For foreign residents in Korea, choosing savings products that take into account the convenience of remitting money to their home country and the uncertainty of their period of stay is essential.
Shinhan Bank’s SOL Global Savings offers a base interest rate of 2.75% per annum, with a maximum interest rate of 3.25% per annum when the preferential interest rate requirements are met. (As of September 23, 2026, before tax)
Key benefits include a maturity automatic remittance service and a special early termination interest rate, designed to meet the financial needs and consumption patterns of foreign customers.
The Key to Managing Money as a Foreign Resident: Choosing a Product That Fits Your Needs
For foreign customers opening a savings account, the most important factors to consider are fund liquidity and the convenience of overseas remittance. With a typical installment savings product, terminating the account before maturity due to circumstances such as leaving Korea may result in a lower early termination interest rate than the contracted rate, reducing the overall return. In contrast, products designed specifically for foreign customers provide tailored benefits aimed at easing these limitations.
Category | General Installment Savings | SOL Global Savings (For Foreign Customers) |
|---|---|---|
Early Termination Interest Rate | As low as 0.10% per annum | When funds are remitted overseas through Shinhan Bank on the date of early termination, the base interest rate of 2.30% per annum is fully applied |
Receipt of Maturity Proceeds | A branch visit and separate remittance procedures may be required | The maturity automatic remittance service sends the maturity proceeds directly to a designated account in the customer's home country |
Distinctive Benefits of SOL Global Savings: Flexibility and Convenience
This savings product provides two specialized services designed to address the uncertainty surrounding foreign customers’ periods of stay in Korea and their overseas remittance needs.
* Special Early Termination Interest Rate: If a customer remits the funds overseas through Shinhan Bank on the date of early termination, the contracted base interest rate of 2.75% per annum is applied for the actual deposit period, instead of the standard early termination interest rate (minimum 0.10% per annum). This can help reduce interest losses when customers need to terminate their savings due to an unexpected departure from Korea.
Maturity Automatic Remittance Service: If a customer is unable to visit a branch at maturity, the savings account is automatically terminated on the maturity date, and the maturity proceeds are securely remitted directly to a designated overseas account in the customer's home country.
For foreign customers, opening an installment savings account is more than simply setting money aside. It is an important financial activity that should take into account both the convenience of remitting funds to their home country and the potential risk of an unexpected departure from Korea. Shinhan Bank’s SOL Global Savings reflects these financial needs of foreign customers by providing stable interest benefits and convenient automatic remittance services, offering a practical solution for managing savings while living in Korea.
⚠ Depositor Protection Notice
The deposit in this account is protected by the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act. The KDIC provides coverage up to KRW 100 million per depositor (for the aggregate of all insured financial products with this bank), including principal and designated interest.
⚠ Important Information
※ If an attachment, provisional attachment, or similar restriction is registered on the account, payment of principal and interest may be restricted.
※ Even if you subscribe to this product, overseas remittances may be restricted depending on circumstances in the receiving country, foreign exchange transaction regulations, Anti-Money Laundering (AML) regulations, Countering the Financing of Terrorism (CFT) regulations, and other applicable requirements.
※ Transactions automatically remitted through the automatic remittance service cannot be canceled or changed. However, if the payment is rejected by an overseas bank or for other applicable reasons, the amount remaining after deducting applicable fees will be converted into Korean won, based on the telegraphic transfer buying rate applicable on the payment date, and paid into the linked account registered when the service was applied for.
※ The automatic remittance service may be suspended when legally required restrictions apply, such as a change in the designated foreign exchange bank, expiration of the passport validity period, or exceeding the annual remittance limit.
※ Matters not specified in the Shinhan SOL Global Savings Terms and Conditions shall be governed by the Foreign Exchange Transactions Act and other applicable laws and regulations. Matters not specified in such laws and regulations shall be governed by the Basic Terms and Conditions for Foreign Exchange Transactions and the Bank's relevant regulations.
※ Please make sure to review the Terms and Conditions and Product Information Sheet before subscribing to this product.
※ When subscribing to this product, you may receive an explanation of important matters concerning the product in accordance with the Financial Consumer Protection Act.
※ This advertisement is provided following the applicable procedures in accordance with relevant laws and internal control standards.
※ For further information, please refer to the Product Information Sheet or contact a Shinhan Bank branch or the Shinhan Bank Foreign Customer Call Center at 1577-8380. (Weekdays 9:00 a.m.–6:00 p.m.; closed on weekends and public holidays.)
※ The maximum annual interest rate of 3.25% consists of the base interest rate of 2.75% per annum plus a preferential interest rate of up to 0.50% per annum. The preferential interest rate is provided when specific conditions, such as maintaining Shinhan Bank as the designated foreign exchange bank, are met. (As of September 23, 2026, before tax)
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