'Up to 4.5% Interest' Preferential Savings Deduction for SMEs Launches 3-Year Product
Launching on the 25th... "Broader Range of Choices"
Receive 22.98 Million Won After Paying 18 Million Won Over 5 Years
Two More Participating Banks to Be Added in the Second Half of the Year
The Ministry of SMEs and Startups, IBK Industrial Bank of Korea, and Hana Bank announced on the 24th that they will add a 3-year product to the existing 5-year 'Preferential Savings Deduction for Employees of Small and Medium Enterprises' program.
The newly launched 3-year product offers an interest rate of up to 4.5%. If a participant saves 500,000 won each month for three years, they can receive approximately 22.98 million won at maturity, including company support funds. This translates to a profit of about 28% compared to the individual's total contributions. Enrollment for the 3-year product will begin on the 25th.
The Ministry of SMEs and Startups, Industrial Bank of Korea, and Hana Bank will launch a 3-year product for the existing 5-year "Savings Deduction for Employees of Small and Medium Enterprises" program. Ministry of SMEs and Startups
View original imageIBK Industrial Bank of Korea and Hana Bank will provide the same preferential interest rates and additional benefits as offered with the existing 5-year product. They also plan to hold various events in conjunction with the launch of the 3-year product to give preferential treatment to small and medium-sized enterprises and their employees. In addition to these two existing banks, two more commercial banks will be selected, expanding the total number of participating banks to four.
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Kwon Soonjae, Director of Regional Enterprise Policy at the Ministry of SMEs and Startups, said, "We hope that more small and medium-sized enterprises and their employees will be able to choose from a wider variety of products, enjoy greater convenience when enrolling, and ultimately benefit in terms of asset formation and long-term employment."
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