Sold Out in Two Days... Inbaeng's 3-5% Annual Savings Account Gains Popularity

[Asia Economy Reporter Buaeri] Internet-only banks are gaining popularity by launching savings products with high interest rates.

According to the financial sector on the 19th, K-Bank has been offering a special promotion providing a 5% annual interest rate to subscribers of the 'CodeK Freedom Savings' limited to 100,000 accounts since the 17th. The previous special promotion, which was limited to the first 10,000 accounts on the 1st, sold out in just two days, far exceeding 100,000 accounts.

The CodeK Freedom Savings has a subscription period of 3 years, and up to 300,000 KRW can be deposited monthly. The basic annual interest rate is 3%, but with interest rate discount coupons applied, the maximum annual interest rate of 5% is available.

It is especially popular among the younger generation through word of mouth. Among all subscribers to the CodeK Freedom Savings event, 73% were in their 20s and 30s. With women making up 74%, it is analyzed that the product gained popularity mainly among young women. According to K-Bank, new customers increased about threefold compared to usual due to word of mouth on online platforms such as investment cafes.

Toss Bank also surpassed 100,000 cumulative account openings within three days of launching the 'Grow Savings' on the 14th. This product offers a maximum annual interest rate of 3% if the maturity period of 6 months is completed. The deposit limit is up to 1,000,000 KRW per month, and deposits can be made weekly from 1,000 KRW to 200,000 KRW.

Toss Bank included a maximum of six emergency withdrawal functions during the subscription period. However, a minimum balance of 10,000 KRW must be maintained. Withdrawals are made starting from the most recently deposited amount to maximize the interest customers receive. Additionally, even if the account is terminated early, an interest rate of 1% per annum is provided.

Elements that appeal to the MZ generation were also added. When subscribing to 'Grow Savings,' an animal egg is given, which hatches the next day to reveal the animal. Account nicknames can be set, allowing users to name their animal friend or set savings goals.

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