KB Kookmin Card and KB Kookmin Bank have jointly launched the "KB Card Sseudamjeok" savings product, which offers preferential interest rates based on card usage and banking transaction history.
The product combines preferential rates tied to KB Kookmin Card spending — targeting customers new to the card — with KB Kookmin Bank's primary-banking benefits.
The base interest rate is 2.0 percent per year, with a maximum of 12.0 percent annually when all preferential rates are applied. The preferential rate components are: a credit card preferential rate of 6.0 percentage points per year, an average balance preferential rate of 2.0 percentage points per year, and a first payroll transaction preferential rate of 2.0 percentage points per year.
The credit card preferential rate is available to customers who had no KB Kookmin personal credit card payment history in the six months prior to the end of the month before the savings account opening date.
To qualify for the 6.0-percentage-point annual preferential rate, customers must make cumulative purchases of at least 100,000 won ($72) using a KB Kookmin personal credit card from the first day of the month the savings account is opened through the last day of the month two months later. They must also hold a KB Kookmin personal credit card linked to KB Kookmin Bank as the payment account by three business days before the savings account maturity date. KB Kookmin Bank separately offers up to 4.0 percentage points per year in preferential rates based on transaction history. Customers who meet the monthly average balance condition on the withdrawal account used to fund the savings deposit and the first payroll transaction condition each receive up to 2.0 percentage points per year in preferential rates.
The product is a six-month, flexible installment savings account that accepts monthly deposits ranging from 10,000 won to 300,000 won. It is capped at 100,000 accounts and can be opened through KB Star Banking or at KB Kookmin Bank branches. The sales period runs from Friday through Aug. 17 next year.
"We developed this product together with KB Kookmin Bank so that customers who are new to KB Kookmin Card can receive meaningful interest rate benefits," a KB Kookmin Card official said. "We will continue to collaborate with KB Financial Group affiliates to introduce a variety of products and services."
won@heraldcorp.com
