The Saemaul Geumgo Central Association announced on the 8th that it launched the 'MG Hope Sharing Baby Snake Savings Account' on the 7th. The Baby Snake Savings Account is a public interest product prepared by Saemaul Geumgo to overcome low birth rates, following the launch of the Kangchong Savings Account (2023) and the Yongyong Savings Account (2024).
The Baby Snake Savings Account is a one-year maturity regular savings product released with a limit of 50,000 accounts. It allows monthly contributions of up to 200,000 won and offers a maximum annual interest rate of 12%. The base interest rate is 10%, and preferential interest rates are offered for families with multiple children: 11% for the second child and 12% for the third child and beyond. Notably, newborns in declining population areas receive a 12% interest rate regardless of the number of children.
To commemorate the launch of the Baby Snake Savings Account product, a first signup event was held on the 7th at the Gunpo Saemaul Geumgo headquarters in Sutak-dong, Guri City, Gyeonggi Province, attended by Choihun, director of the Saemaul Geumgo Central Association, and subscribers. On that day, a father with a late-born child of the snake zodiac and a multicultural family father who gave birth to a third child of the snake zodiac attended the event and received a congratulatory gift (1 million won) along with the preferential interest rate.
Choihun, director of the Saemaul Geumgo Central Association, noted, "We launched the Baby Snake Savings Account this year following last year's Yongyong Savings Account to overcome the social issue of low birth rates," adding, "Saemaul Geumgo, as a financial institution that coexists with the community, will contribute to job support for youth and older generations, welfare projects for elderly individuals living alone and North Korean defectors, as well as efforts to address the low birth rate issue."