SC First Bank announced on the 27th that it has launched the 'SC First Wealth Saver Account,' which offers a maximum annual interest rate of 2.8% (before tax) for transactions with free deposits and withdrawals.
The interest rate is determined based on the bank's transaction performance on the last business day of the previous month during the interest calculation period, with a maximum annual rate of 2.8%. The bank's transaction performance is defined as the total balance of deposits held under the name of the deposit account holder in SC First Bank, including profit securities (funds), trust contracts, and both won and foreign currency deposits as of the last business day of each month.
This product features that only the amounts increased compared to the last business day transaction performance on the reference point three months before account opening are applied from the daily balance.
To qualify for this interest rate, the increased amount of 'comparison bank transaction performance' compared to the 'benchmark bank transaction performance' must exceed 10 million won, and the combined balance of comparison bank transaction performance's deposits (both won and foreign currency) must be more than 20 million won, while the combined balance of revenue securities (funds) and trust contracts must also exceed 20 million won.
Depending on transaction performance, interest rates are as follows: annual 2.8% for over 1 billion won, annual 2.6% for over 300 million won, annual 2.4% for over 100 million won, and annual 1.0% for below 100 million won. If the increase in bank transaction performance is less than 10 million won or if remaining balances excluding the increased amount are considered, a base interest rate of 0.1% applies. From the account opening date until the end of the month of opening, the highest rate of 2.8% for the transaction performance over 1 billion won applies regardless of performance.
For instance, if a customer newly opening an account at SC First Bank deposits 100 million won and subscribes to a fund of 40 million won on May 2 of this year, the customer's bank transaction performance will be 140 million won. All of this is recognized as increased amounts.
The first interest payment received on June 2 will relate to the interest accrued during the May interest calculation period (May 2 - June 1) and will be applicable at the highest rate corresponding to the transaction performance over 1 billion won. During the June interest calculation period (June 2 - 30), an interest rate of 2.4% can be applied within a limit of 140 million won.
A launch commemorative event will also take place. Customers who subscribe to qualifying investment products for over 20 million won by the end of next month and maintain a monthly average balance of over 50 million won for two months starting the month following the subscription will receive a 100,000 won gift voucher.
If the average balance is over 100 million won, a 150,000 won gift voucher can be received; for an average balance over 300 million won, a 300,000 won voucher; and for an average balance over 1 billion won, a 1 million won voucher can be received.