Product offers up to 3.50% annual interest rate
Gwangju Bank, led by President Jeong Il-seon, launched a new savings product Tuesday to celebrate the inauguration of the South Jeolla-Gwangju integrated special city and mark the start of a new era alongside local residents.
The product was designed to commemorate the historic moment when South Jeolla Province and Gwangju merged into a single special city, and went on sale on the first day of the new municipality. Beyond its function as a financial product, it was conceived as a symbolic offering to celebrate the integrated city's fresh start and support regional development together with local communities.
The product is open to individuals and sole proprietors for a term of 13 months. Deposits range from 1 million won ($646) to 500 million won, and customers can sign up at Gwangju Bank branches, through the Gwangju Wa Bank platform, or via mobile web banking.
The product carries a base interest rate of 3.20 percent per year, with preferential rates of 0.20 percentage points for customers celebrating the city's inauguration and an additional 0.10 percentage points for holders of a South Jeolla-Gwangju Special City Love Account — a demand deposit product — bringing the maximum annual rate to 3.50 percent. The bank kept the preferential rate conditions straightforward so customers can more easily take advantage of the benefits.
sij@heraldcorp.com
