Woori Bank said on Thursday it launched the “Woori Team Korea (Team Korea) Savings” plan to commemorate Woori Financial Group’s selection as an official partner of the Korean Sport & Olympic Committee and to cheer the national team competing at the Milan-Cortina d’Ampezzo Winter Olympics, which opens on Feb. 6.

The 12-month flexible savings product is limited to 1 account per person, with monthly deposits capped at 300,000 won. It will be sold up to a total of 100,000 accounts. The base annual interest rate is 2.5 percent, and it offers a maximum annual rate of 7.5 percent by adding preferential rates based on the national team’s performance and customer participation in events.

Preferential rates can total up to 5.0 percentage points. The details include up to 3.0 percentage points if Olympic national team athletes win medals (0.5 percentage points for gold, 0.2 percentage points for silver and 0.1 percentage points for bronze). Up to 1.0 percentage point applies if customers post comments on the cheering bulletin board in WooriWON Banking by Feb. 22, the day of the Olympic closing ceremony (0.2 percentage points per post). An additional 1.0 percentage point preferential rate is provided if the customer correctly predicts South Korea’s final overall ranking submitted when signing up for the product.

Woori Bank also prepared a prize event to cheer the national team with customers. It will give Starbucks coffee coupons to 300 customers selected by lottery among those who sign up for the Woori Team Korea Savings plan and leave a comment on the cheering bulletin board by Feb. 28.

It is also running an event open to anyone regardless of whether they sign up for the product. Participants who check the national team’s overall ranking and medal count on the WooriWON Banking event page and enter by Feb. 19 will be entered into a draw to receive a Tous Les Jours cake coupon (10 winners) or a Stanley tumbler (10 winners).

“We launched a customer-participation product to cheer the sweat and passion of the national team athletes together with our customers,” said Young Lee, head of the retail deposit products team in Woori Bank’s consumer product marketing department. “I hope customers enjoy this winter’s Winter Olympics and receive financial benefits as well.”