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[Alpha Biz=(Chicago) Reporter Kim Jisun] Toss Bank said it released "Toss Bank Free Savings" (free installment savings) on the 9th, which provides an annual interest rate of up to 5% if you save money every month without complicated preferential conditions.
The biggest feature of "free installment savings" is that anyone can receive the highest interest rate if they save money by automatic transfer every month during the subscription period without complicated preferential conditions.
Usually, when subscribing to deposits and installment savings products at commercial banks, all complex preferential conditions such as card performance and automatic transfer of telecommunication costs must be met in order to enjoy preferential interest rates. In many cases, only subscribers who use the bank for the first time can benefit. On the other hand, Toss Bank designed the product so that any customer could focus only on raising money.
The subscription period for "free installment savings" ranges from at least three months to a maximum of 36 months, and subscribers can freely choose the period they want. The monthly payment limit is up to 3 million won. In addition to the automatic transfer set at subscription, additional savings are free to be made within the limit.
The basic interest rate for 'free installment savings' is applied differently depending on the subscription period. If the subscription period is 12 to 36 months, the basic interest rate will be applied at 3.0% per annum, 2.0% per annum for 6 to 11 months, and 1.5% per annum for 3 to 5 months. On top of that, if all automatic transfers are successful every month, a preferential interest rate of 2.0 percentage points will be applied, allowing the interest rate to be applied up to 5.0 percent per year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
