OK Savings Bank’s new account combines daily 10,000-won deposits with a gamified pet-raising feature, offering a promotional rate of up to 15% before tax.
OK Savings Bank has launched a short-term savings product designed to appeal to customers who want to build a habit of saving while earning a potentially high promotional rate. The South Korean lender said on October 23 that its new “OK My Pet Installment Savings” account requires customers to deposit 10,000 won a day for 33 days.
The account carries a base rate of 2.0% before tax, but the bank says the annual rate can rise to as much as 15.0% if customers meet every preferential condition. Those extra rates include 2.0 percentage points for consenting to marketing messages and another 2.0 percentage points for registering a nickname for the account. A further bonus is tied to deposit discipline: every five payments made within the first 30 days adds 1.5 percentage points, up to a maximum of 9.0 percentage points for 30 deposits. To receive the full preferential rate, all 33 payments must be completed by maturity.
The product also leans heavily on gamification. As deposits accumulate, animal characters in the bank’s app are designed to grow, giving savers a visual sense of progress and achievement. OK Savings Bank said the concept blends pet care themes with finance, tapping into the growing popularity of pet culture while also addressing demand for small, short-duration savings products.
A bank official said the aim is to make saving feel like a daily routine rather than a chore, describing the account as a way to let customers build interest while also enjoying the process of raising a character in the app. The launch fits a broader trend among Korean financial firms that are trying to make basic banking products more engaging for younger and more digitally active customers.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
