SBI Savings Bank Launches "Cider Bank Coffee Installment Savings"

"Receive 2% Annual Compound Interest and Two Coffee Coupons Each Month
When Depositing 100,000 Won Monthly"

SBI Savings Bank announced on July 2 that it will launch the "Cider Bank Coffee Installment Savings" product on July 7.

The Cider Bank Coffee Installment Savings product offers interest and two coffee coupons every month when customers deposit 100,000 won monthly.

The subscription period is six months, with a base interest rate of 2% (monthly compound interest). If customers meet the deposit condition of 100,000 won per month, they will receive a total of 12 coffee coupons.

When including both the interest and the coffee coupon benefits, the effective annualized rate is approximately 15%.

The Cider Bank Coffee Installment Savings will be available to 30,000 customers on a first-come, first-served basis, with 10,000 subscriptions accepted each month from July to September.

A special launch event will also be held. For three months starting this month, the first 1,000 customers to sign up for the Coffee Installment Savings each month will receive an additional coffee coupon.

An SBI Savings Bank representative stated, "The newly introduced Coffee Installment Savings is an ideal product for customers who want both to save a lump sum and to receive practical benefits, as it provides not only deposit interest but also essential daily perks. We will continue to strive to maximize customer satisfaction by offering innovative products and services."

The Cider Bank Coffee Installment Savings can be subscribed to through the Cider Bank application. It is not available at branches or through internet banking.