Toss Bank Free Installment Savings Account With 5% Annual Interest Surpasses 100,000 Accounts in 9 Days

Toss Bank's Free Installment Savings Account surpassed 100,000 accounts just nine days after its launch. On August 21, Toss Bank announced that this equates to one account being opened every eight seconds.

According to Toss Bank, the installment savings product, introduced on August 9, offers an interest rate of up to 5% per annum, including preferential rates. The subscription period ranges from a minimum of 3 months to a maximum of 36 months. The monthly deposit limit is set at 3 million won, and customers can make additional deposits freely within this limit.

The base interest rate varies depending on the subscription period, but customers who subscribe for at least 12 months can receive a maximum annual interest rate of 5%, including preferential rates. Customers can also preview the exact amount of interest they will receive before signing up for the product.

This product has gained popularity among the MZ Generation (Millennials and Generation Z). Among customers who opened the Toss Bank Free Installment Savings Account, those in their 20s and 30s accounted for 58.6%. In particular, one out of three customers (32.3%) was in their 20s, representing a significant proportion.

A Toss Bank representative stated, "By eliminating all the 'complicated requirements' previously needed to receive preferential rates, we were able to achieve an exceptionally positive response from customers, especially among younger generations. We will continue to develop products from the customer's perspective and strive to offer the best possible benefits."

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