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 (email@example.com)