SC Jeil Bank, Special Interest Rate for First-Time Individual Customer MMDA Subscription

[Asia Economy Reporter Kim Hyo-jin] SC First Bank announced on the 10th that it will hold an event until the end of this month, offering a special interest rate benefit of 1.0% per annum (before tax) on the daily balance for up to 60 days from the date of new subscription when first-time individual customers subscribe to the Daily Compound Interest Savings Deposit (MMDA) with 100 million KRW or more (up to 1 billion KRW).

The Daily Compound Interest Savings Deposit is a demand deposit-type savings account that pays interest differentially based on the daily balance. The more you deposit, the higher the interest rate you receive, making it mainly a parking account used by high-net-worth individuals to temporarily park their funds.

Subscriptions can be made at SC First Bank branches until the 31st of this month, with a subscription limit of 100 million to 1 billion KRW per individual. The event will end early once the total recruitment limit of 100 billion KRW is reached. If the deposit balance falls below 100 million KRW during the special interest rate period or the special interest rate period ends, the basic contracted interest rate of the Daily Compound Interest Savings Deposit will apply.

The basic contracted interest rates for the Daily Compound Interest Savings Deposit are 0.3% per annum for balances of 100 million KRW or more, 0.2% per annum for balances between 50 million KRW and less than 100 million KRW, and 0.1% per annum for balances less than 50 million KRW, with interest calculated daily on a compound basis.

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