Woori Bank Raises Interest Rates on Savings and Deposit Products by up to 0.50%p

[Asia Economy Reporter Yu Je-hoon] Woori Bank announced on the 25th that it will raise the interest rates on 21 regular savings accounts and 26 installment savings accounts by up to 0.50 percentage points (p) starting from the 26th. This measure follows the Bank of Korea's decision to raise the base interest rate by 25 basis points (1bp=0.01%) on the same day.

For deposit products, the non-face-to-face exclusive "Woori First Transaction Preferential Regular Savings" rate will increase from a maximum annual rate of 3.60% to 3.80%, while interest rates on other regular savings products will be raised by 0.10% to 0.30 percentage points.

In the case of installment savings, the non-face-to-face exclusive "Woori 200-Day Installment Savings" will see its maximum annual rate increase from 2.60% to 3.10%, a 0.50 percentage point rise, and most other installment savings products will have their rates increased by 0.10% to 0.25 percentage points.

The increased interest rates will apply to products subscribed to from the 26th onward, and customers can enjoy the same benefits not only at branch counters but also through non-face-to-face channels such as internet banking and smart banking.

A Woori Bank official stated, "We promptly raised product interest rates following the base rate hike," adding, "We plan to provide customers with tangible benefits by immediately reflecting market interest rates during this period of rising rates."

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