Toss Bank's 'Receive Interest Now' Surpasses 6.6 Billion Won in Just Two Days
410,000 Customers Receive an Average of 16,200 KRW
First Domestic Bank to Pay Daily Interest to Customers
Click 'Receive Interest Now' Once, Interest Deposited into Account
[Asia Economy Reporter Sim Nayoung] Toss Bank (CEO Hong Min-taek) has surpassed 6.6 billion KRW in just two days since launching the country's first "Receive Interest Now" service.
On the 18th, Toss Bank announced that as of 9 a.m. that day, customers had received a total interest amount of 6,655,760,000 KRW. Approximately 410,000 customers used the "Receive Interest Now" service, with the average interest received being about 16,200 KRW.
Since the 16th, Toss Bank has been providing a service allowing customers holding a "Toss Bank Account" to receive interest immediately once a day whenever they want. The "Toss Bank Account" is a demand deposit account offering a pre-tax annual interest rate of 2% (0.1% applied for amounts exceeding 100 million KRW), and Toss Bank is the first to introduce such a service.
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With just one click on "Receive Interest Now," customers can receive interest daily into their accounts instead of once a month. Since interest accumulates daily based on the remaining balance in a compound interest structure, it is advantageous to keep more money and receive interest daily.
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