Sh Suhyup Bank Raises Interest Rates on 17 Types of Savings and Deposits by up to 0.5%P

[Asia Economy Reporter Song Seung-seop] Sh Suhyup Bank has raised the interest rates on savings and installment savings by up to 0.5 percentage points.

According to Sh Suhyup Bank on the 24th, interest rates for 10 types of deposits and 7 types of installment savings were adjusted starting today following the Bank of Korea's base rate hike.

For the Sh Marine Plastic Zero! Deposit and the non-face-to-face exclusive product Hey Time Deposit, the interest rate for a 1-year term is increased by 0.4 percentage points from a maximum of 1.85% to 2.25%. Among installment savings products, the Sh Marine Plastic Zero! Installment Savings is raised by 0.2 percentage points from a maximum of 2.6% to 2.8% for a 1-year term, and the Sh Lifetime Main Transaction Preferential Installment Savings is increased by 0.2 percentage points from a maximum of 3.0% to 3.2% for a 3-year term.

A representative of Sh Suhyup Bank stated, “We decided to raise the interest rates on savings and installment savings products reflecting the recent Bank of Korea base rate hike and the rise in market interest rates,” adding, “We plan to continuously provide various products and services to help Sh Suhyup Bank customers with their financial management and asset formation.”