K-Bank Raises Deposit Interest Rate... "Fixed Deposit Interest Rate 3.5% Per Year"

Following Last Week's Savings Interest Rate Hike, Deposit Rates Also Raised
Up to 0.7%P Increase... Offering 3.5% Annual Rate for 1 Year

Provided by K Bank

[Asia Economy Reporter Minwoo Lee] K Bank, which raised interest rates on installment savings products last week, will also increase the interest rates on deposit products by up to 0.7 percentage points (P).

On the 26th, K Bank announced that starting today, the interest rate for the 'CodeK Time Deposit' will be raised by up to 0.7%P to an annual rate of 3.5% (for terms of one year or more).

The amount of the interest rate increase varies depending on the subscription period. For terms of 1 month or more but less than 3 months, and 6 months or more but less than 12 months, the rate will increase by 0.7%P. For terms of 3 months or more but less than 6 months, the increase is 0.6%P; for 1 year or more, 0.5%P; and for 3 years or more, 0.3%P.

The focus is on significantly raising interest rates for short-term products of one year or less. This reflects the trend of increased attention to short-term products amid expectations of future base rate hikes. Another advantage of the 'CodeK Time Deposit' is that the highest interest rate applies without any special conditions.

Additionally, the 'CodeK Time Deposit' applies a 'Rate Guarantee Service,' so customers who subscribe after August 13 will benefit from the increased interest rates.

A K Bank representative stated, "During this period of rising interest rates, we have significantly increased the rates for short-term products of three months or more to meet customer demand," adding, "We will continue to provide various differentiated benefits."

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