KakaoBank Raises Savings and Deposit Interest Rates by up to 0.3%p

Applied to New Subscribers Starting on the 28th

[Asia Economy Reporter Sim Nayoung] Internet-only bank KakaoBank is raising the basic interest rates for savings and installment savings by up to 0.3 percentage points (p) following the base interest rate hike. The new rates will apply to new subscribers starting on the 28th.

Looking at each product, the 26-week installment savings rate increased by 0.30 percentage points. An additional preferential interest rate of 0.50%p is applied upon successful automatic transfers for 26 weeks. As a result, the maximum annual interest rate of 2.50% can be received.

The Safe Box applies a basic annual interest rate of 1.10%, which is up 0.1 percentage points.

Interest rates for fixed deposit products rise by 0.2 to 0.3 percentage points. The fixed deposit interest rate for a 1-year maturity is 2.00% per annum, and for a 3-year maturity fixed deposit, the interest rate is 2.30% per annum.

The interest rate for flexible installment savings increased uniformly by 0.3 percentage points regardless of maturity. For a 1-year maturity flexible installment savings, an annual interest rate of 2.20% is applied.

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