KB Kookmin Bank Raises Floating Rate on Non-Face-to-Face Mortgage Loans by 0.20%p

Interest Rate Adjustment Limited to Home Purchase Loans Only

Bank: "Decision Made to Maintain an Appropriate Portfolio"

KB Kookmin Bank has raised the floating interest rate on its non-face-to-face mortgage loan products by 0.20 percentage points.

KB Kookmin Bank, Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

According to the financial sector on June 8, KB Kookmin Bank has reduced the preferential interest rate by 0.2 percentage points for the floating rate products of the 'KB Star Apartment Mortgage Loan I, II' that use the new balance COFIX for 6 months as the benchmark.

When the preferential rate is reduced, the interest rate offered to customers increases.

As a result, the interest rate for 'KB Star Apartment Mortgage Loan I' has increased from 3.62–4.12% per annum to 3.82–4.32% per annum. The interest rate for 'KB Star Apartment Mortgage Loan II' has also changed from 3.52–4.92% per annum to 3.72–5.12% per annum.

This rate adjustment is limited to loans used solely for home purchase purposes.

A representative from KB Kookmin Bank explained, "This decision was made to maintain an appropriate portfolio."

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