SBI Savings Bank Launches Special 4% Annual Interest Savings Product to Celebrate Open Banking

SBI Savings Bank's 'Saidabank' is offering a special savings product with an annual interest rate of up to 4% for customers who sign up for the service to celebrate the launch of open banking. Photo by SBI Savings Bank

[Asia Economy Reporter Song Seung-seop] SBI Savings Bank's financial platform 'Cider Bank' launched a special annual 4% installment savings product on the 20th to commemorate open banking.

According to SBI Savings Bank, starting from this day, the 'Lucky Interest Rate Installment Savings' will be sold to the first 20,000 customers who subscribe to the open banking service for two months. The subscription amount is 200,000 KRW per month, with a basic interest rate of 1.2% per year and a maturity preferential interest rate of 0.4%. Including the lucky box preferential interest rate of 2.4%, customers can receive up to 4% annually.

The Lucky Interest Rate Installment Savings is a product where customers can receive additional preferential interest rates by opening a lucky box that occurs every month. Customers who pay 200,000 KRW monthly or share the product with friends via KakaoTalk can receive up to three lucky boxes each month. The preferential interest rates received from the lucky boxes accumulate until maturity.

Kim Dae-jung, Director of Retail Marketing, stated, "Cider Bank will continue to be a financial platform that adds enjoyment."

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