expanding partnerships with related institutions in the future.

A representative from Welcome Savings Bank emphasized, “We have launched a high-interest retirement pension product for our customers’ retirement security,” adding, “We will continue to provide various financial products and services.”

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