Korea Military Mutual Aid Association Raises Deposit Product Interest Rate to 4.6%

Applicable to Subscribers Joining After July 1

The Korea Military Mutual Aid Association (KMMMA) is raising the interest rate for its deposit-type savings product to 4.6%, an increase of 0.4 percentage points.

On June 17, the Korea Military Mutual Aid Association announced that it has raised the interest rate on its deposit-type lump-sum entrusted savings product to a maximum of 4.60%. This decision takes into account the rise in market interest rates and the stable management of the fund, and is also intended to return the solid performance achieved last year—1 trillion won in operating profit and 400 billion won in net profit—to its members.

As a result, the interest rate for the deposit-type lump-sum entrusted savings product will increase from 3.83% (monthly payment, six-month subscription) to a maximum of 4.60% (maturity payment, two-year subscription).

The new rate will apply to subscribers who join after July 1. The increased interest rate is at least 1.5 percentage points higher than the average fixed deposit interest rate at commercial banks.

Jae-Kwan Chung, Chairman of the Korea Military Mutual Aid Association, stated, "Based on last year's financial results—achieving excellent business performance and prioritizing member welfare—we have decided to raise the interest rate. In today's highly volatile financial environment, the association's savings program will contribute to the stable asset building of our members by offering higher interest rates than those available at commercial banks."

This content was produced with the assistance of AI translation services.