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SC Bank offers 3.6% interest rates for new account holders

June 29, 2023 - 14:14 By Kim So-yeon
SC Bank Korea offers special high-interest rates for first-time customers who open a Jaeil EZ account. (SC Bank Korea)

Standard Chartered Bank Korea said Thursday that it is offering a promotion for new clients signing up for its Jaeil EZ account, promising first-time customers interest rates of up to 3.6 percent per year, even for just one day of deposit.

The promotion, which launched on June 20 and runs until July 7, offers every new client 3,000 won ($2.28) worth of Naver Pay points, a points reward program of the country's largest portal. Customers need to agree to receiving mobile newsletters and mobile notifications.

The high-interest parking account provides a basic interest rate of 2.6 percent, the bank said, but first-time customers will receive an additional interest rate of 1 percent for six months from the opening date of the account, free of any conditions or deposit limits. They will also be exempt from various fees such as mobile and internet banking transfer fees.

"Customers who prefer high-interest deposits for short-term idle funds have shown a high level of interest in transactional parking accounts," said Bae Soon-chang, head of SC Korea’s savings products department.

"The highly competitive interest rates and promotion benefits provided by the Jaeil EZ account will be a great opportunity for customers seeking parking accounts,” Bae added.

Furthermore, on June 12, SC Bank raised the basic interest rate of its online-exclusive fixed deposit product, e-Green Save Deposit, to 3.8 percent, a 0.1 percent point increase. With the application of a first-time interest rate of 0.2 percent and a bonus interest rate of 0.1 percent, customers can receive a maximum interest rate up to 4.1. However, in order to receive the bonus interest rate, customers must withdraw from the SC Jaeil My 100 account in order to join e-Green Save, which has a maximum deposit of 10 million won ($7,600).