Citibank Korea Inc. launched a new product, ‘Equity-Linked Time Deposit (ELD) to the Korean and Taiwanese Stock Indexes’
The ‘ELD to the Korean and Taiwanese Stock Indexes’ is linked to the ‘KOSPI 200’, a cap-weighted index, composed of the top 200 listed issues to capture about 90% of the total market capitalization of the Korea Stock Exchange and the ‘MSCI Taiwan Index’, a cap-weighted index of the listed companies in the Taiwanese Stock Exchange, and the maturity is 1 year and 6 months.
In addition, when an individual customer makes a cross-opening of either TD or CD at the time of making the ELD, a special fixed rate is offered depending on the type of account: ▶ 7.3% p.a. for 1 year CD (before tax) ▶ 7.1% p.a. for 1 year T/D (before tax), ▶ 6.7% p.a. for 6 month CD (before tax), and ▶ 6.5% p.a. for 6 month T/D. The minimum deposit amount is 1 million Korean Won for the ELD and TD or CD each to be eligible for the special fixed rates, and the amount of initial deposit to the ELD should be more than the initial deposit amount in either TD or CD with the special rates.
The customers are highly interested in the product because it gives not only an opportunity to invest the earned interest income into the base asset without risking a loss of principal, unless the account is terminated before maturity, since the Equity-Linked Time Deposit guarantees the principal amount at the time of maturity, but also to make either the time deposit or certificate of deposit at the specially offered higher interest rates than the interest rate determined by branch manager when the customers choose the option of cross-opening of an account with the ELD.
This product is available by the end of August 11. For further inquiry on the product, please call 1588-5753.
About Citibank Korea Inc.
Citibank had opened its first branch in Korea in 1967, and was born newly as Citibank Korea Inc. (CKI) through integration with KorAm Bank in 2004.
CKI serves customers at 229 branches (as of March 2008) in Korea by providing the first class financial products and services based on the various products and know-how of Citi with global network including more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to the customers through development of innovative financial products and services, encompassing from corporate and investment banking to consumer banking, private banking, and wealth management.
Furthermore, Citibank Korea Inc., as a responsible corporate citizen, conducts diverse community activities in the areas of financial education, next generation education, woman, diversity, community, and environment consistently in corporation with sound non-profit organizations.
웹사이트: http://www.citibank.co.kr
연락처
Shin, Hyeon Jeong
Communication Dept.
Citibank Korea Inc.
82-2-3455-2330
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2010년 8월 15일 10:43
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