KB Kookmin Bank said on Monday it launched 'KB Preferential Savings for SME Employees' to support asset-building for small and medium-sized enterprise employees.

The product was prepared based on a business agreement signed in November with the Korea SMEs and Startups Agency, after KB Kookmin Bank was selected as a handling bank for the 'Preferential Savings for SME Employees' programme.

Eligible subscribers are SME employees whose participation has been approved by the agency. They can choose a subscription period of 36 months or 60 months. The savings amount is 100,000 won to 500,000 won per month, and payments can be made once a month for the amount approved by the agency.

The base interest rate is 2.5 percent per year regardless of the subscription period. Depending on transaction conditions, a preferential rate of up to 2.0 percentage points applies, allowing customers to receive an interest rate of up to 4.5 percent per year.

The product is characterised by KB Kookmin Bank and SMEs jointly supporting employees' asset-building.

KB Kookmin Bank provides subscribers with preferential interest rates. SMEs pay 20 percent of employees' contributions as corporate support funds, helping with asset-building while also receiving corporate tax reductions.

A KB Kookmin Bank official said, "This product is a win-win financial product that provides practical benefits to both SMEs and employees," and added, "We will continue to practise win-win finance and fulfil our corporate social responsibility."