Savings interest rates increased by up to 0.80%p... BNK Busan Bank adjusts interest rates for fixed deposits and savings products

Busan Bank Headquarters.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] BNK Busan Bank will raise the interest rates on fixed deposits and installment savings by up to 0.80%p for each product starting from the 18th.

In line with the increase in the Bank of Korea's base rate, installment savings products will be raised by 0.40%p to a maximum of 0.80%p, and deposit products will be raised by 0.25%p to a maximum of 0.60%p.

The interest rate for the product ‘BNK Naemamdeuro Deposit,’ which allows customers to directly select and change preferential interest rates, will be increased by 0.60%p from the previous highest annual rate of 2.40% to 3.00% for the one-year term.

For installment savings products, the ‘2030 Busan World Expo Installment Savings,’ a product wishing for the hosting of the World Expo Busan, will have its interest rate increased by 0.60%p from the previous highest annual rate of 4.60% to 5.20% for the three-year term.

The interest rate for the pet-exclusive product ‘Pet Installment Savings’ will be raised by 0.80%p from the previous highest annual rate of 3.20% to 4.00% for the one-year fixed installment savings.

Other deposit and installment savings products will also be promptly increased by 0.25%p to 0.60%p.

Busan Bank is strengthening its customer-centered interest rate policy by quickly raising fixed deposit and installment savings interest rates above the increase in the Bank of Korea's base rate in line with the ongoing interest rate hike trend this year.

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