Korean lender promises high interest rates
Standard Chartered (SC) Bank Korea announced on April 22 that it had launched a marketing event of guaranteeing high interest rates to new customers.
The product, dubbed the “SC My Signature Account,” will be available to new clients through May 31 with annual interest rates of up to 2 percent.
In case transactions top 100 million won in a specific month, the customer would receive the 1.7 percent interest rate for funds saved longer than a month.
And newcomers would gain a bonus rate of 0.3 percent so that the maximum total can reach 2 percent, according to the Seoul-based lender.
Through a lottery, SC Bank also plans to provide presents to customers whose balance is higher than 100 million won as of the end of this June.
Included in the gift list are massage chairs, air purifiers, iPad Air, and department store gift certificates.
Since its debut last July, the SC My Signature Account has won the hearts and minds at a time when great uncertainties lingered in the market.
“The SC My Signature Account is a checking account but offers generous interest rates. Hence a mounting number of folks want to savor its benefits,” an SC Bank official said.
“We also have other checking accounts, which are helpful to people at a time when the borrowing costs are set to go up.”