Deposits accepted from 500,000 won to 20 million won per person; 500 billion won total limit
Shinhan Bank announced Monday it will launch a second special sale of its "Super SOL Welcome" time deposit, offering an annual interest rate of up to 4%, with a total limit of 500 billion won ($368 million).
The second round was arranged after the first tranche's 500 billion won limit, set when the product launched in October, sold out ahead of schedule.
Customers may open accounts with a minimum of 500,000 won and a maximum of 20 million won per person, and may split deposits across multiple accounts within that limit. Terms of six months or 12 months are available.
The base rate is 3.3 percent per year for the six-month term and 3.6 percent for the 12-month term. Customers who sign up within six months of their first login after the Super SOL platform launched receive a preferential rate of 0.2 percentage point. An additional 0.2 percentage point bonus applies to customers who have no record of salary transfers to Shinhan Bank in the six months prior to enrollment and who receive salary deposits of at least 500,000 won per transaction for three or more months after opening the account.
Any customer who enrolls by Dec. 31 this year will automatically qualify for the 0.2 percentage point preferential rate tied to new logins since the Super SOL launch.
Customers who also meet the salary-transfer condition can earn a maximum annual rate of 3.7 percent on the six-month term and 4 percent on the 12-month term.
A Shinhan Bank official said the second special sale was prepared as a gesture of appreciation to customers who responded enthusiastically to the first round, adding that the bank would continue to offer products and services that support customers' financial lives.
Meanwhile, Shinhan Bank last month issued 150 billion won worth of Korean green bonds under the government's Korean-style green bond issuance interest-subsidy program.
hyuk@heraldcorp.com
