The Korea Herald

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SC Bank Korea offers special rate for new customers

By Hwang Joo-young

Published : April 24, 2024 - 05:48

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Employees promote SC Bank Korea's money market deposit accounts. (SC Bank Korea) Employees promote SC Bank Korea's money market deposit accounts. (SC Bank Korea)

Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts.

Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest.

The promotional rate is offered to first-time customers of SC Bank Korea who open accounts by April 30. The promotion will end when the total deposited by eligible customers reaches 100 billion won.

“In response to the increasing demand for products that offer high-interest benefits in the short term, we’re showcasing this special interest rate product promotion,” said Bae Soon-chang, chief of SC Bank Korea’s deposit products department.

“We look forward to receiving a lot of attention as we prepare the product in the hope of providing our first transaction customers with the most competitive interest rates in the industry.”