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| Standard Chartered (SC) Bank Korea offers up to 3.6 percent interest rates for customers who open a Jaeil EZ Account. Courtesy of SC Bank Korea |
By Lee Yeon-woo
Standard Chartered (SC) Bank Korea is running a promotional event offering high-interest returns for new customers who open a Jaeil EZ Account by the end of May. The bank offers an annual interest rate of up to 3.6 percent on a pre-tax basis, even if account holders deposit money for just a single day.
The event also features a lottery-based reward system for customers who open an account and submit their applications by May 31. Customers receive one lottery entry per 1 million ($753) in their account balance as of May 31, meaning the larger the deposits the greater the chances of winning a prize.
One first-place winner will receive a Shinsegae gift certificate mobile exchange coupon worth 1 million won. The three runners-up will each be rewarded with gift certificates worth 500,000 won. Ten third-place winners will each receive gift certificates worth 100,000 won. Lastly, 100 fourth-place winners will receive two Starbucks Americano coupons each.
The Jaeil EZ Account primarily provides a 2.6 percent annual interest rate. However, first-time customers receive an additional bonus of one percentage point for six months from the date of account opening. Plus, customers are exempt from various charges, including internet and mobile banking transfer fees, as well as withdrawal fees for automatic transactions outside of business hours.
"Since the base interest rate of Jaeil EZ Account was raised to 2.6 percent last December, the account has gained popularity due to its fee-free deposits and withdrawals, despite the high interest. The total balance of the account recently surpassed 1 trillion won," said Bae Soon-chang, head of the deposit product department at SC Bank Korea. "We have prepared events for various products, which can be chosen based on individual savings goals."
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