[Asia Economy Reporter Song Seung-seop] Welcome Savings Bank announced on the 8th that it has raised the interest rate on fixed deposits up to an annual rate of 2.3%.
The interest rate increase, effective from the previous day, applies only to contracts of 12 months or longer. It is up to 0.2 percentage points higher than the previous rate.
With this rate hike, Welcome Savings Bank's fixed deposit products offer an annual interest rate of 2% for products with terms between 12 months and less than 24 months, and 2.1% for terms of 24 months or more. Additionally, customers who subscribe via the bank's mobile application (app) or internet banking can receive a preferential interest rate of 0.2 percentage points.
A representative from Welcome Savings Bank stated, "Both new and existing customers can enjoy high interest benefits without any deposit limit restrictions."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
