Woori Bank Savings Plan Offers High Interest Rates for More than 10,000 Steps a Day | Be Korea-savvy

Woori Bank Savings Plan Offers High Interest Rates for More than 10,000 Steps a Day


This photo, taken on Feb. 11, 2020, shows the headquarters of Woori Financial Holdings Co. in central Seoul. (Yonhap)

This photo, taken on Feb. 11, 2020, shows the headquarters of Woori Financial Holdings Co. in central Seoul. (Yonhap)

SEOUL, Nov. 24 (Korea Bizwire)Woori Bank, one of South Korea’s largest commercial banks, said Wednesday it will be releasing a new installment savings plan that will provide a high annual interest rate of up to 11 percent for those who walk more than 10,000 steps a day.

The availability of this installment savings plan will be limited to 100,000 people who apply in advance through the bank’s mobile banking app starting at 5 p.m. on Dec. 7.

The maximum daily deposit amount will be set at 10,000 won (US$7.46), for a total of 300,000 won per month.

The installment savings plan will have a six-month maturity date, with its basic annual interest rate set at 1 percent.

If users complete the app’s confirmation process after walking more than 10,000 steps a day, the annual interest rate can be increased up to 11 percent.

During the pre-application period, the bank plans to offer an Apple Watch Series 8 and AirPods Pro 2 to a total of 13 people by drawing lots.

Ashley Song (ashley@koreabizwire.com)

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