Shinhan Bank Also Lowers Savings and Deposit Interest Rates... Maximum Reduction of 0.4%p
[Asia Economy Reporter Haeyoung Kwon] Shinhan Bank is lowering the interest rates on major deposit products in line with the Bank of Korea's base rate cut.
According to the financial sector on the 16th, Shinhan Bank will reduce the interest rates on major savings and time deposits by up to 0.4 percentage points starting today.
Time deposit interest rates will be lowered by 0.1 to 0.2 percentage points depending on the product and subscription period, and installment savings interest rates will be reduced by 0.1 to 0.4 percentage points. Demand deposit savings will be adjusted by 0.1 to 0.2 percentage points according to the amount bracket.
The interest rates for Shinhan S Dream Time Deposit, Solpyeonhan Time Deposit, and Shinhan ISA Time Deposit will each be lowered by 0.2 percentage points. Shinhan S Dream Installment Savings, Shinhan First Salary Dream Installment Savings, and Shinhan Insaja Freedom Installment Savings will also be reduced by 0.2 percentage points.
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Following the Bank of Korea's base rate cut, KB Kookmin, NH Nonghyup, and Hana Bank have also lowered the interest rates on their major deposit products.
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