[Asia Economy Reporter Buaeri] K Bank announced on the 30th that it has lowered the interest rates on two types of credit loan products by up to 0.77 percentage points per year.
The interest rates for overdraft accounts and credit loans have been reduced.
The interest rate for the 'Overdraft Account' product, which offers a maximum limit of 200 million KRW, has been lowered by up to 0.77 percentage points. The minimum interest rate for the overdraft account decreased from 5.38% to 4.82%.
The interest rate for the 'Credit Loan' product, with a maximum limit of 300 million KRW, has been reduced by up to 0.2 percentage points depending on the credit rating. The minimum interest rate dropped from 4.79% to 4.57%.
A K Bank representative said, "Following the maximum 0.5 percentage point reduction in credit loan interest rates last month, we have further lowered loan interest rates within a month," adding, "Even during a period of rising interest rates, we are strengthening interest rate benefits by lowering loan interest rates."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
