Toss Bank Launches "Fetal Savings Account" for Expectant Parents

Up to 5% Interest Rate Upon Account Opening
Monthly Deposits Up to 200,000 Won

On October 21, Toss Bank announced the launch of its "Fetal Savings Account," a special savings product designed for expectant parents awaiting the birth of their child.

The "Fetal Savings Account" is a flexible installment savings product that allows parents to start preparing for their child's future from the pregnancy stage. After childbirth, if parents open a dedicated "Child Account" in their child's name, they can receive an interest rate benefit of up to 5% per annum (before tax). The base interest rate is 1% per annum, and the preferential rate is 4% per annum. Deposits of up to 200,000 won per month can be made freely.

To receive the preferential interest rate, there is no need to submit any separate supporting documents (such as a pregnancy certificate). The benefit is automatically applied if a Toss Bank Child Account in the child's name is opened before the maturity date of the Fetal Savings Account.

Only one parent can enroll in and contribute to the Fetal Savings Account. Invited family members can view weekly pregnancy updates and growth graphics to track the child's development within the application (app). To receive the maximum interest benefit, both the Fetal Savings Account and the Child Account must be opened by the same guardian.

To celebrate the launch, Toss Bank is also holding a "Baby Name Contest" event. To participate, customers who open a Fetal Savings Account can enter their child's prenatal name and its meaning on the event page, which will automatically generate a baby name card image. By sharing this image on their Instagram story and tagging the Toss Bank Instagram account, their entry will be submitted.

Through an Instagram poll, one winner will be selected in each of two categories: "Most Loving Baby Name" and "One-of-a-Kind Baby Name." Each of the two winners will receive a pure gold ring weighing 5 don. The event runs from October 20 to November 2, and the final winners will be announced on November 14.

A Toss Bank representative stated, "We have made it easy for parents expecting a child to prepare their child's first asset without the need for paperwork or in-person visits," adding, "We will continue to introduce a variety of products to accompany families throughout all stages of their financial journey."

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