KB Kookmin Bank Raises Loan Interest Rates Including Mortgage Loans by up to 0.2%P

KB Kookmin Bank has raised the interest rates on major loan products by up to 0.2 percentage points.

According to KB Kookmin Bank on the 11th, the bank sent an official notice to its branches informing them of the increase in mortgage loan interest rates.

After the increase, the variable mortgage loan interest rates based on the new COFIX range from 4.44% to 5.84%, and based on the outstanding balance COFIX range from 4.39% to 5.79%, with both the upper and lower limits rising by 0.2 percentage points compared to the previous day. For mixed mortgage loan interest rates, as of this date, the range is 4.34% to 5.74%, with both the upper and lower limits increasing by 0.1 percentage points.

The variable jeonse loan interest rates (based on the new COFIX) range from 4.11% to 5.51%, with both the upper and lower limits rising by 0.2 percentage points compared to the previous day. Based on the outstanding balance COFIX, the rates range from 3.97% to 5.37%, with both the upper and lower limits increasing by 0.2 percentage points.

A KB Kookmin Bank official explained, "The interest rate operation criteria were changed to maintain an appropriate portfolio for household loans," adding, "Even after the change, the loan interest rates remain low, and for the mixed mortgage loan, which is the most popular among customers, the rates are at the lowest level in the banking sector."

Starting from the 13th, KB Kookmin Bank will impose an age limit of 34 years or younger for 50-year maturity mortgage loans. This move by the banking sector is interpreted as a response to the financial authorities' request to curb household loan demand. Kim Joo-hyun, Chairman of the Financial Services Commission, stated at the National Assembly's Finance and Economy Committee audit held on the same day, "We will make every effort to manage the quantity and quality of household debt."

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