SC First Bank Launches Flexible Deposit Account Offering Up to 2.8% Interest

'Wealth Saver Account' Launches
Flexible Withdrawals and Deposits,
Interest Rate Up to 2.8% per Annum

SC First Bank announced the launch of the 'Wealth Saver Account,' a new deposit account that offers flexible withdrawals and deposits, while providing an interest rate of up to 2.8% per annum (before tax) based on the customer's banking transaction volume.

The interest rate for this account ranges from a minimum of 1.0% to a maximum of 2.8%, depending on the banking transaction volume segment as of the last business day of the previous month during the interest calculation period. A key feature is that the preferential rate is only applied to the increased balance each day, compared to the 'reference banking transaction volume' on the last business day three months prior to account opening.

To qualify for the preferential rate, the increased amount of 'comparison banking transaction volume' compared to the 'reference banking transaction volume' must be at least 10 million KRW. In addition, the combined balance of demand deposits (in KRW and foreign currency) at the comparison point must be at least 20 million KRW, and the combined balance of investment funds and trust contracts at the comparison point must also be at least 20 million KRW.

Specifically, an annual interest rate of 2.8% is applied for balances of 1 billion KRW or more, 2.6% for 300 million KRW or more, 2.4% for 100 million KRW or more, and 1.0% for balances below 100 million KRW. If the increase in banking transaction volume is less than 10 million KRW, or for the portion of the daily balance that does not represent an increase, a basic rate of 0.1% is applied. However, from the account opening date until the end of the opening month, the highest rate of 2.8% for the 'banking transaction volume of 1 billion KRW or more' segment is applied, regardless of transaction performance.

A promotional event is also being held until the 30th to celebrate the launch. Customers who open a Wealth Saver Account with at least 20 million KRW in new funds and maintain an average monthly balance of at least 50 million KRW for two months starting from the month after account opening will receive a 100,000 KRW gift certificate. Customers with an average monthly balance of at least 100 million KRW will receive a 150,000 KRW gift certificate, those with at least 300 million KRW will receive a 300,000 KRW gift certificate, and those with at least 1 billion KRW will receive a 1 million KRW gift certificate.

Jung Jaewon, Head of Secured Loans and Deposit Products at SC First Bank, said, "In a highly volatile financial market, customers who transact in a variety of products will be able to manage their assets more stably through the Wealth Saver Account."