Toss Bank has introduced a fixed deposit product that allows customers to set their own maturity dates according to their financial plans.
On October 21, Toss Bank announced the launch of its 'Fixed Deposit with Desired Maturity Date,' enabling customers to choose their preferred maturity date down to the month and day within a range of 1 to 36 months. When the maturity date is reached, the principal and interest will be automatically deposited into the customer's Toss Bank account.
Interest rates are applied based on the deposit period without any special conditions. Customers can earn an annual interest rate of 3.30% for deposits of three months or more, and up to 3.80% for deposits of one year or more. The applicable interest rate is confirmed as soon as the maturity date is set.
The minimum deposit amount is 1 million won, with a maximum of 1 billion won, and deposits can be made in increments of 10,000 won. Customers can open multiple accounts to set different maturity dates based on their financial needs.
If funds are needed before maturity, customers can use the 'Early Withdrawal' feature up to two times. However, early withdrawal will incur a penalty interest rate, and customers must maintain at least 1 million won in the account to keep the deposit until the original maturity date. After maturity, customers can automatically reinvest the principal and interest for the same period, with a maximum of three renewals.
A Toss Bank representative stated, "We have enabled customers to set deposit maturities according to their schedules, and we will continue to introduce financial products that enhance the convenience of managing funds."
* This article has been translated by AI.
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