The Saemaul Geumgo Central Association announced on September 3 that over 22,000 people have signed up for its social contribution financial product, the MG Hope Sharing Step Savings Account, aimed at combating low birth rates.
The Step Savings Account offers an annual interest rate of up to 12% for children born in 2026, with a one-year maturity. Parents can deposit up to 300,000 won per month, with interest rates of 10% for the first child, 11% for the second, and 12% for the third child and beyond. For children born in areas experiencing population decline, a flat 12% interest rate is available regardless of the number of children.
Launched in April with a limit of 50,000 accounts, the Step Savings Account has seen approximately 44% of its total capacity utilized within about five months.
Since 2023, Saemaul Geumgo has introduced high-interest savings products annually for families with newborns.
A representative from the Saemaul Geumgo Central Association stated, "We aim to provide practical financial benefits to families with newborns and contribute to overcoming low birth rates by introducing new products each year. We will continue to expand various support projects and social contribution activities in partnership with local communities."
The Step Savings Account offers an annual interest rate of up to 12% for children born in 2026, with a one-year maturity. Parents can deposit up to 300,000 won per month, with interest rates of 10% for the first child, 11% for the second, and 12% for the third child and beyond. For children born in areas experiencing population decline, a flat 12% interest rate is available regardless of the number of children.
Launched in April with a limit of 50,000 accounts, the Step Savings Account has seen approximately 44% of its total capacity utilized within about five months.
Since 2023, Saemaul Geumgo has introduced high-interest savings products annually for families with newborns.
A representative from the Saemaul Geumgo Central Association stated, "We aim to provide practical financial benefits to families with newborns and contribute to overcoming low birth rates by introducing new products each year. We will continue to expand various support projects and social contribution activities in partnership with local communities."
* This article has been translated by AI.
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