NH Nonghyup Bank to Lower Deposit Interest Rates by 0.15?0.4%p Starting from the 12th

[Asia Economy Reporter Kangwook Cho] NH Nonghyup Bank decided to lower the interest rates on deposit products starting from the 12th. This marks the fourth commercial bank to reduce deposit interest rates following KB Kookmin Bank, SC First Bank, and Citibank, which lowered their rates due to the Bank of Korea's base rate cut.

Nonghyup Bank announced that it lowered the interest rates on deposit products by 0.15 to 0.40 percentage points starting from that day.

Accordingly, the base interest rates for fixed-term deposits decreased by 0.15 to 0.25 percentage points.

For basic products such as regular time deposits and flexible installment time deposits, the interest rate for terms between one year and less than two years dropped by 0.25 percentage points from the previous annual 0.70% to 0.45% per annum.

The base interest rates for installment savings deposits decreased by 0.15 to 0.40 percentage points. The interest rate for basic personal installment savings for terms between one year and less than two years fell by 0.20 percentage points from the previous annual 0.90% to 0.70% per annum.

The one-year interest rate for housing subscription savings decreased by 0.20 percentage points from 1.25% to 1.05% per annum, and the three-year interest rate for housing subscription installment savings dropped from 1.20% to 1.00% per annum.

The interest rates for personal and corporate demand deposit savings accounts (MMDA) also decreased by 0.05 to 0.10 percentage points.

This content was produced with the assistance of AI translation services.