Savings up to 4.5% Annual Interest... KB Raises Deposit Rates by up to 0.4%p

Interest Rate Increase on 7 Types of Deposits and 20 Types of Savings Accounts

[Asia Economy Reporter Minwoo Lee] KB Kookmin Bank will raise the interest rates on deposit products by up to 0.4 percentage points in response to market interest rate fluctuations.

KB Kookmin Bank announced on the 29th that it will increase the interest rates on seven types of fixed deposits and 20 types of installment savings accounts accordingly.

Accordingly, the fixed interest rate type of the Kookmin Super Fixed Deposit will be raised by 0.4 percentage points for a 3-year maturity. The KB Banryeo Happiness Savings will increase by 0.3% for a 3-year maturity, offering a maximum annual interest rate of 4.5%.

For the Business Owner Preferential Savings, a maximum interest rate of 4.0% per annum will be provided based on a fixed installment savings plan with a 3-year maturity. This is intended to support small business owners who have been struggling due to the prolonged COVID-19 pandemic.

A KB Kookmin Bank official stated, "This interest rate change is being implemented in active acceptance of the Financial Services Commission's plan to reorganize the deposit interest rate calculation system," adding, "Going forward, KB Kookmin Bank plans to check market interest rate fluctuations at least once a month and reflect them in the base interest rate."