BNK Busan Bank Raises Savings and Deposit Interest Rates by up to 0.3%p

[Asia Economy Reporter Yu Je-hoon] BNK Busan Bank announced on the 30th that it will raise the interest rates on time deposits and installment savings by up to 0.30 percentage points per product starting from the 31st.

Busan Bank will increase the interest rates on deposit products by 0.15 to 0.25 percentage points and on installment savings products by 0.20 to 0.30 percentage points in line with the Bank of Korea's base rate hike.

First, the interest rate on the BNK Naemamdaero Deposit, a product where customers can directly select and change preferential rates, will be raised by 0.25 percentage points from the previous highest annual rate of 2.15% to 2.40% for the one-year term.

For installment savings products, the interest rate on the 2030 Busan World Expo Installment Savings, a product supporting the bid for the World Expo in Busan, will be increased by 0.30 percentage points from the highest annual rate of 4.30% to 4.60% for the three-year term. Other deposit and installment savings products will also be promptly raised by about 0.25 percentage points for terms of one year or longer, reflecting the Bank of Korea's base rate hike.

Meanwhile, Busan Bank also raised the interest rates on time deposits and installment savings by up to 0.4 percentage points in April in line with the Bank of Korea's base rate increase.

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