BNK Busan Bank Raises Fixed Deposit and Savings Interest Rates by up to 0.50%p

[Asia Economy Reporter Kim Hyo-jin] BNK Busan Bank announced that starting from the 30th, it will raise the interest rates on time deposits and installment savings by up to 0.50 percentage points depending on the product.

In line with the Bank of Korea's base rate hike, installment savings products will see an increase ranging from 0.30 to 0.50 percentage points, while deposit products will be raised by 0.25 to 0.40 percentage points.

First, the interest rate for the childbirth encouragement product ‘Aisarang Free Installment Savings (2-year term)’ will be raised by 0.50 percentage points from the previous maximum annual rate of 1.20% to 1.70% per year. The youth-targeted product ‘BNK Naemamdaro Installment Savings’ will be increased by 0.30 percentage points from the previous maximum annual rate of 1.30% to 1.60% per year for the 1-year term.