Daol Savings Bank is expanding its deposit and lending product lineup to target demand by customer segment, from new workers to high-net-worth individuals, retirees and mid-to-low credit borrowers.

Daol Savings Bank said on Wednesday it operates the Fi Pocket Money III Account for short-term cash management, the Fi Asset Management Account for high-net-worth clients and the Fi Hybrid Time Deposit, among others.

The Fi Pocket Money III Account is a parking account that offers interest rates of up to 5.0 percent a year depending on the balance range, with no separate preferential conditions. It exceeded a cumulative 10,000 subscribed accounts in about 100 days after launch. It currently applies 5.0 percent a year to balances of up to 1 million won, 3.6 percent a year to up to 5 million won, 3.5 percent a year to up to 30 million won, 3.4 percent a year to up to 50 million won, and 1.0 percent a year to balances above 50 million won.

The Fi Asset Management Account, a parking account for high-net-worth clients, resumed sales in June. If the balance is 300 million won or more, it applies interest of up to 3.3 percent a year to the full deposited amount.

The Fi Hybrid Time Deposit applies a basic interest rate of 2.4 percent a year even if the deposit is terminated early, and offers 3.9 percent a year if maintained to maturity by adding 1.5 percentage points.

It also expanded products tailored to different life stages. The Fi Seed Money Savings, launched in July, allows customers to set their target amount and savings period themselves. The target amount can be set from 1 million won to 35 million won, and the subscription period from 6 months to 60 months.

The Fi National Pension Safety Account for retirees is a product that protects national pension payments from seizure or set-off. The monthly deposit limit is 2.5 million won, the amount protected for beneficiaries under current law, and the cumulative deposited amount is also protected from seizure.

For lending products, it introduced the Daol Mid-Rate Living Stability Loan for mid-to-low credit borrowers. It supports up to 10 million won at rates of 5.9 to 15.27 percent a year for customers in the bottom 50 percent or lower in credit score, and allows instalment repayment for up to 120 months. Debt service ratio (DSR) rules apply, but the limit on unsecured loans within annual income does not apply.

A Daol Savings Bank official said, "The products introduced this year started from removing constraints that customers naturally ran into when using financial services," adding, "We will continue to expand customised products and inclusive finance services that align with customers' life cycles and financial goals."