"Over 600 Savings and Deposit Interest Rates at a Glance"…KakaoPay Launches Comparison Service
Expected Interest Calculation... Loan Comparison Area to Be Expanded Soon
[Asia Economy Reporter Minwoo Lee] KakaoPay will allow users to compare savings and fixed deposit interest rates not only from major banks but also from regional banks and savings banks.
KakaoPay announced on the 13th that it has launched this service. Through the Financial Supervisory Service's Open API, users can compare interest rates of over 600 fixed savings and deposit products from 97 financial institutions.
The service also added features to find products based on various classification settings such as term, preferential interest rates, interest rate types, non-face-to-face subscription availability, and display order. Additionally, it provides interest rate trend information by comparing the highest publicly announced interest rates from last month and this month, indicating the rate of increase or decrease. For users planning to subscribe, a 'Deposit Product Notification' alert service is also offered.
An interest calculator is provided to help estimate actual expected earnings. On the main page of the savings and deposit interest rate comparison service or on the detailed page of a selected product, users can input their desired period and target amount to receive information on the highest interest rate and the interest they will earn.
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This comparison service is available on KakaoTalk Pay Home or the KakaoPay application (app). The comparison scope will be expanded to include loan products in the future. A KakaoPay official stated, "With the recent rise in the base interest rate, user interest in savings and deposit products has surged, but it has been difficult to find products that meet desired conditions among numerous options," adding, "We hope customers can easily and conveniently compare interest rates and select suitable products through KakaoPay."
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