SC Bank launches Wealth Saver Account to support asset growth

(SC Bank)

Standard Chartered Bank Korea announced on Monday the launch of the SC Jeil Wealth Saver Account, a new demand deposit product offering an annual interest rate of up to 2.8 percent.

Designed to support both asset growth and liquidity, the Wealth Saver Account links interest rates to the customer’s overall banking relationship with the bank. Depending on the total balance held across products such as demand deposits, funds and trusts, customers can receive interest rates ranging from 1.0 to 2.8 percent. However, all new account holders receive the 2.8 percent rate during the first month, regardless of balance.

The product applies higher interest rates to the portion of a customer’s balance that exceeds their baseline funds from three months prior. To qualify for tiered rates beyond the base 0.1 percent, customers must meet minimum thresholds in account balance increases and diversified product holdings.

In celebration of the launch, SC Bank Korea is running a promotional event through June 30. Customers who invest at least 20 million won ($14,620) in eligible financial products and maintain an average monthly balance of 50 million won or more in the new account may receive Shinsegae gift certificates worth up to 1 million won. Participation requires registration through the bank’s mobile app.

“This account is designed to help customers grow their assets steadily while maintaining liquidity, especially in today’s uncertain financial environment,” said a Standard Chartered Bank Korea official.