[Re-deposit Battle] ③ 'Korean Apple Account' Also Sells Out... Season 2 Coming Early Next Month

Sangjin Park, CEO of Naver Pay

Domestic big tech companies are receiving positive responses as their deposit products, developed in collaboration with commercial banks, continue to sell out. These products attract customers by offering higher interest rates than commercial banks and additional benefits such as extra point accumulation.

According to the financial sector on the 28th, Naver Financial will launch the demand deposit account 'Naver Pay Money Hana Account & Check Card Season 2' with Hana Bank in early next month. This account is especially being called the 'Korean version of the Apple Account' since Apple launched its Apple Card savings account in April. This is because the structure is similar, including the partnership between a big tech company and a financial institution and the feature of converting payment amounts into points when using the card.

The Naver Pay Money Hana Account Season 2 offers up to a 4% annual interest rate. The deposit limit is 2 million KRW. Additionally, it provides benefits such as up to 3% point accumulation when making online payments with Naver Pay and 1.2% Naver Pay points accumulation when using the Naver Pay Money Hana Check Card.

The Naver Pay Money Hana Account is a product that allows users to store prepaid Naver Pay Money in a bank account, enjoying both interest and point benefits from Naver Pay payments simultaneously. It has been designated as an innovative financial service by the Financial Services Commission. The Season 1, launched in November last year, sold out its supply limit of 500,000 accounts within six months, leading to an increase in the new account opening limit to 1 million accounts this year.

Internet-only banks, which have less competitive deposit interest rates compared to secondary financial institutions and commercial banks, are also attracting customers by introducing unique products. Kakao Bank's 'Record Account' is a product that allows users to save money while recording various moments. Users can set their own rules to save money along with records whenever their favorite celebrity performs a specific action.

Toss Bank offers a differentiated product called 'Fixed Deposit with Interest Paid First' compared to commercial banks. Unlike ordinary deposit products that pay interest at maturity, this product provides interest immediately upon subscription. It offers an annual interest rate of 3.5% with a maximum subscription limit of 1 billion KRW. However, the subscription period is short, either 3 or 6 months. According to Toss Bank, this deposit product continues to grow, with an average daily inflow of 32 billion KRW.

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