KB Kookmin Bank Raises Savings and Deposit Interest Rates by up to 0.4%p

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[Asia Economy Reporter Song Hwajeong] KB Kookmin Bank announced on the 15th that it will raise the interest rates of 39 types of time deposits and installment savings by up to 0.4%p starting from the 18th, following the Bank of Korea's base rate hike.

For KB Kookmin Bank's pet-themed product, KB Banryeo Haengbok Savings, the highest interest rate for a 3-year term will be changed to 3.60% per annum, and the KB Double Moa Deposit will be changed to a maximum annual rate of 2.30% for a 1-year term.

In particular, KB Kookmin Bank will raise the interest rates of two products, KB Golden Life Pension Preferential Deposit and KB Golden Life Pension Preferential Savings, which offer various benefits and preferential rates to elderly customers upon pension receipt, as well as increase the interest rate of the travel-specialized product KB Dugun Dugun Travel Savings by 0.4 percentage points, considering the increased travel demand following the advent of the COVID-19 endemic era.

A KB Kookmin Bank official stated, "We decided to raise deposit interest rates in line with the Bank of Korea's base rate hike and the recent rise in market interest rates," adding, "In particular, we significantly increased the interest rates of preferential products for the elderly and travel-themed products compared to other products, hoping to provide some support to customers during these difficult times caused by COVID-19."

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