Shinhan Bank Offers 'Youth First Savings' Special Promotion with Up to 8% Annual Interest Rate... Limited to 100,000 Accounts

Preferred Interest Rate Item Increased from 3.0%P to 4.5%P

Shinhan Bank announced on the 7th that it will sell a special promotion “Youth First Savings” with a maximum interest rate raised to 8% per annum, limited to 100,000 accounts, to strengthen financial support for young customers ahead of its 42nd anniversary (July 7).

“Youth First Savings” is a product launched in February by Shinhan Bank as part of the “Livelihood Financial Support Plan” to help the younger generation build assets. Customers aged between 18 and 39 can subscribe, with a maturity period of one year and flexible monthly deposits up to 300,000 KRW. The previous maximum interest rate was 6.5% per annum.

The interest rate for the special promotion “Youth First Savings” is a base rate of 3.5% per annum plus a preferential rate of up to 4.5 percentage points (p.p.), totaling a maximum of 8.0% per annum. The preferential rates include ▲1.0 p.p. for receiving salary transfers or Salary Club pay slips for more than six months ▲0.5 p.p. for using a Shinhan Card (credit or debit) in the customer’s name for more than six months (payment account at Shinhan Bank) ▲0.5 p.p. for registering as a member of the Shinhan SuperSOL app ▲2.5 p.p. for “first-time customers” who have not held Shinhan Bank’s fixed deposits, savings, or housing subscription savings in the past year, and “maturity customers” who have matured or terminated Shinhan Youth Hope Savings. The preferential rates for “first-time customers” and “maturity customers” have been increased from 1.0 p.p. to 2.5 p.p. compared to the previous promotion.

Along with selling the special savings product, Shinhan Bank is running the “First Money-ful” event until the 31st, offering various prizes. The first 80,000 customers who subscribe to “Youth First Savings” during the event period will receive up to 80,000 MyShinhan Points through a roulette spin, and those who maintain a balance of 300,000 KRW or more until August 12 will receive a 10,000 KRW mobile coupon for CU convenience stores.

Additionally, customers who designate or change their payment account to the new Shinhan Card product for young customers, “Shinhan Card First,” and spend more than 30,000 KRW in the relevant month will receive a monthly cashback of 10,000 KRW (up to 20,000 KRW).

Furthermore, customers who meet both conditions will be entered into a draw to win various prizes including ▲MacBook Pro (1 winner) ▲LG StanbyMe (1 winner) ▲PlayStation 5 (1 winner) ▲Dyson Airwrap Styler Complete (1 winner) ▲Starbucks Americano (10,000 winners).

A Shinhan Bank official said, “Starting with this special savings product, we plan to launch a 42nd anniversary customer appreciation package that offers benefits to more customers,” adding, “We will continue to launch various products aligned with Shinhan Financial Group’s vision of ‘Easier, More Comfortable, and New Finance’ and create sustainable value recognized by customers and society.”

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