Which Savings and Deposit Products Are Worth Investing Your Chuseok Bonus 'Ssamjitdon' In?

On the 8th, two days before Chuseok, the nation's biggest holiday, travelers are moving to board trains at Seoul Station. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Eunju Lee] Various savings and deposit products targeting those who are wondering where to deposit their pocket money, such as ‘bonus money’ or allowance received for Chuseok, have been released, drawing attention. Looking at savings banks and internet-only banks, there are numerous high-interest products with diverse themes.

OK Savings Bank is conducting a special sale of the 'Early Withdrawal OK Time Deposit 6' that guarantees the basic interest rate even if withdrawn early. If the holding condition is met for a maturity period of 6 to 12 months, a special interest rate of 3.5% per annum can be received. The special sale is limited to 200 billion KRW. The subscription amount ranges from a minimum of 100,000 KRW to a maximum of 100 million KRW. This product can be subscribed to through non-face-to-face channels such as branches, internet banking, and mobile banking.

Welcome Savings Bank has introduced the 'Welbang Walking Savings' offering up to 10% annual interest. This product is a ‘healthcare’ savings account that provides a preferential interest rate of up to 8 percentage points based on the number of steps counted during the contract period. Achieving a minimum of 1 million steps grants a 1 percentage point preferential interest rate, and achieving up to 5 million steps grants an 8% preferential interest rate. It is a 12-month single contract allowing savings of up to 200,000 KRW per month. For those who have resolved to exercise this Chuseok, subscribing to this product, which counts steps, is worth considering.

Youth who received Chuseok allowance should pay attention to KakaoBank’s 26-day savings product. KakaoBank launched the 26-day savings product in partnership with Baedal Minjok. KakaoBank mini is a prepaid electronic payment method available only to youths aged 14 to 18. Youths can store and transfer money even without a bank account.

The ‘KakaoBank mini 26-day savings’ automatically saves an amount from 500 KRW to 2,000 KRW daily for 26 days, allowing a maximum accumulation of 52,000 KRW. Each successful daily saving adds one ‘Niniz character’ on the 26-day savings service screen of the mobile application. Through the partnership with Baedal Minjok, users of the ‘26-day savings’ product receive gift certificates usable at Baedal Minjok.

It is worth aiming for the highest annual interest rate savings product. Gwangju Bank introduced the ‘Lucky Savings’ offering up to 13.2% annual interest. Like a lottery ticket, savings customers are assigned six lucky numbers every Monday until March 12, 2023, and a draw is held on Friday. Winning accounts receive a preferential interest rate of 10 percentage points annually. The basic interest rate is 3.2% per annum (1-year fixed installment savings), and if the lucky number is drawn, an event preferential interest rate of 10 percentage points is added, allowing a maximum interest rate of 13.2%. It can be subscribed to as a 12-month fixed installment or free installment savings, with a minimum subscription amount of 50,000 KRW and monthly savings up to 500,000 KRW.

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