SBI Savings Bank has sold out its special time deposit product, launched to celebrate its fifth consecutive year of achieving an A credit rating, within just five business days.
The bank announced on the 5th that the entire limit of 300 billion won for the special time deposit, which went on sale on July 29, has been exhausted.
This special offer was created to commemorate SBI Savings Bank receiving an A credit rating from Korea Ratings and NICE Investors Service for five consecutive years.
The product was available through nationwide branches, internet banking, and the mobile application 'Cider Bank,' offering interest rates up to 0.5 percentage points higher than existing products, depending on the deposit period.
The highest interest rate for a 12-month maturity was 4.1%. Due to strong demand for high-interest deposit products, the entire limit of 300 billion won was sold out within five business days of the launch.
SBI Savings Bank explained that this special offer not only provided preferential interest rates to existing customers but also attracted new clients.
An official from SBI Savings Bank stated, “We prepared this special offer to provide benefits to customers based on the external trust of maintaining an A rating for five consecutive years. We will continue to introduce competitive products and services and fulfill our role as a financial institution for the public.”
* This article has been translated by AI.
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