CU, Pepper Savings Bank Offers Savings Account with Up to 6% Annual Interest Rate

Base Interest Rate 5.5% + Preferential Interest Rate 0.5%
CU Points Paid in 1% Monthly Installments

CU announced on the 22nd that it is partnering with Pepper Savings Bank to offer the 'Peppers Partnership Installment Savings with CU' (hereinafter referred to as Peppers Partnership Installment Savings) with an interest rate of up to 6%.

CU has partnered with Pepper Savings Bank to offer the 'Peppers Partnership Savings with CU' (hereinafter referred to as Peppers Partnership Savings) through its own commerce app, Pocket CU, with an interest rate of up to 6%.
[Photo by BGF Retail]

The Peppers Partnership Installment Savings offered by CU is a fixed product with a basic interest rate of 5.5% per annum, which is one of the highest rates among regular installment savings products currently available in the market. By agreeing to receive marketing communications, an additional preferential interest rate of 0.5% is added, resulting in a maximum annual interest rate of 6%.

Additionally, when subscribing to the installment savings, CU points equivalent to 1% of the monthly deposit amount are paid monthly in advance before maturity, allowing customers to receive benefits of up to 7% per annum.

Unlike other deposit products that require meeting additional conditions such as using a certain amount on a credit card to apply the highest interest rate, the biggest difference with the Peppers Partnership Installment Savings is that it offers the highest annual interest rate of 6% without any specific conditions.

To subscribe to the installment savings, customers can obtain a Peppers Partnership Installment Savings subscription coupon from PocketCU, enter the coupon number in Digital Pepper, the app linked to Pepper Savings Bank, and then subscribe to the product.

The Peppers Partnership Installment Savings is an online-only subscription product limited to a total of 10,000 accounts. Sales start on a first-come, first-served basis from today and will automatically end once all accounts are sold out. The entire process, from opening a deposit and withdrawal account to subscribing to the installment savings, can be completed via mobile.

CU expects to generate new customers and achieve a broad customer attraction effect through the Peppers Partnership Installment Savings.