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

[Asia Economy Reporter Buaeri] Shinhan Bank will raise interest rates on 36 types of fixed deposits and installment savings accounts by up to 0.4%p starting from the 30th.

According to Shinhan Bank on the 27th, the interest rate for the representative fixed deposit product 'S Dream Fixed Deposit' will increase by 0.2~0.4%p depending on the maturity, and the 1-year term of the representative installment savings product 'Shinhan Annyeong, Bangawo Savings' will change to a maximum interest rate of 4.6% per annum.

Additionally, the interest rate for the Shinhan Saeheemang Savings, an installment savings product supporting the accumulation of funds for low-income earners, will rise by 0.3%p to a maximum of 5.0% per annum.

A Shinhan Bank official stated, "In line with the Bank of Korea's base rate hike and the rise in market interest rates, we are increasing the interest rates on all deposit and savings products by 0.1% to 0.4%p depending on the product and term," adding, "We have quickly raised deposit product interest rates following last month to meet customers' interest rate needs."