KakaoBank '26-Week Savings' Surpasses 20 Million Accounts Accumulated

KakaoBank's '26-Week Savings' has surpassed 20 million cumulative account openings five years after its launch.

According to KakaoBank on the 4th, the 26-Week Savings, launched in June 2018, saw over 5 million new accounts opened last year, and an additional 3.8 million accounts opened this year, reaching a total of 20 million cumulative accounts.

The 26-Week Savings is a savings product where the weekly deposit amount increases by the initial subscription amount each week. The initial subscription amount can be freely chosen from 1,000 KRW, 2,000 KRW, 3,000 KRW, 5,000 KRW, or 10,000 KRW. For example, if 1,000 KRW is selected, the first week’s deposit is 1,000 KRW, the second week’s is 2,000 KRW, the third week’s is 3,000 KRW, and so on, automatically increasing over 26 weeks. The base interest rate is 3.50% per annum, and if deposits are successfully made via automatic transfer for 26 weeks, a preferential interest rate of 3.50 percentage points is applied.

As of the end of July, the age distribution of customers subscribing to the 26-Week Savings was 24.9% under their 20s, 27.8% in their 30s, 30.6% in their 40s, and 16.7% aged 50 and above. Initially, the product was popular among customers in their 20s and 30s who used spare change for financial planning, but as various partner savings products with multiple affiliated companies were launched, the customer base expanded to all age groups including those in their 40s and 50s.

Meanwhile, the cumulative number of accounts opened for the 'Partner Savings,' which collaborates with various industry partners such as E-mart, has reached 4 million.

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