Busan Bank Launches 'The Special Term Deposit' to Celebrate 53rd Anniversary

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] BNK Busan Bank is celebrating its 53rd anniversary by launching a new non-face-to-face time deposit product and conducting a special time deposit promotion at branches for the elderly.

The newly launched non-face-to-face exclusive time deposit product, "The Special Time Deposit," will be sold on a limited-time basis from October 19 with a cap of 100 billion KRW.

The subscription target is individuals, and it is a one-year time deposit available for subscription through Busan Bank mobile banking with a minimum of 3 million KRW and a maximum of 10 million KRW.

The interest rate offers a basic rate of 1.0% per annum plus a preferential rate of up to 0.4%p, providing a maximum annual interest rate of 1.40%. The preferential rate includes 0.30%p for new subscriptions to the time deposit by withdrawing from other banks' accounts via Busan Bank open banking, and 0.10%p for agreeing to financial information benefit notifications (Push) on Busan Bank mobile banking.

Busan Bank is also implementing a branch-exclusive special promotion for the elderly with a total limit of 53 billion KRW. This special promotion, which adds preferential interest rates to the existing "Baekse Cheongchun Silver Time Deposit" product rates, is available for subscription at Busan Bank branch counters.

The subscription target is individuals aged 65 or older, with a minimum of 5 million KRW and a maximum combined subscription of 100 million KRW per person. Subscribing to the one-year product qualifies for the special promotion interest rate.

The special promotion interest rate applies up to 0.20%p preferential rate on the basic rate by age group, providing a maximum annual interest rate of 1.35% (based on customers aged 80 or older). The preferential rate includes 0.10%p for customers who agree to marketing and 0.10%p for customers with new automatic payment performance for utility bills.

To celebrate its anniversary, Busan Bank will hold a customer appreciation event on the 23rd, offering rice cakes, beverages, and more at all branch counters, and will also provide fee exemption services for all customers on four items (branch remittance fees, certificate issuance fees, accident report fees, and passbook reissuance fees).

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