KakaoPay and Jeonbuk Bank Launch 'Walking Savings'... Up to 7% Annual Interest

If 10,000 Steps Are Difficult... Exemption Possible for Up to 10 Days

Kakao Pay announced on the 8th that it will launch a healthcare savings product called 'Walking Savings' in collaboration with Jeonbuk Bank, offering an annual interest rate benefit of up to 7% through the habit of walking.

Walking Savings is a 6-month maturity product that provides a basic annual interest rate of 1%. By completing all walking missions using Kakao Pay's pedometer service, users can receive interest benefits of up to 7% per year. Savings can be made within a monthly limit of 50,000 to 300,000 KRW, and the product is limited to 20,000 accounts.

The walking missions are divided into 'weekly walking' and 'daily walking.' If a total of 42,000 steps or more is achieved in a week, a preferential interest rate of 0.1% per week is provided, resulting in a maximum annual interest benefit of 2.4%. Additionally, if the daily walking mission of 10,000 steps is completed for a total of 168 days starting the day after the savings account is opened, a preferential interest rate of up to 3.6% per year is granted. The preferential interest rate is applied at maturity.

For users who find it difficult to walk 10,000 steps daily, up to 10 exemption tickets are provided. Exemption tickets are issued once per month when transferring 100,000 KRW or more in a single transaction to a Jeonbuk Bank KRW deposit and withdrawal account via Kakao Pay's remittance service. Maintaining a balance of 500,000 KRW or more in the Jeonbuk Bank KRW deposit and withdrawal account grants 1 exemption ticket, and a balance of 1,000,000 KRW or more grants 2 exemption tickets. Up to 3 exemption tickets can be issued per month, with a maximum of 10 tickets over 5 months.

To commemorate the launch of the new product, an event will also be held. When signing up for the savings and making the first deposit on the same day, 1,000 Kakao Pay Points will be awarded before the end of the following month. These points can be used like cash when paying with Kakao Pay at online and offline merchants. Cash withdrawal is not possible.

A Kakao Pay representative said, “We hope this product will be an opportunity for users, who may neglect health management due to the summer rainy season and heat, to develop a healthy walking habit while also saving a lump sum at once.” They added, “We will continue to create fresh products that users can feel the benefits of, based on Kakao Pay’s unique data and technology, through various collaborations with commercial banks and other financial companies.”

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