Standard Chartered Bank Korea has introduced a new demand deposit product called the SC Jeil Wealth Saver Account, which offers an annual interest rate of up to 2.8 percent. The account is designed to support both asset growth and liquidity, and the interest rate is linked to the customer’s overall banking relationship with the bank. The rate varies depending on the total balance held across products such as demand deposits, funds, and trusts, ranging from 1.0 to 2.8 percent. New account holders will receive the 2.8 percent rate for the first month, regardless of their balance.
The account has a tiered interest rate system, where higher rates are applied to the portion of the customer’s balance that exceeds their baseline funds from three months prior. To qualify for the higher rates, customers must meet minimum thresholds in account balance increases and diversified product holdings. The base interest rate is 0.1 percent, and customers can earn higher rates by meeting certain conditions.
To promote the new account, SC Bank Korea is running a special event until June 30. Customers who invest at least 20 million won ($14,620) in eligible financial products and maintain an average monthly balance of 50 million won or more in the new account can receive Shinsegae gift certificates worth up to 1 million won. Customers can register for the event through the bank’s mobile app.
According to a Standard Chartered Bank Korea official, the SC Jeil Wealth Saver Account is designed to help customers grow their assets steadily while maintaining liquidity, especially in today’s uncertain financial environment. The account is intended to provide customers with a flexible and rewarding way to manage their finances and achieve their long-term financial goals. With its competitive interest rates and tiered reward system, the SC Jeil Wealth Saver Account is an attractive option for customers looking to grow their wealth and maintain liquidity.