IBK Industrial Bank, Launches IBK Personal Deposit-Withdrawal Account - Money Box

IBK Industrial Bank announced on the 2nd that it will launch the ‘IBK Personal Deposit and Withdrawal Account,’ which includes a high-interest parking vault called Money Box.

This account is a deposit and withdrawal account that waives fees such as electronic financial transfer fees and automated machine transfer/withdrawal fees unconditionally for any individual customer.

The Money Box is a parking vault linked to the IBK Personal Deposit and Withdrawal Account where surplus funds can be temporarily deposited. The deposit limit is 20 million KRW, and it offers an annual interest rate of up to 3% even if deposited for just one day.

The interest rate consists of a base rate of 1% per annum, plus a preferential interest rate of 1% per annum if the customer meets at least one of the following conditions in the previous month’s IBK Personal Deposit and Withdrawal Account: ▲salary transfer performance ▲pension receipt performance ▲card and simple payment (Pay) withdrawal performance. Additionally, first-time customers of IBK Industrial Bank receive a special preferential interest rate of 1% per annum for six months from the date of subscription.

The new Money Box product will be sold on a first-come, first-served basis to a total of 100,000 customers, including 70,000 first-time IBK customers and 30,000 existing customers. Only one IBK Personal Deposit and Withdrawal Account and Money Box can be opened per person.

An IBK Industrial Bank official stated, "IBK Industrial Bank provides top-level savings and deposit products not only for corporate customers but also for individual customers, and launched this new product to reinforce the image that ‘IBK is also for individuals.’"

Meanwhile, on the same day, IBK launched the installment savings product ‘IBK Moeugi Account,’ which offers preferential interest rates solely through automatic transfers, and the lump-sum savings product ‘IBK Gulligi Account,’ which minimizes complex preferential conditions while providing high interest rates.