K Bank Lowers Mortgage Loan Interest Rate by 0.24%P

K Bank Raised Apartment Mortgage Rates by 0.43%p on the 27th of Last Month, While Commercial Banks Were Cutting Rates
Decided to Lower by 0.24%p Just 5 Days After the Increase

Internet-only bank K Bank announced on the 1st that it will lower the interest rates on its apartment mortgage variable rate products by 0.24 percentage points.

This reverses the interest rate policy just five days after raising the additional interest rate on apartment mortgages by 0.43 percentage points on the 27th of last month.

As of this date, the interest rates on apartment mortgage variable rate products range from 3.96% to 7.73% per annum, and the installment-type (based on 5-year financial bonds) products range from 3.82% to 7.00% per annum.

K Bank stated, "We operate product interest rates flexibly according to market conditions to enhance the competitiveness of loan products and reduce customers' interest rate burdens."

Previously, when K Bank raised the additional interest rate on apartment mortgages, it explained that "the additional interest rate was increased because the variable rate product's interest rate was lower than that of the installment-type."