[DigitalToday reporter Ji-young Lee] Toss Bank introduced a challenge-style savings product that applies annual interest rates of up to 10 percent if customers save a small amount every day for 31 days while raising a character.

Toss Bank said on Wednesday it launched 'Kiwobwayo 31-Day Savings', a revamped version of its 'Kiwobwayo Savings'.

The savings plan is a short-term product in which customers make deposits themselves over 31 days while raising a squirrel character. It keeps the character-raising method of the existing product while shortening the subscription period to 31 days.

It is open to customers aged 7 or older who hold an i account or a Toss Bank account. Each person can open only 1 account and can deposit up to 5,000 won a day. The maximum amount that can be paid in over 31 days is 155,000 won.

The base rate is 1.0 percent a year, with preferential rates applied depending on the number of successful deposits. Customers can receive 3 percent a year for depositing for 3 days, 4 percent for 7 days, 6 percent for 14 days, 8 percent for 21 days, and up to 10 percent a year for depositing on all 31 days. Rates are before tax and are determined by the number of successful deposits up to the day before maturity.

Customers can complete a mission given with each deposit and, depending on the answer they choose, raise the squirrel's charm, stamina and intelligence stats. The method links the character's growth and evolution process to saving activity.

A Toss Bank official said, "We will introduce products and services that make it easy to experience finance in everyday life."