K Bank Raises Interest Rate on 'CodeK Time Deposit' Up to 4% Per Annum

0.2% to 0.5% Point Increase Depending on Subscription Period

K Bank announced on the 13th that it will raise the interest rate of its time deposit product, ‘CodeK Time Deposit,’ to a maximum of 4% per annum.

Starting today, K Bank will increase the CodeK Time Deposit interest rates differentially by 0.2% to 0.5% points depending on the subscription period. For a subscription period of 12 months or more but less than 2 years, the rate will be raised by 0.2 percentage points to 4.0% per annum, and for 3 months or more but less than 6 months, it will also be raised by 0.2 percentage points to 3.5% per annum. For periods of 6 months or more, the largest increase of 0.5 percentage points will be applied, resulting in an interest rate of 3.9% per annum.

The CodeK Time Deposit is characterized by offering the highest interest rate to anyone who subscribes without complicated conditions such as card usage performance. The minimum subscription amount is 1 million KRW, and there is no maximum subscription limit.

By introducing a ‘Rate Guarantee Service,’ customers can receive the increased interest rate even if the rate rises within two weeks after subscription. For example, customers who subscribed between the 31st of last month and the 12th of this month can automatically receive the increased interest rate without having to prematurely terminate their existing product.

A K Bank official said, “We raised the time deposit interest rate to the highest level in the banking sector, at around 4% per annum, to provide greater interest benefits to our customers.”

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