SC First Bank Offers 4.2% Special Interest Rate Event for Negotiable Certificate of Deposit Customers

[Asia Economy Reporter Song Seung-seop] SC First Bank will offer a special interest rate of 4.2% to customers holding negotiable certificates of deposit (CD) until the 7th of next month.

The condition is that first-time customers subscribe to a 1-year maturity CD with a minimum of 30 million KRW at an SC First Bank branch. The special interest rate will be applied for one year from the date of new subscription. The total recruitment limit is 300 billion KRW. The offer will end early once the limit is reached.

A CD is a product that grants the characteristic of being transferable to others to a time deposit. Unlike general deposit products, early termination before maturity is not allowed, and it is a non-depositor-protected product not covered by the Korea Deposit Insurance Corporation for principal and interest protection.

Baesoonchang, Head of Deposit Products at SC First Bank, said, “In a situation where domestic and international economic and interest rate volatility is high, the number of customers who want to manage their surplus funds with high returns is increasing,” adding, “We expect to expand choices for customers who want to diversify their surplus fund management options.”

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