KakaoBank Expands Parking Account 'SafeBox' Limit to 100 Million KRW
[Asia Economy Reporter Kiho Sung] KakaoBank announced on the 12th that it will increase the limit of its parking account, Safe Box, from the existing 10 million KRW to a maximum of 100 million KRW.
Safe Box offers an annual interest rate of 0.8% even if deposited for just one day, and allows easy separation and management of balances within the account’s safe. The stored money cannot be directly withdrawn via check card payments or transfers to other accounts, ensuring safe storage and helping to cultivate saving habits, making it a useful product. Last month, KakaoBank raised the basic interest rates on savings and deposits by 0.3 to 0.4 percentage points, adjusting the Safe Box interest rate to 0.8% per annum.
Only one Safe Box can be opened per KakaoBank deposit and withdrawal account, and Safe Box can also be set up within group accounts.
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A KakaoBank official stated, “We increased the Safe Box limit to provide differentiated customer benefits.”
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