Standard Chartered Bank Korea is holding an event for first-time customers who sign up for its Jaeil EZ Account – an occasional deposit and withdrawal account that provides an annual pretax interest rate of up to 3.6 percent even if customers deposit money for just one day.

The event, which continues until May 31, offers prizes to a few chosen customers among those who open an account and submit an entry by May 31.

One event entry will be additionally counted for every 1 million won ($754) in a customer’s account balance by May 31, meaning more money deposited in the account will yield a higher chance of winning.

One first-place winner, three second-place winners and 10 third-place winners will receive 1 million won, 500,000 won and 100,000 won in Shinsegae mobile vouchers, respectively. One-hundred fourth-place winners will receive two Starbucks coffee coupons.

The high-interest parking account provides a basic interest rate of 2.6 percent, the bank said, but first-time customers will receive an additional interest rate of 1 percent for six months from the opening date of the account, free of any conditions or deposit limits. They will also be exempt from various fees such as mobile and internet banking transfer fees.

“After raising the basic interest rate of the Jaeil EZ Account to 2.6 percent last December, the product gained popularity for having a high interest rate and allowing free deposits and withdrawals,” said Bae Soon-chang, head of SC Korea’s savings products department.

“We have prepared events for other products catered to various uses of extra funds.”