Easy-One Pack Time Deposit Account
As a time deposit product exclusive for foreign customers, the product name can be freely designated by the customer, and foreign currency remittance fees are fully waived when sending overseas remittances after the deposit account is terminated.
Eligibility : Real-Name Foreigner Personal Account
Enrollment Period : In monthly units of at least 1 but fewer than 12 months.
Enrollment Amount : No limits on KRW 1,000,000 or above
Earnings method : Unrestricted earnings of less than KRW 10,000,000 per month.
Applied Interest Rate (Pre-tax, at maturity) :
- Interest rates posted on the KEB Hana Bank website or at a branch on the date of account opening or renewal
- 2.6% per annum (as of Apr. 2013)
Early Termination and Post-Maturity Interest Rates ( Mar. 25, 2013; Pre-tax)
| Early Termination Interest Rate | Post-Maturity Interest Rate | ||
|---|---|---|---|
| Deposit Period | Interest Rate | Elapsed Period | Interest Rate |
| Less than 1 month | 0.1% per annum | Within 3 months of maturity | ½ of the Base Interest Rate at Maturity |
| No less than 1 month – Less than 3 months | 0.5% per annum | Three months to one year after maturity | ¼ of the Base Interest Rate at Maturity |
| No less than 3 months | 0.5% per annum + (Base interest rate x 60% x recognized rate per elapsed period) | More than 1 year after maturity | 0.5% per annum |
Base interest rate: One-year YES Keungippeum preferential interest rate posted on the day the account is opened (renewed).
Elapsed period recognition rate: (number of elapsed days - 90 days) / contract days
Additional Benefits
Overseas foreign currency remittance fee fully waived.
- A one-time fee exemption for an overseas remittance after this savings account is closed (including early termination), regardless of remittance amount.
- 30% preferential exchange rate discount. (When making an overseas remittance or currency exchange after terminating a time deposit account.) 30% for USD, EUR, and JPY; 20% for other currencies.
Interest Payment Method
Choice between maturity payment and interest payment types.
Special Early Termination
With an account open at least six months since enrollment, half of the contractual interest rate at the time of enrollment is provided when early termination is requested to make an overseas remittance via KEB Hana Bank.
Partial Termination
Partial termination (including final termination) is available up to 3 times and the early-termination interest rate is applied.
(Balance after partial termination must be at least KRW 1,000,000.)
Renew Maturity
Renewal Available
- If the maturity date is not a banking day, however, automatic renewal is processed on the following business day. Preferential tax and subsistence savings accounts are excluded from renewal if the limit has been exceeded, the account has been seized, or there are other legal limitations at the time of renewal.
Termination of Contract
Termination can be made at a branch.
Precautions about Deposit Transactions
- If the account is terminated before maturity, the respective early-termination interest rate, lower than the agreed-upon interest rate, will be applied.
- A preferential interest rate applies only when the account is terminated at maturity. Partial and early termination are not eligible.
Guide
This deposit account is protected by the Korea Deposit Insurance Corp. in accordance with the Depositor Protection Act, and the protection limit is up to KRW 50,000,000 per person, including all principal and fixed interest for eligible financial products at KEB Hana Bank. The amount in excess of KRW 50,000,000 is not protected.
This information represents a summary of the contents. For details, please refer to the KEB Hana Bank Terms & Conditions or individual agreements.
We recommend seeking the advice of a specialist if necessary.