This 12-month savings account earns a base 3.50% APY, with up to four bonus rate increases of 0.50% each for opening a checking account with monthly ACH deposits of at least $100, enrolling in e-statements, and opening and linking a credit card (subject to approval). Maximum 5.00% APY requires meeting all qualifications. Interest is credited at maturity, and a penalty applies for early withdrawal.
Eligibility
How to get the Woori America Bank SmartStep Installment rate
- Open a Woori America Bank checking account and maintain monthly ACH deposits of at least $100.
- Enroll in paperless e-statements.
- Open a Woori America Bank credit card and link it to your new checking account for payments (subject to credit approval).
The fine print that matters
- Available to new customers only.
- Minimum deposit $1,000, maximum $15,000.
- Simple interest credited at maturity.
- Penalty imposed for early withdrawal; if account closes before interest is credited, you receive interest minus penalty.
- All bonus requirements must be fulfilled within three months of account opening and maintained through maturity to qualify for and retain bonus APY.
- Monthly fees may apply to checking account based on type and activity.
- Without the monthly qualifications the rate is 3.5% APY.
Verification and reports
Confirmed against wooriamericabank.com on Aug 18, 2026. Based on 0 field reports. Status Limited reports is computed from those reports, never hand-set.
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Sources: wooriamericabank.com rate page (checked Aug 18, 2026)