Toss Bank's new short-term savings plan has seen over 300,000 accounts opened within a month, marking a successful launch.
As of September 5, Toss Bank announced that its 'Grow with Us 31-Day Savings Plan' surpassed 300,000 accounts. This figure tripled in size within approximately three weeks after exceeding 100,000 accounts on August 12.
The Grow with Us 31-Day Savings Plan is a challenge-based savings program where users save small amounts daily for 31 days while nurturing a squirrel character in the app. After saving for three days, users earn an annual interest rate of 3%, which increases to 4% after seven days, 6% after 14 days, and 8% after 21 days. If users save daily for the full 31 days, they can receive a maximum annual interest rate of 10%.
According to Toss Bank, since the plan's launch on August 13, the number of daily savers has consistently exceeded 100,000, with an average of over 110,000 users participating daily. Approximately 67% of all users have continued saving for more than three weeks, meeting the conditions for the 8% interest rate.
Participation rates among different age groups showed little variation, with 70% of customers aged 20 to over 50 saving for more than 21 days. Among customers over 50, nine out of ten completed the full 31 days without early withdrawal.
Toss Bank explained that the daily missions in the app, which change the appearance of the squirrel character based on user performance, have encouraged consistent savings participation.
A Toss Bank representative stated, "We will continue to introduce financial services that help customers develop easy and enjoyable saving habits."
* This article has been translated by AI.
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