Daegu Bank to Launch Short-term Savings with Up to 20% Annual Interest on the 5th of Next Month: "Pre-registration and Account Opening Required"

60-Day Maturity Short-Term Product... Limited Sale of 320,000 Units

DGB Daegu Bank is launching a savings product offering an annual interest rate of up to 20% to commemorate its transition to a commercial bank. With unprecedented high-interest products drawing attention, Daegu Bank has urged customers to pre-register for the iM Bank app and pre-apply for deposit and withdrawal accounts.

Daegu Bank announced on the 29th that from 10 a.m. on June 5 to July 7, it will sell a limited 320,000 accounts of the short-term small-amount savings product called 'Sincere Savings for Customers' through the iM Bank application (app).

This product is a 60-day maturity, flexible installment savings account, allowing one account per person with a basic interest rate of 4.0%. The initial new deposit amount is 0 KRW (deposits can be made from the day of new registration), with payment amounts ranging from 100 KRW to a maximum of 50,000 KRW per deposit (one deposit per day), up to a total of 60 deposits.

Preferential interest rates of up to 16 percentage points are applied depending on the deposit conditions. The preferential interest rates are divided into daily preferential interest (up to 6% per annum) with cute animations for daily deposits and additional plus preferential interest (up to 10% per annum). The daily preferential interest is 0.1 percentage points per deposit, while the plus preferential interest is 2 percentage points per annum for 40 deposits, 3 percentage points for 50 deposits, and 5 percentage points for 60 deposits.

Daegu Bank recommended pre-registration for the iM Bank app and pre-application for deposit and withdrawal accounts, anticipating a surge in app access on the day of product subscription. This is to ensure smooth subscription on the day of product launch, as it is a non-face-to-face online exclusive product.

Considering that this product requires direct deposits through a linked DGB Daegu Bank account in the iM Bank app rather than automatic transfers, Daegu Bank explained that completing both app registration and pre-application for deposit and withdrawal accounts in advance will facilitate smooth usage on the product launch day, June 5.

Hwang Byung-woo, President of Daegu Bank, stated, “While contemplating various ways to provide benefits and surprises to customers in celebration of our transition to a commercial bank and name change, we decided to launch this product to convey the bank’s sincere desire to be small but meaningful and helpful to customers.” He added, “We hope many customers will participate in the 100-day festival of the iM Bank Re-Born Festival, a customer appreciation event for the commercial bank transition, which includes 100% foreign exchange rate discounts on overseas simple payments, exemption of payment fees, prize roulette events, a 0.32 percentage point preferential rate on non-face-to-face credit loans, DGB joint deposits with up to 4.15% annual interest and gold bar lottery events, and a music playlist service exclusively for teenagers (ages 14 to 18).”