SBI Savings Bank announced the launch of its 'Living Parking Account' on August 6, designed for managing living expenses and small surplus funds.
The Living Parking Account offers a maximum annual interest rate of 7.7% for balances under 2 million won. Customers can sign up through the Saida Bank application.
The base interest rate is 2.7% per year, with the potential for an additional preferential rate of up to 5.0 percentage points if certain conditions are met. These conditions include a 4.0 percentage point rate for new customers, a 0.5 percentage point rate for customers aged 39 and under, and a 0.5 percentage point rate for those who register a simple payment account.
If all preferential conditions are met, the maximum annual interest rate of 7.7% applies to balances under 2 million won. The preferential rate for new customers is available for one year from the date of account opening, with interest paid on the first of each month.
SBI Savings Bank is also offering a parking account with a 2.7% interest rate for balances up to 100 million won without any conditions. This new product is designed to provide additional interest benefits for young adults and low-income customers using it as a living expense account.
To celebrate the product launch, the bank is running a promotional event. New customers who open a Living Parking Account will receive 10,000 won in Naver Pay points. If a referral code is shared and a friend signs up for the product, both the referrer and the new customer will receive prizes. The referral benefit is capped at 50,000 won per person, and the event runs until October 31.
An SBI Savings Bank representative stated, “This product was created to offer high interest benefits for everyday living expenses and small surplus funds. We will continue to introduce products and benefits that assist our customers in their daily financial lives.”
* This article has been translated by AI.
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