Citibank Korea offers ‘New Business A+ Account’, an MMDA for corporate customers giving as high as 3.1% rate even for one day deposit
Interest rates of this Account vary depending on the daily final balance: ▶ 0.7% per annum (before tax) for 500,000+ and less than 10mil, ▶ 1.7% per annum (before tax) for 10mil+ and less than 50mil, ▶ 2.0% per annum (before tax) for 50mil+ and less than 100mil, ▶ 2.2% per annum (before tax) for 100mil+ and less than 1b, ▶ 2.4% per annum (before tax) for 1b+ and less than 5b, ▶ 2.5% per annum (before tax) for 5b or more.
Also, additional rates will be given based on increase in average monthly balance: ▶ 0.1% per annum (before tax) for 500,000+ and less than 10mil, ▶ 0.2% per annum (before tax) for 10mil+ and less than 50mil, ▶ 0.3% per annum (before tax) for 50mil+ and less than 100mil, ▶ 0.4% per annum (before tax) for 100mil+ and less than 1b, ▶ 0.5% per annum (before tax) for 1b+ and less than 5b, ▶ 0.6% per annum (before tax) for 5b or more.
An official from Citibank Korea said, “We already have a corporate MMDA called ‘Business A+ Account” in our product offering, which gives high interest rates on daily final balance. We developed an upgraded form of corporate MMDA called ‘New Business A+ Account’ which gives additional rates on increases in average monthly balance because we wanted to give more rates to our corporate clients and proprietors who use Citibank Korea as their main transaction bank.”
If the previous month’s average balance was 5mil or more, the account holder can receive fee waivers for ▶ inter/intra-bank money transfers, Bank of Korea fund transfers, cashier’s checks, not to mention ▶ using unmanned channels such as ATMs and e-financing so that the corporate client of the account can use cash deposit and withdrawal services at any time without fees.
This Account targets corporate firms and sole proprietors with a minimum annual turnover of 10b, but financial institutions are not eligible to open this Account. Anyone eligible can open the Account at any branch of Citibank Korea in the country and will be asked to present their Business Registration Number.
Website: http://www.citibank.co.kr
Contact
Huh, Kap-Seung
Communication Dept. Citibank Korea Inc.
82-2-3455-2340
This news is a press release provided by Citibank Korea Inc..
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2월 13일 10:59
