Hana Bank Launches 'Hanadeo Soho Merchant Savings' with Up to 8% Annual Interest
Exclusive Product for Individual Business Owners... Limited to 30,000 Accounts
Special Early Termination Interest Rate Applied Even Before Maturity
Hana Bank announced on the 4th that it has launched a win-win financial product for individual business owners to secure stable business funds, called the 'Hanadeo Soho Merchant Savings Account.'
The 'Hanadeo Soho Merchant Savings Account' is the first financial product under Hana Bank's small business finance specialized brand 'Hanadeo Soho.' It is an exclusive product for individual business owners that offers up to an 8% annual interest rate based on the card merchant payment deposit performance.
Limited to 30,000 accounts, the subscription amount for the 'Hanadeo Soho Merchant Savings Account' ranges from a minimum of 10,000 KRW to a maximum of 300,000 KRW per month, with a contract period of one year. The applied interest rate is a maximum of 8.0% per annum, combining a basic interest rate of 2.0% per annum and a preferential interest rate of up to 6.0% per annum. The preferential interest rate includes ▲ 2.0% per annum for maintaining merchant deposit performance for more than six months ▲ up to 4.0% per annum depending on the number of card companies depositing merchant payments.
Additionally, even before the maturity of the savings account, in cases of early termination for purposes such as ▲ purchasing business premises ▲ paying lease deposits ▲ paying value-added tax and income tax, the basic interest rate at the time of new subscription will be applied to support the stable lump-sum fund preparation of the business owner.
Jeon Byung-woo, Head of Corporate Business Division at Hana Bank, stated, "We launched the Hanadeo Soho Merchant Savings Account to provide practical financial benefits to small business owners facing difficulties amid economic uncertainties." He added, "Hana Bank will continue to do its best to serve as a reliable partner standing by business owners throughout local commercial districts by offering customized support projects that empower and assist small business establishments."
Going forward, Hana Bank plans to continue launching various products and services under the small business finance specialized brand 'Hanadeo Soho' to support the successful future of small business owners in South Korea.
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Meanwhile, Hana Bank is practicing various win-win financial initiatives for small business owners, including 'Toss Place Payment Terminal Purchase Support' for initial growth support of newly established individual businesses, 'Hanadeo Special Customized Consulting Service' that shares the secrets and know-how of master merchants with business owners, 'Card Merchant Deposit Account Change Application Service' that easily supports changing merchant sales deposit accounts, and 'Free Cyber Financial Crime Compensation Insurance Support' to ensure safe transactions for busy business owners.
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