A promotional poster for Standard Chartered (SC) Bank Korea's new deposit product that lets customers receive after-tax interest in Korean Air miles / Courtesy of SC Bank Korea
Standard Chartered (SC) Bank Korea has rolled out a deposit product that lets customers receive their after-tax interest in Korean Air miles, becoming the first commercial bank in Korea to offer such a product, the lender said Friday.
The account is available for six or 12 months, with annual interest rates of 3.15 percent and 3.55 percent, respectively. An additional 0.1 percentage point is available to those who deposit at least 100 million won ($70,600) or hold the bank’s private banking customer status or higher.
As part of a launch promotion, anyone who opens the account by Oct. 31 will receive up to 5,000 bonus miles, depending on the amount deposited. Ten first-time customers who also sign up for the bank’s investment product will be chosen to receive an additional 10,000 miles each.
Three customers who deposit at least 100 million won will also be selected to receive round-trip Korean Air tickets, either Prestige class to Phuket or Economy class to Guam.
