SC Jeil Bank, Special Foreign Currency Deposit Interest Rate Event Up to 4.0% Annual Percentage Rate

SC First Bank announced on the 4th that it will hold an event offering a special interest rate of up to 4.0% per annum (before tax) to customers who sign up for the 'Choice Foreign Currency Demand Deposit (US Dollar)' with free deposits and withdrawals until the 29th of this month.

The event targets first-time customers who open a Choice Foreign Currency Demand Deposit account with an amount between USD 10,000 and USD 300,000 through SC First Bank branches. A special interest rate of 3.5% is provided for deposits from USD 10,000 to less than USD 50,000, 3.8% for deposits from USD 50,000 to less than USD 100,000, and 4.0% for deposits from USD 100,000 to USD 300,000, for two months from the date of subscription. The total recruitment limit is USD 30 million, and the event will end early once the limit is reached.

Additionally, SC First Bank offers a 100% preferential exchange rate (based on the telegraphic transfer selling rate at the time of deposit subscription) for customers who exchange Korean won at branches and newly subscribe.

The Choice Foreign Currency Demand Deposit product provides benefits such as waiving one overseas remittance fee if the average balance over the past month is USD 5,000 or more, and waiving one foreign currency cash handling fee within the average balance range if the average balance over the past two months is USD 10,000 or more.

Meanwhile, SC First Bank is also running a special interest rate event for the Korean won fixed deposit product, the Eco-friendly Emptying Deposit (12-month maturity), until the 8th of this month. The Eco-friendly Emptying Deposit is an environmentally friendly product operated in sustainable finance such as green finance and sustainable social infrastructure projects. During the event period, subscribers receive a uniform interest rate of 3.3%, which includes the base rate of 3.03% plus an additional 0.27 percentage points without any separate conditions.

The subscription amount per account ranges from KRW 1 million to less than KRW 500 million, and there is no limit on the number of accounts one person can open. Subscriptions are available at SC First Bank branches nationwide and through the mobile banking app. However, sales may end early once the recruitment limit of KRW 30 billion is reached.

Park Jong-gwan, Head of Collateral Loan and Deposit Products Division at SC First Bank, said, “We have prepared various events reflecting the needs of customers who want to manage US dollars as a stable asset and those who want high fixed deposit interest rate benefits. It will be a great opportunity to receive industry-leading high interest rate benefits and global asset management services.”