Deposits accepted from 500,000 won to 20 million won per customer; first-come, first-served sales capped at 500 billion won

[Created using ChatGPT]
[Created using ChatGPT]

Shinhan Bank has launched a fixed deposit offering an annual interest rate of up to 4 percent, linking use of its Super SOL app with first-time payroll transfers.

The bank introduced the "Super SOL Welcome Fixed Deposit" on Tuesday, targeting customers who log into Super SOL for the first time or begin receiving their salary through Shinhan Bank, offering them preferential interest rates.

The minimum deposit is 500,000 won ($374) per account, with a total cap of 20 million won per customer. Customers may open multiple accounts within that limit and choose between a six-month or 12-month term.

The base rate is 3.3 percent per annum for the six-month term and 3.6 percent for the 12-month term. Customers who sign up within six months of their first Super SOL login receive an additional 0.2 percentage point. Those who have not received a payroll deposit at Shinhan Bank in the previous six months and then deposit a salary of at least 500,000 won per transaction for three or more months after enrollment qualify for a further 0.2 percentage point bonus.

Customers who enroll by Dec. 31 this year receive an additional 0.2 percentage point regardless of when they first logged into Super SOL. Those who also meet the payroll deposit condition can earn a maximum rate of 3.7 percent annually on the six-month term and 4 percent on the 12-month term.

The product is part of the banking industry's broader push to convert new customers into primary account holders by tying preferential rates to app usage and payroll transfers. The deposit is available through the Shinhan Super SOL app on a first-come, first-served basis, with total sales capped at 500 billion won.

"This product was designed to give customers a stable asset management opportunity and to add benefits for those using Super SOL and making their first payroll transfer with us," Shinhan Bank President Jeong Sang-hyeok said. "We will continue to introduce products and services that help customers in their financial lives."


forest@heraldcorp.com