K Bank Surpasses 1 Million Lifestyle Accounts in Just 5 Months Since Launch

Up to 3 Million KRW per Month with 3% Annual Interest Rate Applied, etc.

K Bank announced on the 24th that its "Saenghwal Account" offering various benefits has surpassed 1 million accounts. According to K Bank, the account is gaining popularity due to its convenience for deposits and withdrawals as well as its high interest rate benefits.

According to an internal survey of Saenghwal Account customers, the satisfaction score is 4.2 out of 5. Customers cited two main advantages of the Saenghwal Account: high interest rates and differentiated benefits such as subscription fee refunds, along with convenience.

This account reflects the nature of frequent deposits and withdrawals for living expenses by enhancing convenience and autonomy, while offering a high interest rate of 3% per annum on balances up to 3 million KRW. According to data from the Korea Federation of Banks, this is the only account that provides free deposits and withdrawals without any conditions and offers a 3% annual interest rate up to a limit of 3 million KRW.

There is also a benefit of receiving subscription fee refunds. If an average monthly balance of 3 million KRW is maintained in the Saenghwal Account, the monthly subscription fees for Coupang Wow Membership (4,990 KRW) and Naver Plus Membership (4,900 KRW) are waived. Applications are accepted until the 31st of this month, and subscription fee cashback benefits can be received for up to 6 months. If 3 million KRW is kept in the account for one month, the annualized benefit including 3% interest (7,500 KRW) and the monthly subscription fees amounts to an effective 5% annual interest benefit.

A K Bank representative said, “The Saenghwal Account has gained high popularity as a free deposit and withdrawal account offering 3% interest up to 3 million KRW along with subscription fee cashback benefits,” adding, “We will continue to develop products and services focused on customer convenience and benefits.”

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