Gwangju Bank announced on the 4th that it has launched the ‘365 Parking Account,’ a deposit product with free withdrawals that offers unconditional fee waivers and interest benefits to first-time customers.
The ‘365 Parking Account’ is a non-face-to-face exclusive product that does not require visiting a branch, and applies differentiated interest rates based on balance tiers without any additional conditions.
Eligible applicants are individuals aged 17 or older with real names (Korean nationals, one account per person) who have no history of holding a deposit account with free withdrawals at Gwangju Bank in the six months prior to the subscription date. The product is available up to a total of 20,000 accounts and sales may end once the limit is reached.
For amounts up to 10 million KRW, an annual interest rate of 3.00% is applied; for amounts exceeding 10 million KRW and up to 100 million KRW, 2.00% per annum; and for amounts exceeding 100 million KRW, a basic interest rate of 0.01% per annum is applied according to the balance tiers.
For accounts opened by December 4 of next year, an event preferential interest rate of 0.50%p (points) will be applied to the balance tier up to 10 million KRW, allowing for a maximum annual interest rate of 3.50%.
While existing deposit accounts provide interest monthly or quarterly, the ‘365 Parking Account’ offers the financial benefit of paying interest every Saturday.
Additionally, it enhances user convenience by unconditionally waiving fees for three essential banking transactions (electronic fund transfers, ATM withdrawals, and automatic payer transfers).
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