Shinhan Launches 'MyPlus Fixed Deposit' with a Top Annual Interest Rate of 3.95%

Up to 100 Million KRW with Preferential Interest Rate Included at 3.95%

Shinhan Bank announced on the 30th that it has launched a time deposit product called ‘Shinhan My (My) Plus Time Deposit,’ offering an interest rate of up to 3.95% per annum.

This product offers an interest rate of up to 3.95% per annum, including a preferential interest rate of 0.2% per annum based on a 12-month maturity. Any individual customer can open one new account, with a minimum deposit of 500,000 KRW and a maximum of 100 million KRW.

The preferential interest rate consists of a total of 0.2%, including ▲0.1% for customers who have not held a time deposit in the past six months when subscribing to the product, and ▲0.1% when depositing 500,000 KRW or more into a Shinhan Bank checking or savings account during the deposit period. Transfers between the customer’s own Shinhan Bank accounts are excluded when depositing 500,000 KRW or more. For products with a maturity of three months or less, the preferential rate applies after one deposit, and for products with a maturity of six months or more, it applies after three or more deposits.

A Shinhan Bank official said, “We launched this product to allow many customers to benefit from preferential interest rates under easy conditions,” adding, “We will continue to develop various products that help customers build their assets.”

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