SMBC KOREA

PRODUCTS & SERVICES

No limits on counterparty, amount of deposit, period of time and frequency of receipt and payment of money.
  • Ideal for short-term fund management
  • Available via internet banking
  • Interest paid twice a year (every first day of January, July)
  • Interest rate: 0.1% per annum

Products

Products
Applicable for Corporate Clients Lockdown period None
Minimum amount
of deposit 		None Interest Payment Interest is added to the original deposit, twice a year: every first working day of January and July
Interest Rate
  • Interest rate application: Calculated during the period from the first credit day till the previous day of payment day following the deposit type and the policy terms of SMBC
Cancellation of
the contract 		Please visit SMBC Seoul Branch in-person for application

Interest Rate

Interest Rate
Currency type Interest Rate
KRW 0.1% per annum
USD 0.01% per annum
JPY, Other Currencies 0.00% per annum
※ Effective from 19th Mar 2020.
예금자보호

이 예금은 예금자보호법에 따라, 원금과 소정의 이자를 합하여 1인당 “1억원까지“
(본 은행의 여타 보호상품과 합산) 보호됩니다.

Depositor Protection

The deposit in this account is protected by the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act. The KDIC provides coverage up to KRW 100 million per depositor, including principal and designated interest (in aggregate with any other insured financial products you hold with this bank).

Further Infomation

Please note

  1. All banking transactions should be executed under depositor’s full registered name.
  2. The banking service is only available with the SMBC Seoul Branch accounts.
  3. If the customer’s banking documents (e.g., passbook, seal, cheque/ bill) have been lost, or the customer suspects to be a victim of fraud or identity theft, please notify SMBC Seoul Branch in writing immediately.
  4. In doubt and prior to making deposit transactions, please consult with your Relationship Managers or the person(s)-in-charge at SMBC Seoul Branch for more information, such as those relating to cancellation terms and conditions, interest rate applied on expiry of deposit plan(s) and limit on deposits etc.
Time-specific fund deposit with guaranteed interest on agreed rates
  • Deposit account on an agreed interest rate within specified term allowing flexible credit and withdrawal
  • Interest is calculated and paid on cancellation or maturity of the account

Products

Products
Applicable for Corporate Clients Lockdown period
  • KRW – More than 1 month ~ Less than a year
  • FCY – More than a day ~ Less than a year
Minimum amount
of deposit
  • KRW – More than KRW 50,000,000
  • FCY – More than the amount equivalent to USD 50,000
 Interest Payment On maturity
Interest Rate
  • Interest rate application Daily interest rate categorized by period of deposit calculated on the day of deposit.
  • Interest rate payment Stated by the branch, ordinary deposit interest rate.
Cancellation of
the contract 		Please visit SMBC Seoul Branch in-person for application
예금자보호

이 예금은 예금자보호법에 따라, 원금과 소정의 이자를 합하여 1인당 “1억원까지“
(본 은행의 여타 보호상품과 합산) 보호됩니다.

Depositor Protection

The deposit in this account is protected by the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act. The KDIC provides coverage up to KRW 100 million per depositor, including principal and designated interest (in aggregate with any other insured financial products you hold with this bank).

Further Infomation

Please note

  1. All banking transactions should be executed under depositor’s full registered name.
  2. The banking service is only available with the SMBC Seoul Branch accounts.
  3. If the customer’s banking documents (e.g., passbook, seal, cheque/ bill) have been lost, or the customer suspects to be a victim of fraud or identity theft, please notify SMBC Seoul Branch in writing immediately.
  4. In doubt and prior to making deposit transactions, please consult with your Relationship Managers or the person(s)-in-charge at SMBC Seoul Branch for more information, such as those relating to cancellation terms and conditions, interest rate applied on expiry of deposit plan(s) and limit on deposits etc.

Deposit Commissions

(Unit: KRW)
Deposit Commissions
Commission by transaction types Unit Amount
Commission on cashier’s cheque issuance (flat rate)
(Up to 10 pages per application) 		Per page 50
Commission on cashier’s cheque issuance (Ordinary / Normal)
(Up to 10 pages per application) 		Per page 300
Accident report commission (Only for certain cases) Report in
writing 		1,000
Per case
Bank confirmation letter issuance commission
(for audit) 		Per case 30,000
Certificates issuance commission Per page 2,000
Transaction history report (General) Per page 2,000

Remittance Commissions

(Unit: KRW)
Remittance Commissions
Commission by transaction types Unit Amount Remarks
Overseas Outward
Remittance (T/T) 		Handling Charge Per case 20,000
Amendment / Cancellation Charge Per case 20,000
Overseas Inward
Remittance (T/T) 		Handling Charge Per case 10,000 No charge when the amount above USD5,000 or JPY750,000
(on the basis of remittance amount)
Telegram charges Per case 15,000
Domestic Transfer Commission (Outward) Online
(CMS Plus or IBK) 		Per
amount 		2,000
Per
100 million
Internet Banking Per case 2,000
SWIFT Per case 5,000
BOK Wire Per case 5,000