[DigitalToday reporter Ji-young Lee (이지영)] Shinhan Bank will begin a second sale of the Shinhan SOLmate time deposit from Feb. 12 for customers aged 50 and older.

The Shinhan SOLmate time deposit is a 12-month time deposit for senior and pre-senior customers aged 50 and older. Customers can sign up with deposits ranging from a minimum of 500,000 won to a maximum of 300 million won per person.

Shinhan Bank decided to add the second sale in response to customer demand after the first sale, launched on Jan. 26 with a 500 billion won limit, sold out in 10 days.

The second sale will be run with a limit of 500 billion won. Customers who joined the first sale can also sign up again. The combined subscription limit for the first and second tranches applies up to a maximum of 300 million won per person.

The Shinhan SOLmate time deposit offers an interest rate of up to 3.1 percent, adding a preferential rate of up to 0.2 percentage points to the base annual interest rate of 2.9 percent.

The preferential rate applies if a customer meets 1 of 2 conditions during the deposit holding period: an inflow of a public pension, including the basic pension, for at least 3 months, worth 0.2 percentage points; or monthly deposits of at least 200,000 won for at least 3 months into a private pension subscribed to through Shinhan Bank, worth 0.2 percentage points.

A Shinhan Bank official said the product drew a strong response, making it more meaningful as it was prepared in the spirit of inclusive finance to provide basic pension recipients with practical interest benefits. The official added the bank will continue to expand tailored products that support financial stability and asset building for senior customers.