SC First Bank Offers Special MMDA Interest Rate for First-Time Customers

Up to 2.4% Annual Rate
Available for Deposits of 30 Million Won or More
Offered for Up to 60 Days

SC First Bank is holding a special event until June 30, offering first-time customers who open an Ilbokri Savings Deposit (MMDA) account with a deposit of at least 30 million won (up to a maximum of 2 billion won) at a branch the benefit of a special interest rate of up to 2.4% (pre-tax) per day on their balance for up to 60 days.

The Ilbokri Savings Deposit is a demand deposit account that features compound interest, with rates varying according to the daily balance. The higher the deposit, the higher the interest rate, making it a popular parking account for high-net-worth individuals who want the flexibility to deposit and withdraw funds freely.

The base interest rates for this product, depending on the balance, are as follows: 0.6% for balances of 100 million won or more, 0.3% for balances between 50 million and 100 million won, 0.2% for balances between 30 million and 50 million won, and 0.1% for balances below 30 million won. Interest is calculated daily on a compound basis.

During the event period, new customers who open this account with a deposit of at least 30 million won will receive the maximum interest rate of 2.4%. However, if the balance falls below 30 million won during the event period, the base interest rate of 0.1% for the Ilbokri Savings Deposit will apply for that day.

The total recruitment limit is 100 billion won, and the event will end early if this limit is reached. If the 60th day from the special interest rate registration date falls on a holiday, the special rate will be applied until the previous business day.

Bae Soonchang, Head of Deposit Products at SC First Bank (Managing Director), stated, "As volatility in domestic and global economies and markets increases, we are receiving many inquiries from customers seeking a place to park their short-term surplus funds." He added, "To meet the diverse needs of these customers, we are running both the Ilbokri Savings Deposit Special Interest Rate Event and the First Fixed Deposit Special Interest Rate Event, offering competitive interest rate benefits."