Kookmin Bank also raised the deposit rate by 0.3%p… Small business owners and first-timers preferred

KB Kookmin Bank announced on the 31st that it will raise interest rates for 34 types of time deposits and savings-type deposits by up to 0.3 percentage points.

In order to support small business owners and first-timers who are experiencing difficulties due to the prolonged COVID-19, the interest rates of the ‘Business Preferred Savings Savings’ and ‘KB National First Financial and Tech Savings Savings’ will increase by 0.3 percentage point.

The highest interest rate for KB DoubleMoa deposits will be raised to 2.55% per annum based on one-year maturity, and the highest interest rate for KB National Premium Savings Savings (fixed-equity savings) will also be raised to 3.75% based on five-year maturity.

An official from KB Kookmin Bank explained, “In line with the base rate hike and the recent rise in market interest rates, we raised the interest rate on deposit products by up to 0.3 percentage points.”

On the 26th, NH Nonghyup Bank, Hana Bank, and Woori Bank also announced to raise interest rates on deposits and savings accounts by 0.25 to 0.4 percentage points, and Shinhan Bank also raised interest rates for time deposits and savings-type deposit products by up to 0.4 percentage points from the previous day.

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