Jeonbuk Bank Launches Two 'Seed Moa' Parking Accounts With Variable Interest Rates Based on Deposit Size

Jeonbuk Bank is launching a new parking account product that allows customers to choose interest rate benefits according to the size of their deposits. JB Financial Group's Jeonbuk Bank announced on June 23 that it will introduce the 'Seed Moa Small Privilege Account' and the 'Seed Moa Large Privilege Account,' both of which are free-deposit-and-withdrawal accounts optimized for short-term fund management.

This product is available to any individual customer and is designed so that customers can select the account that best fits their asset size. Both accounts offer a maximum annual interest rate of 4.0% for the first three months, including preferential rates, and a base interest rate of 1.8% to 2.0% per annum thereafter.

The 'Seed Moa Small Privilege Account' is intended for customers managing relatively smaller amounts. A base interest rate of 2.0% per annum is applied to deposits of up to 50 million won, and a rate of 1.8% per annum is applied to amounts exceeding 50 million won.

In contrast, the 'Seed Moa Large Privilege Account' targets customers depositing larger sums. If the account balance is 50 million won or more, a base interest rate of 2.0% per annum applies, while balances below 50 million won receive a rate of 1.8% per annum.

The conditions for receiving preferential interest rates are the same for both products. An additional 0.2 percentage points per annum is provided for consenting to marketing use, 0.8 percentage points per annum for first-time Jeonbuk Bank customers, and a bonus rate of 1.0 percentage point per annum. These preferential rates are available for three months from the date of account opening.

Despite the recent trend of falling base interest rates, interest in parking accounts with free deposit and withdrawal remains steady. As demand grows for products that allow flexible management of short-term funds while offering higher interest than regular deposits and savings, financial institutions are releasing a variety of tailored parking accounts in succession.

A Jeonbuk Bank official stated, "The number of customers considering both liquidity and profitability is increasing, so we launched new products to provide options suited to different fund sizes," adding, "We will continue to introduce financial products tailored to our customers' asset management needs."

This content was produced with the assistance of AI translation services.