Woori America Bank (CEO Kim Do-hoon) has launched the Welcome High-Yield Savings account.
This savings product is designed for new customers who meet specific transaction conditions with Woori America Bank, offering a maximum interest rate of 7% per annum. It features a base rate of 4% with up to 3%p in preferential rate benefits upon meeting certain conditions.
The preferential rate conditions include subscribing to internet banking (such as e-statement sign-up) for a 1%p bonus and generating monthly ACH deposit transactions during the savings period for a 2%p bonus.
As a 1-year maturity savings product, the allowable individual subscription amount ranges from a minimum of $1,000 to a maximum of $25,000 based on the maturity payout. This translates to a monthly deposit ranging from $80 to $2,000, making it ideal for customers preparing lump sums for purposes such as home purchases. As a special promotional product, sales will cease once the limit is exhausted.
Additionally, interest rate benefits for existing products are also being enhanced. Rates for popular products such as the Interest Up CD and Interest Plus Savings are being increased. Both are 1-year maturity products where interest rates receive preferential boosts based on maintaining average checking account balances. Upon meeting preferential conditions, the Interest Up CD applies up to 4.5% per annum, and the Interest Plus Savings applies up to 5.5% per annum.
