NongHyup Bank Launches 'Primary Account Preferred Foreign Currency Savings' Offering Cross-Preferential Interest Rates

Cross-Preferential Interest Rates Offered for KRW and Foreign Currency Products Subscribed Within Package Deals

[Asia Economy Reporter Park Sun-mi]NH Nonghyup Bank announced on the 14th that it will launch a new product, 'NH Main Transaction Preferential Foreign Currency Installment Deposit,' which offers cross-preferential interest rates when subscribing to a Korean won and foreign currency package product, on the 16th.

Existing customers who subscribe to 'NH Main Transaction Preferential Installment Savings (Korean won)' will receive a 0.1% preferential interest rate when subscribing to 'NH Main Transaction Preferential Foreign Currency Installment Deposit,' and if both products are newly subscribed to simultaneously, they can receive a 0.1% preferential interest rate for each. Customers aged 34 or younger and those who register for automatic transfers will also receive an additional 0.05% preferential interest rate each.

This product can be subscribed to at branches, internet banking, and smart banking, and is an installment foreign currency deposit product that allows flexible deposits of $10 or more. The subscription period is a single 12 months, and the subscription currency is the US dollar. Until the end of November this year, up to 90% preferential exchange rates will be applied for deposit and withdrawal transactions.

As a launch event, from the 19th to November 30th, 300 customers who simultaneously subscribe to 'NH Main Transaction Preferential Foreign Currency Installment Deposit' and 'NH Main Transaction Preferential Installment Savings (Korean won)' will be selected by lottery to receive Starbucks gifticons.

Kim Pyeong-tae, head of the foreign exchange business division, said, “Due to the increased volatility in the financial environment caused by COVID-19, dollar financial products, which are safe assets, are gaining attention,” and added, “By launching the foreign currency installment deposit in the form of a package product with Korean won installment savings for the first time in the banking sector, we expect to contribute to increasing customers’ foreign currency assets.”

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