Product Feature
- - Multiple Free Style Accounts may be established and attached to a Free Style Passbook.
- - Requests for partial withdrawal are accepted up to 3 times including the last one, therefore, disadvantage of interim withdrawal can be minimized.
- - You may choose interest payment cycle among monthly, bi-monthly, and quarterly as you wish.
Transaction Terms
- Available for all types of corporate
- - Minimum Contract Amount: 1,000,000 Won
- - Contract Term
· Lump Sum Payment at Maturity Type: No. of days from 1 month to 3 years
· Interest Payment Type: No. of days from 3 months to 3 years
· Interest Payment Cycle: monthly, bi-monthly, and quarterly
Interest Rate
-
Contract Interest Rate (Market Rate)
- Interest Rate for Withdrawal before Maturity(below rates are per annum and before tax)
- - Deposit accounts booked before February 27, 2012
Interest rates will be applied by below sections as of withdrawal date· 15 days or longer - less than 3 months
· 3 months or longer - less than 1 year
· Longer than 1 year
- - Deposit accounts booked on or after February 27, 2012
Interest rates will be applied by below sections as of withdrawal date· Less than 1 month
· Less than 2 months
· Less than 3 months
· 3 months or longer – interest rates to be calculated by below formula Interest rate x (1 – Deduction rate)
· Deduction rate = Constant K x (Remaining months from closing date to maturity date) ÷ (Contract month)
· Constant K = 1.0
· Round-up – remaining days less than 1 month
- Interest Rate for Withdrawal after Maturity
- - Up to 1 month after maturity: Basic rate of this deposit product for 1 month
- - After 1 month upon maturity: 1.0% (p.a., before tax)
- - Interest after maturity is calculated based on principal at the time of initial deposit.
- - Interest rate after maturity cannot exceed the contracted interest rate at the time of initial deposit.
Required Documents
- - Business Registration Certificate
- - ID Card
- - Seal Certificate
- - Power of Attorney
- - Other Required Document(s)
※Please contact a Corporate Banking branch around you for details.
This deposit product is protected by the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act. The KDIC provides insurance on deposits up to KRW 50 million per depositor for the aggregate of his/her insured financial products with this bank including principal and designated interest. The amount in excess of KRW 50 million will not be protected.
