SC First Bank makes saving pay with ‘First Wealth Saver Account’

SC First Bank launched the “SC First Wealth Saver Account,” offering flexible deposits and withdrawals with interest rates up to 2.8 percent.

The Wealth Saver Account determines interest rates from 1 to 2.8 percent according to bank transaction performance tiers, measured by the total balance of the account holder’s deposits, securities, trust contracts and local and foreign currency accounts on the last business day of the previous month. A higher rate applies only if the balances have risen from the baseline bank transaction performance in the three months prior to opening the account.

To qualify for these rates, customers must meet three conditions: The increase in the bank transaction performance must be at least 10 million won ($7,220), combined deposit account balances must exceed 20 million won and combined securities and trust contract balances must exceed 20 million won.

Specifically, the interest structure offers 2.8 percent for transaction performances of 1 billion won or more, 2.6 percent for 300 million won or more, 2.4 percent for 100 million won or more and 1 percent for amounts under 100 million won. Increases below 10 million won or exceeding the maximum receive the base rate of 0.1 percent. New accounts receive the maximum 2.8 percent rate from opening until the end of the first month, regardless of performance.

SC First Bank is also running a promotional event until June 30. Customers who invest at least 20 million won in eligible investment products and maintain specific average monthly balances in their Wealth Saver Account for two months after opening will receive gift certificates of up to 1 million won.

“In a volatile financial market environment like nowadays, customers trading various products will be able to manage their assets stably through the Wealth Saver Account,” said an SC First Bank representative.

BY LEE YEBIN [lee.yebin1@joongang.co.kr]