Standard Chartered Bank Korea is running a deposits rate promotion that offers a maximum annual rate of up to 4.0%.
On the 14th, Standard Chartered Bank Korea said it will run a promotion through Dec. 31 offering a special annual rate of 3.4 percentage points (p), regardless of deposits balance size, to first transaction customers who open the "SC Jeil Hi account" (Hi account), a deposits product with free withdrawals and deposits.
If both the special rate and various preferential rates are applied, customers can receive a maximum annual rate of 4.0% (before tax).
For this promotion, the special rate end date is Jan. 31, 2027, regardless of the sign-up date, so the earlier the sign-up, the longer the special rate applies. For example, a customer who signs up on Sept. 14, the start date of the promotion, can receive the special rate of 3.4 percentage points for about four months until Jan. 31, 2027.
First transaction customers eligible for this promotion are either new customers whose information was registered with Standard Chartered Bank Korea within 31 days or existing customers who have not held Standard Chartered Bank Korea won or foreign-currency checking accounts or time/savings deposits accounts in the past year. Accordingly, not only new customers but also those without transactions for a certain period are included for the special rate benefit.
The Hi account's base rate is 0.1% per year, and for this product, first transaction customers receive a preferential rate of 1.2–2.0 percentage points per year depending on the deposits balance tier. However, during the special rate promotion period, 3.4 percentage points are offered regardless of the deposits balance tier.
Adding the partner channel new sign-up preferential rate of 0.1 percentage point per year (during the special rate promotion period, offered when opening via mobile banking or a branch) ▲ the marketing consent preferential rate of 0.2 percentage point per year ▲ the Priority Banking customer tier preferential rate of 0.2 percentage point per year, the maximum annual rate comes to 4.0%.
The Hi account is a deposits product that allows free withdrawals and deposits and also offers various fee waivers, such as internet/mobile banking transfer fees and ATM withdrawal fees.
Jeong Jae-won, head of the collateral lending/deposits products division at Standard Chartered Bank Korea, said, "We hope more customers can experience the Hi account's differentiated benefits through this promotion."