SC Jeil Bank, Samsung Card Launch Savings Event with Up to 7% Annual Interest Rate

Interest Rate Benefits for the First 4,000 Applicants

[Asia Economy Reporter Ki Ha-young] SC First Bank is gaining popularity with an event offering up to approximately 7% annual interest rate benefits to the first 4,000 customers in collaboration with Samsung Card. This is attributed to the high 7% interest rate in the low-interest-rate era.

According to the financial sector on the 26th, SC First Bank is conducting the subscription event for the 'Wealth-Building Savings Set - 7% Crazy Benefits' until August 14. This event adds up to a maximum of 5.4% cashback benefits on top of the basic interest rate of 1.6% per annum (before tax) for the SC First Household Savings (regular installment savings). The additional 5.4% annual cashback benefit can be received by newly issuing an SC First Bank affiliated Samsung credit card and spending at least 300,000 KRW per month (or 3.6 million KRW annually). An SC First Bank official said, "In the ultra-low interest rate environment, customers are flocking to products with even slightly higher interest rates," adding, "Inquiries about the Wealth-Building Savings Set are also rapidly increasing."

The event is open to customers who are first-time Samsung Card users or those who have not used a Samsung credit card in the past six months. The subscription period for the savings is 12 months, and the monthly deposit amount can be chosen between 100,000 KRW or 250,000 KRW. Participation in the event is possible through the SC First Bank mobile banking app, website, or branches. Cashback amounts are paid on the 15th of the month following the maturity of the savings, but if the account is terminated early, the early termination interest rate applies, and cashback benefits are not provided. Also, even if multiple savings accounts are opened, cashback benefits are provided only once.

Cho Hyung-gi, Deputy General Manager of the Digital and Personal Banking Division at SC First Bank, said, "As interest rates continue to decline, we plan to continuously launch products and services that provide various benefits to help our customers a little more."

This content was produced with the assistance of AI translation services.