Hana Bank in South Korea has launched a new service that rewards savers with better interest rates if they are able to lose weight. The savings scheme is called “S-Line,” a Korean word that refers to a curvy, hourglass figure, and it has proven popular since its introduction in 2008. Around 50,000 customers have so far saved about 400 billion won (NT$10.5 billion) with the scheme.
South Korea has been described as a nation that’s obsessed with image, and the popularity of weight-loss accounts shows just how important it is for people there to stay in shape. With the Hana Bank account, customers are entitled to improved rates if they lose 5% of their body weight in a year or keep up their gym membership.
Unusual and innovative savings schemes are the norm in Korea, and Kookmin Bank now has its own smartphone package. When savers forego their regular cup of coffee or a taxi ride, they can click on an appropriate icon on their phone, and the bank will automatically deposit money in their account. Speaking about the unorthodox accounts, one Korean office worker said: “I would be proud of myself to see more money coming in as a reward for my strict regimen.”