Citibank Korea Launches “Citi Free Installment Time Deposit”

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2009-02-09 10:36

Seoul--(뉴스와이어)--Citibank Korea, Inc. (CEO Ha Yung Ku, www.citibank.co.kr) has launched “Citi Free Installment Time Deposit” which provides flexible installment deposits regardless of amount with as long as the amount is above 100,000 Won and offers tax benefits on additional subscription amount as well.

The new deposit product has combined features of both time deposit and regular installment deposit - customers are allowed to make frequent deposits whenever they have cash at hand, and each subscription is applied by the interest rate applied to the remaining deposit tenor at that time.

Minimum deposit amount 100,000 Won and has no upper cap with tenor ranging from 6 months to 3 years, based on monthly unit. Also, customers can deposit in installments with no limitation to the frequency of installments.

For products contracted for more than one year for purposes of tax benefit, any additional subscription even if the tenor is less than one year will be given tax benefits. Withdrawals by installments are also possible if installment deposits are designated as such, thus providing less disadvantage to customers who make early termination.

For more details on the product, please log into Citibank internet homepage (www.citibank.co.kr) or visit one of our branches.

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 231 branches (as of end of September 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