Gwangju Bank Launches 'Jungdohaeji Gwaenchana Wa Deposit'

Gwangju Bank announced on the 23rd the launch of a non-face-to-face exclusive deposit product called “Jungdohaeji GwaenchWa Deposit,” which allows customers to receive a certain interest rate without any disadvantages even if they terminate the deposit early after 3 months of subscription.

The ‘Jungdohaeji GwaenchWa Deposit’ does not pay the full contracted interest rate if terminated before maturity, but it is expected to be very helpful for short-term fund utilization by offering higher early termination interest rates by deposit period compared to existing deposit products after 3 months.

In case of early termination, an annual interest rate of 3.5% is provided for deposits between 3 months and less than 6 months, 3.8% for deposits between 6 months and less than 12 months, and a basic interest rate of 3.9% per annum for a 1-year maturity.

As a special interest rate event to commemorate the product launch, accounts opened by January 31 of next year and terminated at maturity will receive an additional 0.1%p preferential interest rate, allowing for a maximum annual interest rate of 4.0%.

The subscription amount ranges from a minimum of 100,000 KRW to a maximum of 10,000,000 KRW, and anyone can open up to 5 accounts per person.

This is a non-face-to-face exclusive product, and customers can easily subscribe through the bank’s smart banking app (APP) or by searching for Gwangju Bank on the internet and signing up via the mobile web without visiting a branch.

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