Toss Bank's challenge-based savings product is gaining popularity shortly after its launch.
The bank announced on August 12 that its 'Grow It 31-Day Savings' surpassed 100,000 accounts just four days after its release on August 6.
This product encourages users to save small amounts daily for 31 days while nurturing a squirrel character. A maximum annual interest rate of 10% (before tax) is applied if users successfully save each day without any additional conditions.
According to Toss Bank, 94% of all account holders executed their first deposit on the same day they opened their accounts. Additionally, accounts opened by users under 17 years old exceeded 20,000, making up more than 20% of total accounts.
On August 10, Toss Bank also introduced a 'Share My Squirrel' feature, allowing users to create and share images of their nurtured squirrels with friends and family.
A Toss Bank representative stated, 'The Grow It 31-Day Savings is designed not just as a product to sign up for, but to help cultivate a daily saving habit. We will continue to strive to make it easy for customers to start saving without pressure and to maintain that habit.'
* This article has been translated by AI.
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