KakaoBank to Lower Savings and Deposit Interest Rates by up to 0.7%p Starting Tomorrow

Fixed Deposit Interest Rate Drops from 3.10% to 2.90% Per Annum

Internet-only bank KakaoBank will lower its savings and installment savings interest rates by up to 0.7 percentage points (p) starting tomorrow.

According to the financial sector on the 27th, KakaoBank decided to reduce the interest rates of six products, including fixed deposits and installment savings, by 0.2 to 0.7%p from the 28th.

KakaoBank

Accordingly, the interest rate for fixed deposits (12-month maturity) will decrease by 0.2%p from 3.10% per annum to 2.90% per annum.

For flexible installment savings, the 12-month maturity interest rate will drop by 0.4%p from 3.50% per annum to 3.10% per annum, and the interest rate for maturities over 2 years will decrease by 0.7%p from 3.50% per annum to 2.80% per annum.