SBI Savings Bank Launches 'Saenghwal Parking Account' Offering up to 7.7% Annual Interest on Small Surplus Funds

SBI Savings Bank announced on August 6 the launch of its new product, the 'Saenghwal Parking Account.'

The 'Saenghwal Parking Account' is a regular deposit account with flexible withdrawals and deposits, offering a maximum pre-tax annual interest rate of 7.7% for balances up to 2 million won.

The basic annual interest rate for the regular deposit account is 2.7%, with up to an additional 5% annual preferential rate. The preferential rates are as follows: new customers receive an annual 4.0 percentage points, customers aged 39 or younger receive an annual 0.5 percentage points, and registering for a simple payment account adds an annual 0.5 percentage points. The preferential rate for new customers is applied for one year from the subscription date, and interest is paid on the first day of each month.

SBI Savings Bank explained that it decided to launch another high-interest parking account product in order to offer greater benefits to low-income individuals and young people. An SBI Savings Bank representative stated, "The Saenghwal Parking Account was designed to provide higher interest benefits on daily living expenses and small surplus funds used every day," adding, "We will continue to introduce competitive products and a variety of benefits that can offer practical support for our customers' everyday financial lives."

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