Which do you prefer – a big bank balance or a slim waist?
Whilst the recent banking crisis has raised a lot of challenges for banks and reinforced the need for them to stick to the solid core foundations of the profession, there are still a number of innovative savings products out there.
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Sprinting to the front in terms of pretty unique product offering is the South Korean bank, Hana Bank.
Hana Bank, the banking arm of Hana Financial Group offers a savings product called “S-Line” which is a Korean word that means hourglass figure.
The basic idea behind the product is that the more weight a person loses the higher the interest rate the individual gets on his or her savings. The highest interest rates are available for those investors that lose more than 5% of their weight within a year.
Hang on, I hear you say – “What about those investors that are already fit and have a healthy weight?”
The bank has thought of this and rather than encourage people who are a healthy weight to lose weight they also offer the highest rates if the individual holds a gym membership for a year.
Are people signing up for this savings product?
Well reportedly, nearly 50,000 customers have invested 400 billion won (approximately £220 million) in the programme so far.
It looks like a healthy result for the bank.