Our savings products are composed of ordinary deposit, savings deposit, time savings deposits, and installment savings time deposit. For electronic bankbook users, they cannot only issue e-post cash card, check card, and other alliance cards, but they can also withdraw from their accounts and check their account balances via automated cash machines, Han-Net Co. Ltd. Machines and Korea Electronic Finance Co., Ltd. Machines located in public places including subway stations. For customers who subscribed e-post household checking account can borrow up to fifteen million won.
Through this account, monthly payment for installment savings, and bills and tax payments, are paid according to their payment schedules. The monthly salaries, pensions, compensations, and interest income of fixed deposits will also be automatically deposited to account on customer' request. Also, after introduction of electronic financial services since September of year 2000, we are preparing to meet growing demand of services in digital environments. (e-Post Bank Savings)
Our customers pay lower charges when they transfer their money through online compared to other financial institutions, and they are charged for any fees in case of checks and household checks. The receivables can be collected conveniently by taking advantage of well established logistics of post offices and Internet. When customers pay small fees, their non bankbook account record, can be provided. Also, their expense for condolence can be paid by telephone, and use e-Post shopping network.
The level of interest rate for Postal savings are similar to market interest rate, and when customers use tax preferential account, the interest of up to forty million won of savings is tax-exempt. From February of 2001, we provide opportunity to save separate taxation for customers who have annual salary of forty million won with tax-satisfactory installment savings deposits.
On the second celebration of Korea post establishment, we introduced “Champion installment savings deposit” on July second in 2002. Its characteristics are; installment period can be adjusted in the unit of dates, up to certain amount, customers can terminate contract, and customers can apply through Internet. By affiliating with travel agencies, we provide special traveling benefits.
The customer who has the demand deposit of fifty million won, or savings of one hundred million won in their account, can be benefited by our “Premium Customer Benefit” since July of 2002. For student installment savings, it help students to be embedded with habit of savings, and has been operated through Internet since March of year 1993. Also, customers can take advantage of periodic visit of post office officers to their schools through online services.
Repurchase Paper provide high profit even in short period of time (including at the termination) on the condition of repurchasing treasury bond which e-post bank owns, with additional interest. The minimum amount of repurchase bond is fifty thousand won which is lower than other financial institutions (one hundred thousand won).
For couples who are preparing for the marriage or newly married couples, we provide “Doori-Hana installment savings” with additional interest benefit up to 0.5% to provide better financial opportunity since July of year 2001.
In accordance of Restriction of Tax Reduction & Exemption Act and income tax Act, we provide non-taxable and tax preferential household installment deposits since November of year 2003.