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SC Bank Korea offers 2.4% for new money market accounts

Sept. 27, 2022 - 17:31 By Kim So-hyun
Employees promote SC Bank Korea`s money market deposit accounts. SC Bank Korea
Standard Chartered Bank Korea said it will offer special interest rates of up to 2.4 percent for as long as 60 days to first-time SC customers who deposit 100 million won or more, up to 2 billion won, in money market deposit accounts.

Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest.

The promotional rate is offered to first-time customers of SC Bank Korea who open their accounts by Thursday. The promotion will end when the total deposits of eligible customers reaches 100 billion won.

For corporate clients, a special rate of up to 2.2 percent will be offered for as long as 60 days to first-time SC customers who deposit 100 million won or more in prime corporate accounts.

SC Bank Korea has also raised the maximum interest rate for the e-Green Save account, which can be opened only via mobile banking, to 3.6 percent since Sept. 13.

Customers can open the e-Green Save accounts on SC Bank Korea’s mobile banking app from 9 a.m. through 9 p.m. on weekdays, with a deposit of between 1 million won and 500 million won per account. There is no limit to the number of e-Green Save accounts a person can open.

“Amid high economic and interest rate volatility, customers’ attention is focused on products that offer high interest for short-term deposits of idle funds,” said Bae Soon-chang, chief of SC Bank Korea’s deposit products department.

“This promotional event is an opportunity that allows customers to enjoy the convenience of checking accounts and the benefit of high interest at the same time.”