5% Annual Interest... Limited Edition Savings Linked to 'SPOTV NOW' OTT

IBK Industrial Bank 'IBK SPOTV NOW Savings Account'

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank has signed a business agreement with the sports content platform SPOTV and is receiving positive responses by launching a savings product that offers exceptional interest rate benefits in the zero-interest rate era.

Since March, IBK has been selling the ‘IBK SPOTV NOW Savings’ product, which offers an interest rate of up to 5%. The base interest rate is 0.5% per annum, and customers who make three or more payments for the online video service (OTT) ‘SPOTV NOW’ using an IBK BC Card receive an additional 2.5%p per annum. Customers who set up three or more automatic transfers from their IBK deposit and withdrawal accounts to this product receive an additional 1.0%p per annum preferential interest rate. Additionally, all customers who subscribe by the end of this year will receive an extra 1.0%p event interest rate.

The product is available to individual customers with a maximum subscription period of six months. The monthly deposit amount is capped at 200,000 KRW and is limited to the first 10,000 subscribers on a first-come, first-served basis. Subscriptions can be made through the smart banking app i-ONE Bank and the mobile-only branch IBK Cube.

Furthermore, IBK is holding a launch commemorative prize event for customers who subscribe by the 30th of this month, where 45 winners will be selected by lottery to receive Son Heung-min and Ryu Hyun-jin jerseys and Starbucks gifticons. An IBK representative stated, “We will continue to provide competitive convergence products and services through partnerships with highly preferred services in the non-face-to-face era.”