Kyongnam Bank raises deposit rate

In line with the recent rise in market interest rates and the Bank of Korea’s base rate hike, local banks such as Kyongnam Bank raise interest rates on deposits.

From the 1st of next month, Kyongnam Bank will raise interest rates for 27 types of short-term receiving products such as fixed-term deposits (special sale) for accompanying audits.

In the case of accumulation-type and deferred-type products, the rate is increased by 0.30%p. However, fixed-term savings and re-constitutional savings for military service will be raised by 0.20%p.

Short-term receipts (commercial papers, repurchase contingent bonds, cover notes) rise by 0.30%p, and frequent deposits and withdrawals by 0.20%p. The rise in non-face-to-face products such as smartphones and internet banking is also the same as that of face-to-face products.

After the Bank of Korea announced that it would raise the base interest rate by 0.25%p on the 25th, the four major commercial banks and regional banks all at once raised the interest rates on deposits, which is the recent rise in market interest rates and the It is interpreted as reflecting the criticism from customers that the difference) is large.

An official from BNK Kyongnam Bank said, “The market has reflected the rate hike in some parts and the base rate hike is also predicted.

Reporter Seulgi Lee



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