KB Kookmin Bank Expands Preferential Rate for Non-Face-to-Face Mortgage Loans by 0.1%p
Hana Bank Lowers Time Deposit Rates by 0.2%p
As interest rates enter a downward phase, commercial banks are also lowering their loan and deposit rates. KB Kookmin Bank has reduced the interest rates on some non-face-to-face mortgage loans, while Hana Bank has cut its time deposit rates.
According to the banking sector on the 14th, KB Kookmin Bank expanded the preferential interest rate by 0.1 percentage points on its non-face-to-face, apartment-exclusive product 'KB Star Apartment Mortgage Loan (periodic type·mixed rate)' starting from that day. When the preferential interest rate increases, the actual interest rate applied to borrowers decreases accordingly.
As a result, the loan interest rate for apartment purchase funds dropped from 3.92% per annum to 3.82%, and the refinancing and general fund loan interest rates fell from 3.94% to 3.84%.
On the same day, Hana Bank lowered its time deposit interest rates by 0.20 percentage points.
Hana Bank announced on its website that it would reduce the base interest rates by 0.20 percentage points for three deposit products?'Hana Time Deposit,' 'High Unit Plus Time Deposit,' and 'Time Deposit'?for terms ranging from 12 months to 60 months.
Accordingly, the base interest rate for Hana Time Deposit will be adjusted from 2.60% to 2.40% per annum, the High Unit Plus Time Deposit from 2.50?2.60% to 2.30?2.40%, and the Time Deposit from 2.40?2.50% to 2.20?2.30%, respectively.
However, for the representative product Hana Time Deposit, while the base interest rate is lowered, the preferential interest rate is expanded to maintain the highest interest rate level at 3.00% per annum.
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