Strong Performance and Preferential Rates... BNK Busan Bank Launches 'BNK Open Banking Time Deposit'

Base Rate of 2.20%
Up to 2.90% Annual Rate with Open Banking Usage Benefits

BNK Busan Bank has launched an open banking time deposit product offering preferential interest rates.

On November 19, Busan Bank announced the release of the "BNK Open Banking Time Deposit," which connects online and offline open banking services to enhance financial convenience.

This product features a base annual interest rate of 2.20%, with the rate increasing up to 2.90% per annum when open banking usage and transaction conditions are met.

Customers who transfer funds deposited at other banks to Busan Bank via open banking and newly subscribe to the product will receive an additional preferential rate of 0.30 percentage points. Furthermore, if customers meet the open banking deposit requirements during the subscription period, an extra 0.10 percentage points will be added.

Additionally, customers can receive a 0.20 percentage point bonus for increasing their average balance in their transaction account, and a 0.10 percentage point preferential rate based on credit (or debit) card usage.

The product is available to individual customers, with each person eligible for one account through Busan Bank branches or the mobile banking app. The subscription period is either 6 months or 12 months, and the deposit amount must be between 1 million and 10 million won.

Busan Bank is also holding an event until December 22, where customers who subscribe to the "BNK Open Banking Time Deposit" with at least 5 million won transferred via open banking will be randomly selected to receive Starbucks gift certificates (50 winners).

Shin Sik, Head of the Individual Customer Group at Busan Bank, stated, "We have included a variety of preferential conditions in the 'BNK Open Banking Time Deposit' to provide tangible interest rate benefits for customers utilizing open banking," adding, "We will continue to introduce a range of products to make financial services even more convenient for our customers."

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