K Bank Raises Fixed Deposit Interest Rate by an Additional 0.1%P

[Asia Economy Reporter Kiho Sung] K Bank announced on the 1st that it will raise the interest rate of its representative deposit product, 'CodeK Fixed Deposit,' by 0.1 percentage points.

Earlier, immediately after the base rate hike announcement in August, K Bank was the first in the banking sector to raise the fixed deposit interest rate by 0.2 percentage points. As a result, as of the end of September, the number of customers, deposits, and loans have shown continuous growth. As of the end of September, the number of customers was 6.6 million, with deposits of 12.31 trillion KRW and loans of 6.18 trillion KRW. Compared to the end of the second quarter, this represents an increase of 410,000 customers (6.19 million at the end of Q2), and deposits increased by more than 1 trillion KRW (11.29 trillion KRW at the end of Q2) due to continuous growth in July and August.

The parking account 'Plus Box,' which pays an annual interest rate of 0.5% even if deposited for just one day, is also popular. In particular, it can be divided into up to 10 accounts depending on the purpose, and the limit is 300 million KRW, the highest level in the banking sector.

A K Bank official said, "Following the 0.2 percentage point increase in August, we are raising the interest rate of K Bank's representative deposit product, 'CodeK Fixed Deposit,' by an additional 0.1 percentage points. We will continue to provide more differentiated customer benefits, such as the ongoing two-month interest cashback event for low- to mid-credit customers."

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