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“Where is the 3% term deposit”… High interest rate deposits appear one after another

After the Bank of Korea raised the base rate, banks have been releasing high-interest rate products of over 2% per annum. As a result, there are signs that liquidity in the market is also flowing to banks.

According to the financial industry on the 3rd, deposits with high interest rates of 2% per annum in banks, which have been difficult to find in the market, are appearing one after another. Internet banks have also introduced savings products that offer interest rates up to 10% per annum.

SC First Bank offers a special interest rate of 2.1% to first-time customers who sign up for term deposits (12-month maturity) by the end of this month. Existing customers can receive a special interest rate if the increase in the balance of general deposits, trust contracts, and funds (excluding bancassurance) is between 30 million won and 2 billion won compared to the previous month. An official from SC First Bank said, “We have prepared a special product to meet customers’ expectations and deposit demand during the interest rate hike period and to secure sufficient liquidity to prepare for next year’s business.”

Jeonbuk Bank is also conducting a ‘special sale of time deposits to commemorate the 52nd anniversary of the founding’. The deposit amount for the special edition is between 3 million won and 500 million won, and the subscription period is 12 months or 14 months. This time deposit special offer provides an interest rate of up to 2.0% by adding 0.1 percentage points to the basic preferential rate of 0.6 percentage points (0.8 percentage points for 14 months) plus an additional preferential rate for non-face-to-face channel subscriptions or non-issue of paper bankbooks. IBK Industrial Bank’s ‘IBK Success Law Deposit (Compound Bond)’ product is 2.04% for corporate customers, while Busan Bank’s ‘The Special Edition Term Deposit’ and Gwangju Bank’s ‘KJB Apartment Love Term Deposit’ are 2.0% each. You can get interest rates.

In the savings bank sector, Moa Savings Bank’s ‘Moa Sampro Special Edition Term Deposit’ offers the highest interest rate of 3.0%. This special edition started on the 10th of last month and is running up to a limit of 50 billion won.

Moa Savings Bank also raised interest rates on deposits from the 1st. On a 12-month basis, the interest rate on time deposits rose from 2.2% to 2.4%, and the interest rate for revolving time deposits rose by 0.2 percentage points from 2.3% to 2.5%, respectively. The interest rate of ‘e-Moa Term Deposit’, a non-face-to-face product, rose 0.3 percentage point from 2.2% to 2.5%.

Sangsangin Financial Group also announced on the same day that it would raise the interest rate on time deposit products to a maximum of 2.7%. It is a 0.09 percentage point increase in the interest rate of time deposits, which were issued as app-only products in Sangsangin Savings Bank application (app) ‘Bang Bang Bang’ and Sangsangin Plus Savings Bank application ‘Kkkuk’, from 2.61% to 2.7%. An official from Sangsangin Financial Group said, “As the household burden is increasing due to the recent increase in loan interest rates, we have raised the time deposit rate to help alleviate the interest burden.” efforts,” he said, explaining the background for the rate hike.

Among the savings products, K-Bank’s ‘Hot Deal Savings x Woori Card’ offers the highest interest rate at 10% per annum. If you use a credit card, it is a net savings that gives you a preferential interest rate. You can receive up to 10% of the base rate of 1.8% plus the preferential rate of 8.2%. The maturity of the savings account is 12 months, and you can sign up for a maximum of 200,000 won per month.

Woori Bank’s ‘Woori Magic Savings Savings by Lotte Card’ offers 7% interest rate and ‘Woori Pay Savings Savings’ provides 6% interest rates. Jeju Bank’s ‘New Hope Growing Savings’ and Jeonbuk Bank’s ‘JB Card Jaetech Savings’ also offer interest rates of 6%. Among the savings bank savings products, The-K Savings Bank’s ‘e-The Hope Sharing Regular Savings’ offers the highest interest rate of up to 6.5%. Next, Hanwha Savings Bank’s ‘Life Plus Fixed-Term Deposit (fixed-rate)’ provided an interest rate of 6.3%, Accuon Savings Bank’s ‘Accuon More Free Savings Savings’ and Welcome Savings Bank’s ‘Wellbang Safe Savings’ offered interest rates of up to 6%, respectively. do. KB Kookmin Bank’s flagship product, ‘KB Star Term Deposit’ (non-face-to-face only, 12-month maturity), has an interest rate of 1.53% per annum, the highest in 22 months since January 2020.

Along with the increase in deposit interest rates, the balance of time deposits in the five major commercial banks, including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, rose from 653,135.4 billion won on the 24th of last month, the day before the BOK’s base rate hike, to 654,943.8 billion won on the 30th, 1 in six days. increased by more than 8 trillion won. An official from the banking sector said, “The effect of raising the base rate is the greatest, but commercial banks are also moving quickly, such as raising the deposit interest rate in consideration of the criticism that ‘they are taking care of themselves by greatly increasing the loan interest rate’.”

[명지예 기자 / 김혜순 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]

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