SC Jeil Bank Launches Sustainable Fixed Deposit 'Eco-Friendly Biwoom Deposit'

Up to 100 Billion KRW Limit... 12-Month Maturity with 3.31% Annual Interest Rate Offered

[Asia Economy Reporter Yu Je-hoon] SC First Bank announced on the 25th that it has launched a sustainable financial product called 'SC First Eco-Friendly Bi-um Deposit' (hereinafter referred to as Eco-Friendly Bi-um Deposit).

The Eco-Friendly Bi-um Deposit is a 12-month fixed deposit product offering an interest rate of 3.31% without any special conditions, combining a base interest rate of 3.28% per annum with a promotional preferential rate of 0.03 percentage points (p) to commemorate its launch. It can be easily subscribed to at SC First Bank branches nationwide and through the mobile banking application. The subscription amount per account ranges from 1 million KRW to less than 500 million KRW, and there is no limit on the number of accounts one person can open. However, sales may end early once the sales limit of 100 billion KRW is reached.

The Eco-Friendly Bi-um Deposit is characterized by the fact that the funds raised through product subscriptions are supplied to environmental, social, and governance (ESG) finance such as green finance, sustainable social infrastructure projects, microfinance (unsecured small loans for low-income groups), and small and medium-sized enterprise finance, in accordance with the 'Green and Sustainable Product Framework' of Standard Chartered (SC) Group, the parent company of SC First Bank.

SC First Bank is also conducting a customer prize event to commemorate the launch of the Eco-Friendly Bi-um Deposit. Customers who subscribe to the deposit and enter the prize event by the 31st of next month will be entered into a draw to win eco-friendly items: 1st prize (1 person) - Samchully folding electric bicycle, 2nd prize (5 people) - Patagonia clothing set, and 3rd prize (94 people) - Continue card wallet. Additionally, the first 1,000 customers who subscribe via mobile banking will receive an Eco Bag and Tumbler, which are Bi-um starter kits.

Park Jong-kwan, Head of Collateral Loan and Deposit Products Division at SC First Bank, said, "The Eco-Friendly Bi-um Deposit offers an opportunity to enjoy the high interest benefits of fixed deposits while practicing Bi-um (Net Zero) by considering the environment and society." He added, "We plan to hold special interest rate events on occasions such as Environment Day and Earth Day to raise awareness about nature and the environment and provide interest benefits."