Introduced in October 2023, the short-term installment savings product is designed to help customers build a saving habit by setting aside small daily amounts ranging from 100 won to 30,000 won. With a 31-day maturity, it is easier to keep through to the end. Each deposit also triggers an on-screen animation of the bank’s “Chunsik” character climbing a 31-story building, adding a playful element.
KakaoBank said the product reached 5 million accounts about seven months after launch, 10 million in 1 year and 5 months, and exceeded 14 million earlier this month.
The customer base has broadened. While the product initially drew a higher share of customers in their 30s and younger, customers in their 40s now account for 31% and those 50 and older for 32%, or 63% combined. Women made up 72% of customers, the bank said.
KakaoBank has also offered the product as a “partner savings” program tied to companies including Samsung Electronics, LG Electronics, Hana Securities, Baskin-Robbins and Gmarket, providing additional benefits to customers.
KakaoBank said the product’s reputation as “easy and 부담 없는” — simple and not burdensome — along with its fun features helped it reach 14 million accounts quickly. The bank said it will continue working to provide greater benefits and convenience through differentiated products and services.
* This article has been translated by AI.
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