[Digital Today reporter Ji-young Lee] KBank's financial service for underage children, "My Kids" (account and savings), is drawing a strong response.

KBank said on May 27 that its My Kids service, launched on May 13, surpassed 10,000 cumulative subscriptions in two weeks.

The accompanying My Kids savings product lets customers set a subscription term from 1 year to up to 5 years in one-year increments. It said 86 percent of savings subscribers chose the longest, five-year maturity.

This is seen as reflecting demand among parents with infants and toddlers to build assets over the long term. In a survey KBank conducted before the product launch, more than half of parent customers with children under 6 said they prefer long-term savings products of at least 3 years.

According to the company, another differentiating factor is that My Kids Savings removes complex conditions for preferential interest rates. If customers make deposits for at least two-thirds of the subscription period, it provides an annual preferential interest rate of 4.0 percentage points without additional conditions such as designating a primary transaction account or meeting card usage requirements. As a result, customers can receive a maximum annual interest rate of 7.5 percent.

KBank is also running a "1 percent interest coupon event" through June 5 to mark the launch of the My Kids service. With the coupon applied, it offers a maximum annual interest rate of 8.5 percent based on a five-year maturity. It is also running an event that pays cash depending on stamp accumulation rankings.

A KBank official said simplifying the preferential interest rate conditions is winning a positive response from customers by allowing parents to continue long-term saving in line with their children's growth cycle. The official said KBank will continue to introduce products that offer practical benefits and convenience.