KakaoBank to Raise Basic Interest Rates on Savings and Deposits by up to 0.40%p Starting from the 21st

[Asia Economy Reporter Yoo Je-hoon] KakaoBank announced on the 20th that it has decided to raise the basic interest rates on savings and deposits by up to 0.40 percentage points starting from the 21st.

According to KakaoBank, the interest rate on the 26-week installment savings will increase by 0.40 percentage points, and if automatic transfers are successful for 26 weeks, a preferential interest rate of 0.50 percentage points will be provided, resulting in a maximum annual interest rate of 3.00%.

The interest rates on flexible installment savings increased by 0.20 to 0.40 percentage points, and fixed deposits increased by 0.10 to 0.30 percentage points. For flexible installment savings, a preferential interest rate of 0.20 percentage points is applied when automatic transfer is requested. With this applied, the 1-year flexible installment savings offers an interest rate of 2.90%, and the 3-year flexible installment savings offers 3.40%.

Also, the 1-year fixed deposit interest rate rose by 0.25 percentage points to 2.50% annually, and the 3-year fixed deposit increased by 0.30 percentage points to 3.00% annually.

KakaoBank stated, "We raised the interest rates on savings and deposits to provide customers with competitive interest benefits," and added, "We will continue to strive to offer beneficial and enjoyable financial products and services to our customers."

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