Up to 4% Annual... K Bank Raises Deposit Product Interest Rates by up to 0.8%P

Increase of 3 Types Including CodeK Free Savings and Main Transaction Preferential Free Savings

[Asia Economy Reporter Minwoo Lee] K-Bank will raise interest rates on deposit products, including two types of installment savings, by up to 0.8 percentage points (P).

On the 24th, K-Bank announced that it will increase the interest rates on three products: 'CodeK Freedom Installment Savings,' 'Main Transaction Preferential Freedom Installment Savings,' and the automatic lump-sum saving service 'Challenge Box.'

'CodeK Freedom Installment Savings' is an installment savings product where any customer can receive the highest interest rate without conditions. With this increase, the interest rate for a 1-year subscription period rose by 0.80%P from 2.90% per annum to 3.70% per annum. For a 6-month subscription period, it increased from 2.50% to 3.10% per annum; for 2 years or more but less than 3 years, from 3.10% to 3.75% per annum; and for a 3-year subscription period, from 3.40% to 3.80% per annum.

The interest rate for 'Main Transaction Preferential Freedom Installment Savings' was also raised. When preferential conditions are met, the maximum interest rate for a 1-year subscription period increased from 3.20% to 3.90% per annum. The preferential conditions for this product include ▲ salary transfer or automatic payment of communication fees via a K-Bank account (0.30%P) ▲ monthly usage of K-Bank check card of 200,000 KRW (0.30%P), among others. Differential increases were applied according to the subscription period, with the maximum interest rate for 3 years rising to 4.00% per annum.

Additionally, the automatic lump-sum saving service 'Challenge Box' also raised its preferential interest rate by 0.5%P, applying an annual rate of 3.5%. Challenge Box is a lump-sum saving service that allows customers to freely set goals from a minimum of 30 days to a maximum of 200 days within 5 million KRW, automatically calculating the weekly saving amount.

A K-Bank official said, "Ahead of the base interest rate hike, we are always practicing innovation and inclusive finance to provide customers with higher deposit interest rates," adding, "We will continue to strive to offer differentiated interest rate benefits to our customers."

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