Shinhan Bank will sell an additional 500 billion won of its senior-focused deposit product for customers aged 50 and above, after earlier sales sold out quickly. The bank said it will start a third special sale of the Shinhan SOL Mate time deposit from June 15. The 12-month product offers a base annual rate of 3.0 percent and up to 3.2 percent with a preferential rate.

Shinhan Bank will offer basic pension recipients a free financial security insurance benefit as it steps up protection for older financial consumers amid increasingly varied fraud schemes such as voice phishing and messenger phishing. Applications are available on Shinhan SOL Bank through Dec. 31, with coverage lasting one year after enrollment. The policy covers costs incurred in recovering mistaken transfers and compensation for telecom-based financial fraud. Limits are 3 million won and 10 million won.