Shinhan Bank Launches Banking Sector's First 'Non-face-to-face Trust-type ISA' New Subscription Service

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 24th that it will implement the first non-face-to-face trust-type Individual Savings Account (ISA) subscription service in the banking sector.

The eligibility for the non-face-to-face trust ISA is residents aged 19 or older who are Korean nationals, with a mandatory subscription period of 3 years. Subscriptions can be made through video consultation on Shinhan SOL.

The trust-type ISA is a tax-saving comprehensive management product that operates multiple financial products such as deposits, savings, growth index funds (ETFs), and funds within one account while providing tax-exempt benefits. Within the annual payment limit of 20 million KRW, up to 2 million KRW of operating income is tax-exempt, and income exceeding 2 million KRW is subject to separate taxation at 9.9% (including local income tax).

Additionally, to commemorate the launch of the non-face-to-face trust-type ISA service, the event "Trust-type ISA, Please Save Taxes" will be held until the 15th of next month.

During this event period, Shinhan Bank will provide Starbucks dessert set gifticons (300 people) by lottery to new customers subscribing to the non-face-to-face trust-type ISA. Customers who newly subscribe with 300,000 KRW or more will be entered into a lottery to win massage chairs (2 people), department store gift certificates (20 people), and chicken gifticons (100 people).

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