NongHyup Bank to Lower Deposit Interest Rates by Up to 0.3 Percentage Points Starting Tomorrow

NH Nonghyup Bank announced on the 17th that it will lower the interest rates on fixed-term deposits by 0.2 to 0.3 percentage points starting from the 18th. The interest rates on installment savings deposits will be reduced by 0.05 to 0.3 percentage points, and the rates on subscription deposits and tax-saving savings will be lowered by 0.2 to 0.25 percentage points respectively.

A Nonghyup Bank official explained, "This reflects the decline in market interest rates, including the base rate cut."

Earlier, on the 6th, Nonghyup Bank reduced the interest rates on non-face-to-face mortgage loans by up to 0.3 percentage points and on non-face-to-face credit loans by up to 0.4 percentage points. On the 12th of last month, it also lowered the interest rates on non-face-to-face mortgage loans and both face-to-face and non-face-to-face jeonse loans.