Standard Chartered Bank Korea has announced the launch of the Jaeil EZ Account, a flexible deposit product offering a maximum 3.6 percent interest annually on daily balances. This is one of the highest-level interest rates allowed for free deposit accounts among commercial banks in Korea.
Commercial banks are hiking the costs associated with taking out a mortgage even while the benchmark interest rate has remained steady for more than half a year, in their bid to cover expenses needed to counter growing liquidity risks.