Alternative Funds for 'Investment Waiting' During Interest Rate Cuts
Jeonbuk Bank (President Baek Jong-il)'s high-interest parking account, the 'Seedmoa Free Deposit and Withdrawal Account,' is gaining popularity. This comes as deposit and savings interest rates have recently started to decline significantly, reducing the attractiveness of interest rates for investors.
Jeonbuk Bank's high-interest parking account, 'Seedmoa Free Deposit and Withdrawal Account'. Provided by Jeonbuk Bank
The Seedmoa account offers a high basic interest rate of 2.8% on the daily balance for first-time customers of Jeonbuk Bank. Adding a promotional preferential interest rate of 0.71% per annum, it provides a maximum annual interest rate of 3.51%. The preferential rate applies during the event period until the end of this year and includes ▲0.5% for marketing consent ▲an additional 0.21% if the daily final balance is 300 million KRW or more. These benefits are provided for three months from the date of subscription.
Additionally, deposits and withdrawals are easy without any restrictions on the deposit period or frequency, while offering attractive interest benefits. For those looking to store funds or invest lump sums maturing at the end of the year, Jeonbuk Bank's Seedmoa account is emerging as a popular parking account. Detailed information can be found on Jeonbuk Bank's mobile banking app 'SsokBank' or by contacting Jeonbuk Bank's customer center.
A representative from Jeonbuk Bank stated, "With the base interest rate cut leading to lower deposit rates and increased uncertainty due to the stock market downturn, the Seedmoa account appears to have become a new option for financial consumers who need to manage large sums of money." He added, "Placing funds in a high-interest parking account that ensures stability and allows deposits and withdrawals at any time while observing the market could be a good investment strategy in times like these."
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