"3% Annual Interest Unconditionally"... K-Bank Raises Fixed Deposit Rates by up to 0.7%P

All Fixed Deposits Over 1 Year Offer Interest Rates in the 3% Range
No Additional Requirements Needed

[Asia Economy Reporter Minwoo Lee] K Bank is raising the interest rates on fixed deposits with a subscription period of over one year to the 3% range.

K Bank announced on the 30th that starting from the 1st of next month, it will increase the interest rates of the 'Code K Fixed Deposit' by up to 0.7 percentage points (p). Accordingly, for subscription periods of 1 year to less than 2 years, the rate will rise from 2.40% to 3.00% per annum; for 2 years to less than 3 years, from 2.55% to 3.20%; and for 3 years, from 2.80% to 3.50%.

For subscription periods of 3 months to less than 6 months, the rate will increase from 1.70% to 1.80%, and for 6 months to less than 12 months, from 2.00% to 2.30% per annum.

As a result, all fixed deposit interest rates for periods over one year at K Bank have entered the 3% range. While some savings banks have offered fixed deposit products with interest rates in the 3% range, K Bank is the first bank to offer representative fixed deposit products with rates in the 3% range.

Provided by K Bank

In particular, the Code K Fixed Deposit, which anyone aged 17 or older can subscribe to on a daily basis, provides interest rate benefits by period immediately upon subscription without complicated preferential conditions, unlike other banks' products that have a large gap between the base and maximum interest rates. Additionally, a rate guarantee service applies, which retroactively applies any rate increase within 14 days after subscription from the effective date. Customers who subscribed to the Code K Fixed Deposit from the 19th of this month will also receive the benefits of this interest rate increase retroactively.

A K Bank official stated, "We raised the fixed deposit interest rates by period beyond the base rate hike of 0.25 percentage points to expand consumer benefits," adding, "We will continue to strive to provide more benefits to customers through competitive products."