The More Products and Balance you Have, the Higher Rate you will Get
The More Products and Balance you Have, the Higher Rate you will Get
  • Korea IT Times
  • 승인 2011.02.28 09:55
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Citibank Korea, Inc. (CEO Ha Yung Ku) has launched a "MAX account". The new product offers its interest rate according to the subscribed bank products and their volume as a whole.

Whereas conventional products differentiated their interest rates according to the volume within the account and even if the customer has a lot of balance in other products, they didn't count, but "MAX account" counts for balance in other product as well, when deciding interest rate applied to each customer. To get the differentiated interest rate according to the total balance, customer should be subscribed to more than 2 active product types (should be selected among 6 product types Citibank Korea Inc. defined) and the rate differs according to the total balance of the products the customer has on the last working day of the previous month. 6 product types include Liability products, Asset products, credit-cards, etc.

Besides this high customer interest rate, MAX account offers various fee waivers and discounts. Fees incurred from using other bank's ATM will be reimbursed to the customers who designate this account as their payroll account or have average balance of 900M won during the prior month (for up to 8 withdrawals and 5 transfers a month). The customers can also enjoy unlimited fee waiver for withdrawal and transfer when using CKI ATMs, and other fee waivers for varied services as electronic banking, issuing cashier's check, and preferential FX rate and remittance discount(35~40%).

Each customer can subscribe for only one account, and both Koreans and foreigners can subscribe under their real names. News Source: Citibank Korea Inc.

source: citibank


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