Shinhan Bank Launches Olive Young SOL Account With Up to 4.5% Interest

Shinhan Bank is rolling out a new account that pays up to 4.5% annual interest when used as a payment account at CJ Olive Young.

The bank said on the 13th it launched the "Olive Young SOL Account" developed with CJ Olive Young, with a cap of 200,000 accounts.

The Olive Young SOL Account is a demand deposit product that allows free deposits and withdrawals. Depending on a customer’s Olive Young usage, it offers up to 4.5% annual interest on balances of up to 2 million won. Customers can sign up starting that day through a promotional page in the Olive Young app.

To mark the launch, Shinhan Bank will give all new customers a 10,000-won Olive Young mobile gift certificate. Customers who spend at least 5,000 won a month at Olive Young using the account or a linked debit card will receive a 5,000-won mobile gift certificate each month for one year. An additional 10,000-won Olive Young coupon will be issued each time customers meet a three-month cumulative usage requirement.

A Shinhan Bank official said the product was designed to boost customer satisfaction by combining financial and lifestyle benefits, adding that the bank will continue partnering across sectors to offer differentiated financial experiences.