Let’s take a look at the types of overseas travel savings and recommended short-term savings products for Kookmin/Hana/Shinhan travel.
Going on an overseas trip can suddenly cost you a lot of money, so it’s a good idea to save up a little bit in advance. First-tier financial institutions have launched savings products to finance travel. If you are lazy to look into each type of overseas travel savings, you can just check the information below.
If you are tired of paying for preferential interest rates one by one, we recommend savings (weekly) starting from a month at Shinhan Bank, where preferential interest rates are applied as long as you make your payments. If you want to get the highest interest rate, consider Hana Bank Travellog Travel Savings.
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index
Types of overseas travel savings
1. KB Kookmin Bank KB Exciting Travel Savings
2. Hana Bank Travellog Travel Savings
3. Shinhan Bank savings from one month (weekly)
How much do you need to save to save 1 million won in travel funds?
Types of overseas travel savings
1. KB Kookmin Bank KB Exciting Travel Savings
KB Kookmin Bank KB Exciting Travel Savings
Source: KB Kookmin Bank
✅ Subscription period: 6 months
✅ Subscription amount: 50,000 to 1 million won per month (unit of 10,000 won)
✅ Deposit method: Fixed deposit type
✅ Interest rate: lowest annual 2.9%~3.9%
✅ Benefits: Yellow balloon up to 30,000 won & 4% discount coupon
KB Kookmin Bank KB Exciting Travel Savings is a savings product launched in partnership with the travel agency ‘Yellow Balloon’.
Depending on the payment period, we provide up to 30,000 won and a 4% discount coupon for yellow balloons. When you sign up (1st payment), you will receive a 10,000 won discount coupon for the package (when paying over 200,000 won). After completing the 4th payment, you will receive the following benefits.
4% discount on package (no maximum/minimum price conditions)
10,000 won discount on independent travel (for hotel purchases of 150,000 won or more)
5,000 won discount on independent travel (for airline purchases of 200,000 won or more)
5,000 won discount on independent travel (when purchasing an activity worth 100,000 won or more)
The subscription period is only 6 months, and monthly payments can range from 50,000 won to 1 million won.
The basic interest rate is 2.9% per annum, and when a preferential interest rate is applied, you can receive up to 3.9% per annum. The preferential interest rate conditions are as follows.
☑ Travel friend preferential interest rate: Maximum 0.6%p per year
The friend verification number generated when signing up for a savings account is provided to another person, and is provided when someone else signs up for a savings account by entering the friend verification number in your account before expiration. Accounts that provide a friend verification number will receive an annual discount of 0.6%p, and accounts that enter a friend verification number will receive an annual discount of 0.4%p.
☑ Open banking preferential interest rate: 0.3%p per year
It is provided if both conditions below are met as of the end of the month following the new savings month.
– [Bank] Consent to collection and use of personal (credit) information (product service information, etc., product service information using open banking, etc.)
– KB Open Banking other financial (bank/securities) account registration
☑ Preferential interest rate for automatic transfer savings: 0.1%p per year
This is provided to those who have made three or more payments through automatic transfer from their KB Kookmin Bank deposit/withdrawal account to this savings account before maturity.
Go to KB Kookmin Bank KB Exciting Travel Savings
2. Hana Bank Travellog Travel Savings
Hana Bank Travellog Travel Savings
Source: Hana Bank
✅ Subscription period: 3 to 12 months
✅ Subscription amount: KRW 10,000 – KRW 500,000 per month (unit of KRW)
✅ Deposit method: Free deposit type
✅ Interest rate: Minimum 3%~5% per year
✅ Benefits: Preferential interest rates when using Travellog
Hana Bank Travellog Travel Savings is a savings product that provides preferential interest rates based on Travellog card usage. The Travelogue Card is an essential overseas travel check card that is exempt from typical overseas payment fees and ATM fees.
Find out about Hana Bank Travellog Check Card, the No. 1 essential item for traveling to Japan
The subscription period can be from 3 to 12 months on a daily/monthly basis, and you can pay up to 500,000 won per month.
Hana Bank Travellog Travel Savings Base Interest Rate
Source: Hana Bank
A basic interest rate of up to 3% per annum is provided, and when a preferential interest rate is applied, an interest rate of up to 5% per annum can be received. It offers the highest interest rate among overseas travel savings types. Detailed preferential interest rate conditions are as follows.
☑ Travelogue card usage: Up to 1.80% per year
This is provided to those who register a payment (recharge) account with a Hana Bank deposit/withdrawal account from the date of signing up for this deposit and the day before maturity, and have more than 10 Travellog (credit and check) card usage (approval) records (Note 1).
☑ Marketing consent: 0.10% per year
This deposit is provided if you agree to all of Hana Bank’s product and service marketing consent items before signing up for this deposit.
☑ Hana One Q Push Notification Consent: 0.10% per year
This is provided if you agree to Hana One Q marketing push notifications before signing up for this deposit.
Go to Hana Bank Travellog Travel Savings
3. Shinhan Bank savings from one month (weekly)
Shinhan Bank savings from one month (weekly)
Source: Shinhan Bank
✅ Subscription period: 1 month to 12 months (in days)
✅ Subscription amount: KRW 1,000~KRW 100,000 (KRW unit)
✅ Deposit method: Free deposit type
✅ Interest rate: Minimum 2.5%~4.5% per year
✅ Benefits: Preferential interest rate upon maturity termination
Shinhan Bank Monthly Savings (Weekly) is a savings product that allows you to pay weekly for a set period ranging from one month to one year. Although it is not a savings account with conditions related to overseas travel, it is a product that Shinhan Bank is actively promoting as a travel-only savings account.
You can sign up for a daily subscription period from 1 to 12 months, and pay within 100,000 won per week or 20,000 won per day. Therefore, you can pay about 600,000 won per month.
The basic interest rate is 2.5% per annum, and when a preferential interest rate is applied, you can receive up to 4.5% per annum. Preferential interest rate conditions are provided when the conditions below are met.
☑ Weekly payment: Achieve more than 90% of total payment rounds
☑ Daily payment: Achieve 0% or more of total payment rounds
In order to take advantage of preferential interest rates, you must be familiar with the payment cycle standards.
☑ Weekly deposit: Monday to Sunday
☑ Daily deposit: Business day ~ the day before the next business day
For example, the weekly payment schedule is as follows:
①23.11.07 (Tue)~11.12 (Sun) ②23.11.13 (Mon)~11.19 (Sun) ③23.11.20 (Mon)~11.26 (Sun)
The daily payment schedule is as follows:
①23.11.07 (Tue) ②23.11.08 (Wed)~11.12 (Sun) ③23.11.13 (Mon)~11.14 (Tue)
Go to Shinhan Bank monthly savings (weekly)
How much do you need to save to save 1 million won in travel funds?
To go to Japan, the most popular overseas travel destination for Koreans, for 3 days and 2 nights, you will need about 1 million won. Among the types of overseas travel savings, if you save 1 million won at 3.9% for 6 months through KB Kookmin Bank’s KB Exciting Travel Savings, you can save 170,000 won per month.
☑ Monthly payment amount: 170,000 won
☑ Principal after maturity: KRW 1,020,000
☑ After-tax interest (15.4%): KRW 9,813
☑ Expected receipt after maturity (after tax): KRW 1,029,813
To calculate savings interest, check the savings calculator below.
Go to savings calculator
Up to this point, we have looked at the types of overseas travel savings and recommended short-term savings products for Kookmin/Hana/Shinhan travel. You don’t have to sign up for a travel-specific savings product to save money for travel. You may want to consider savings products that you can subscribe to for a short period of time.