KB Kookmin Bank to Raise Savings and Deposit Rates by 0.20–0.30 Percentage Points per Annum

"KB Star Regular Deposit" One-Year Maturity Rate Rises to 3.20% Per Annum
Base Rates for Major Installment Savings Products Also to Increase Starting July 24

KB Kookmin Bank will raise interest rates on its major savings and time deposit products by up to 0.30 percentage points per year, in line with the Bank of Korea’s policy rate hike.

On the 9th, a KB Kookmin Bank branch in Yeouido, Seoul. Yonhap News Agency

According to the financial sector on July 22, KB Kookmin Bank will increase the base annual rate for time deposits by between 0.20 and 0.30 percentage points starting today.

As a result, the one-year maturity rate for KB Kookmin Bank’s flagship online time deposit product, the "KB Star Regular Deposit," has been adjusted from 2.90% per annum to 3.20% per annum. The one-year maturity rate for the "General Regular Deposit" product has been raised from 2.25% to 2.50% per annum. In addition, the maximum interest rate for the "KB Golden Life Pension Deposit," designed for customers who receive pension payments through KB Kookmin Bank, has increased from 3.20% per annum to 3.40% per annum.

The base rates for major installment savings products will also rise starting July 24. The maximum one-year interest rate for the representative online installment savings product "KB Clear Sky Installment Savings" will climb from 3.25% per annum to 3.45% per annum. The "KB Kookmin Happiness Installment Savings," created to support asset building among socially vulnerable groups such as recipients of basic living subsidies and single-parent families, will see its base rate increased by 0.30 percentage points, raising the maximum interest rate to 5.70% per annum.

A KB Kookmin Bank official explained, "We have adjusted interest rates for major savings and installment savings products to support customers in building their assets, reflecting the recent policy rate hike and the upward trend in market interest rates."

Previously, on July 16, after the Bank of Korea raised the policy rate from 2.50% to 2.75% per annum—a 0.25 percentage point increase—Woori Bank and Shinhan Bank also raised interest rates on their major savings and installment savings products.

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