Savings Interest Rate in the 3% Range... K Bank Raises Deposit Rates by up to 0.4%P

Base Rate Increase Above Standard

[Asia Economy Reporter Minwoo Lee] K Bank has raised the interest rates on its deposit products (savings and installment savings) by up to 0.4 percentage points (P).

On the 6th, K Bank announced that starting today, it will increase the interest rates on deposit products such as ▲CodeK Fixed Deposit ▲CodeK Flexible Installment Savings ▲Main Transaction Preferential Flexible Installment Savings ▲Plus Box ▲Challenge Box by up to 0.4 percentage points.

For CodeK Fixed Deposit, the interest rate for a subscription period of one year or more will increase from 2.1% per annum to 2.4% per annum, a 0.3%p rise, and for a 36-month subscription period, it will increase from 2.4% per annum to 2.8% per annum, a 0.4%p rise. CodeK Fixed Deposit applies the highest interest rate without complicated conditions and offers a 'Rate Guarantee Service' where if the interest rate rises within 14 days of subscription, the increased rate is retroactively applied from the subscription date.

For CodeK Flexible Installment Savings, the interest rate for a one-year subscription period will rise from 2.4% per annum to 2.6% per annum, a 0.2%p increase, and for a three-year subscription period, it will rise from 2.6% per annum to 3.0% per annum, a 0.4%p increase. The Main Transaction Preferential Flexible Installment Savings will increase by 0.1 to 0.3%p depending on the subscription period, with a maximum interest rate of 3.1% per annum (for a 36-month subscription period).

The Plus Box, a parking account that pays interest on up to 300 million KRW?the highest in the industry?even if held for just one day, will see its interest rate increase from 1.0% per annum to 1.3% per annum, a 0.3%p rise. The Challenge Box, an automatic lump-sum savings product, has raised the preferential interest rate applied upon achieving the target, providing customers who meet their goals with an interest rate of 2.6% per annum.

A K Bank official stated, "We have implemented interest rate increases exceeding the base rate hikes for each product to expand customer benefits," adding, "We will continue our efforts to provide benefits and enjoyment through our products."

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