Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
SC Bank Korea launches special interest rate promotion for new customers
A promotional image for Standard Chartered (SC) Bank Korea / Courtesy of SC Bank Korea
By Lee Yeon-woo
Standard Chartered (SC) Bank Korea said Sunday it is offering a special promotional interest rate for the SC Cheil Hi Account, a flexible deposit account that allows customers to make unlimited deposits and withdrawals.
Under the promotion, customers can earn up to 2.6 percent per annum (pre-tax) by meeting certain preferential rate conditions. The account offers a base rate of 0.1 percent, with up to 2.5 percentage points available through additional incentives.
To qualify for the preferential rate, first-time customers — defined as those who open an account within 31 days of becoming a new SC Bank Korea customer — can earn an additional 1.2 to 2 percentage points, depending on their account balance.
Additional bonuses are available for eligible customers, including 0.1 percentage points for accounts opened through a partner channel, 0.2 percentage points for consenting to receive marketing communications and 0.2 percentage points for customers with "primary status" or higher at the bank.
The preferential interest rate for first-time customers is valid for one year from the date of opening the account, and may be extended in one-year increments if qualifying conditions are met.
What's notable is that all first-time customers will receive a flat preferential rate of 2 percentage points this year, regardless of their daily account balance, as part of the current promotion.
Beginning Jan. 1, 2026, after the promotional period ends, the preferential rate for new customers will return to a tiered structure based on daily balance: 1.2 percentage points for balances under 100 million won ($72,191), 1.6 percentage points for balances between 100 million won and 300 million won, and 2 percentage points for balances exceeding 300 million won.
"The account offers not only the flexibility of free deposits and withdrawals, but also one of the highest interest rates in the industry along with various fee waivers," an SC Bank Korea official said.