Gwangju Bank Launches 'Ijameonjeo Wa Savings' Account
Gwangju Bank announced on the 31st that it has launched the ‘Interest-First Wa Deposit,’ which allows customers to receive maturity interest immediately upon subscription without waiting until maturity.
The ‘Interest-First Wa Deposit’ offers subscription periods of 3 months and 6 months, making it useful for short-term fund management. The basic interest rates are 3.25% per annum for 3 months and 3.27% per annum for 6 months. Interest is immediately prepaid to a linked deposit and withdrawal account upon subscription, and taxes are withheld from the principal at the time of deposit termination.
Subscriptions can be made through Gwangju WaBank (APP) and mobile web banking (WEB) without visiting a branch. The minimum subscription amount is 1 million KRW, and customers can open accounts without limit, up to a maximum of 500 million KRW per customer.
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Since the ‘Interest-First Wa Deposit’ allows withdrawal of maturity interest immediately upon subscription, financial consumers are expected to benefit from the convenience of fund management by using the interest first for living expenses or reinvestment.
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