Hana Bank Raises Savings and Deposit Interest Rates Starting Today

[Asia Economy Reporter Kiho Sung] Hana Bank will raise the interest rates on savings and time deposits by 0.1 to 0.3 percentage points annually, reflecting the Bank of Korea's base rate hike.

According to the banking sector on the 3rd, Hana Bank will apply the revised interest rates to deposit products starting today.

Fixed deposits (time deposits) will increase by up to 0.2 percentage points annually, and installment savings (savings accounts) will rise by up to 0.3 percentage points annually. Accordingly, the representative fixed deposit product, Godanwi Plus (fixed interest type) time deposit, will see its base interest rate increase by 0.2 percentage points from 0.4% to 0.6% for a subscription period of 6 months to less than 1 year, and by 0.15 percentage points from 0.75% to 0.9% for a 3-year subscription period. For the installment savings product Hana OneQ Savings, the base interest rate for a 1-year subscription period will rise by 0.3 percentage points from 0.7% to 1.0%. For regular savings, the base interest rate will increase by 0.25 percentage points from 0.45% to 0.7% for a subscription period of 6 months to less than 1 year, and from 0.75% to 1.0% for a 3-year subscription period.

Earlier, major commercial banks have been raising savings and time deposit interest rates in response to the base rate hike. Shinhan Bank raised savings and time deposit rates by 0.2 to 0.3 percentage points starting from the 30th of last month, NH Nonghyup Bank increased rates by 0.05 to 0.35 percentage points from the 1st of this month, and Woori Bank also raised rates by 0.1 to 0.3 percentage points on the same day. Among internet-only banks, K Bank raised its time deposit interest rates by 0.2% starting from the 28th of last month.

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