Citibank Korea Launches “New Long-Term Housing Installment Savings”

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2009-02-11 10:12

Seoul--(뉴스와이어)--Citibank Korea, Inc. (CEO Ha Yung Ku, www.citibank.co.kr) is launching “New Long-Term Housing Installment Savings” whose interest rate is repriced every three years.

Minimum deposit amount for each transaction is 10,000 Won (up to aggregate 3MM a quarter at all financial institutions) and households aged 18 and above and do not own home, or households aged 18 and above and own not more than one public housing (less than 85m2) whose market price is less than 300MM as of the subscription date.

Deposit tenor will be seven years without extension. Interest rate for first three years will be published rate as of new booking date, and for next three years will be published rate after third year, and for the last year will be the rate applied to one-year time deposit product published after fifth year.

One of attractive features of this product is that contractual rate is applied even when terminated after five years to give less disadvantage to customers. Another advantage is that if you subscribe with Citibank, fees on auto transfers from other banks will be compensated.

The New Long-Term Housing Installment Savings gives tax benefit on all interest earnings at maturity or even for early termination, and households who are wage earners and own not more than one public housing priced less than 300MM are provided income deduction benefit (up to 3MM Won).

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