iM Bank launches high-interest savings products with a maximum annual interest rate of 15%... in conjunction with branch openings to accelerate the expansion of non-face-to-face services

To commemorate the opening of the Seoul Godeok-dong and Yi 3-dong branches, iM Bank has launched high-interest deposit and savings products, further accelerating financial marketing through non-face-to-face channels.

On the 6th, as part of the branch opening event, iM Bank introduced “The Coupon Deposit” and “The Coupon Savings” products. Notably, these products will operate via a mobile application with a non-face-to-face account opening method targeted at new customers, and coupons must be claimed within a certain period to open an account. The financial industry generally believes that this approach of attracting customers with high-interest savings products is spreading like a popular trend among many banks recently.

The Coupon Deposit offers an annual interest rate of 3.2% (pre-tax). Customers must claim the coupon before January 31st and complete the account opening by February 6th. The deposit amount is limited to between 1 million KRW and 50 million KRW, with a maximum of 2 accounts per person. The total sales limit is 100 billion KRW. iM Bank explains that this product is a strategic offering aimed at customers seeking stable interest rates.

The Coupon Savings allows monthly deposits from 1,000 KRW up to a maximum of 200,000 KRW, with a term of 6 months. The first 15,000 accounts on a first-come, first-served basis will enjoy a high annual interest rate of 15% (pre-tax). Savings products can claim coupons before February 28th and must open accounts by March 6th to enjoy the benefits. In an era of ultra-low interest rates, this product is considered attractive for customers looking to maximize their savings effects.

Previously, iM Bank operated similar promotional deposit and savings products when opening branches in Magok, Seoul, Cheonan, South Chungcheong, and Cheongju, North Chungcheong, achieving early sell-outs. This time, they also expect similar success, demonstrating that the bank is repeatedly strengthening its customer inflow strategy based on digital technology alongside branch openings.

Analysts believe that although such high-interest promotional products can achieve significant customer attraction in the short term, their long-term impact on asset management burdens or bank profitability remains to be further observed. Against the backdrop of intensified competition for high-interest deposits through non-face-to-face channels across the entire financial industry, from the customer’s perspective, this could serve as a signaling trigger for capital flow.