SC Bank Korea launches country's 1st deposit offering interest in airline miles

Standard Chartered Bank Korea has launched a unique deposit product that allows customers to receive their after-tax interest in airline miles, specifically Korean Air miles. This innovative product is the first of its kind in Korea, marking a new trend in how banks reward their customers. The deposit product is available for six or 12 months, with interest rates of 3.15 percent and 3.55 percent, respectively. This move could potentially attract more customers to the bank, as it offers a unique reward system that combines savings with travel benefits.

Why it matters

SC Bank Korea's new deposit product offers interest in airline miles, which could attract customers and boost deposits. This innovation may increase competition in the banking sector.

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