Standard Chartered Bank Korea said it will offer a special interest rate of up to 2 percent per annum to new customers opening a checking account by May 31.

Launched in July last year, the SC My Signature account has been popular for its stable interest rate amid high market volatility.

For those with over 100 million won ($79,140) in SC bank transactions, an interest rate of up to 1.7 percent will be applied to the amount in deposit for 31 or more days, the bank said.

For those making their first transactions at SC Korea, an additional 0.3 percentage point will be provided, raising the per annum interest rate to 2 percent.

The promotional rate will apply to only deposits of up to 1 billion won in three months.

A lucky draw event will also be held for customers with at least a 100 million won bank balance as of the end of next month.

Prizes include an electric massage chair, three air purifiers, six iPad Air tablets, 10 department store vouchers, 50 bodywash sets and 100 Starbucks coupons.

“As the interest rates are rising, a growing number of customers are looking for slightly different products depending on how they plan to use their spare cash and how long they have held it,” said Bae Soon-chang, head of SC Korea’s savings products department.

More information can be found at sc.co.kr, SC Korea’s mobile banking app and the customer contact center at 1588-1599.

By Kim So-hyun (sophie@heraldcorp.com)