OK Savings Bank Offers Special Deposit with Contracted Interest Rate of 1.8% Even for Early Termination

[Asia Economy Reporter Minyoung Kim] OK Savings Bank has launched a special sales product, ‘Jungdohaeji OK Jeonggi Yegum 369,’ which is ‘perfectly suited’ for short-term fund management.

According to OK Savings Bank on the 6th, the special sales interest rate for this product is 1.8% per annum (before tax). Although the maturity period is 3 years, the agreed interest rate is fully applied even if the account is terminated the day after subscription without any penalty for early termination. An OK Savings Bank official explained that it is suitable for short-term management of ‘funds waiting for public offering subscription’ or ‘refunds from public offering subscriptions.’

The subscription amount ranges from a minimum of 100,000 KRW to a maximum of 3 billion KRW. The agreed interest rate changes every 3 months after subscription. OK Savings Bank provides notification services each time the interest rate of this product changes.

Subscriptions can be made at branches, internet banking, and mobile banking, and both individual and corporate customers can subscribe. Transfer fees to other financial institutions via internet banking and mobile banking are fully waived. The special sales period lasts until the end of this month.

A company official said, “This product is a popular deposit product that has achieved cumulative sales of 4.5 trillion KRW over 3 years since its launch,” adding, “Since this special sales product was prepared at a time when refunds from public offering subscriptions and other funds are flooding the short-term fund market, we expect it to attract more interest from public offering investors.”

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