Bank deposits and savings interest rates will be lowered...Starting with Nonghyup and Woori Bank

The banking sector will lower the receiving rate to reflect the impact of the base rate cut.

This is the first adjustment since the Bank of Korea lowered its key interest rate by 0.25%p on the 11th.

From today (23rd), NH Nonghyup Bank will cut the interest rate on standing deposits by 0.25~0.4%p.

In addition, savings deposits will be reduced by 0.25% to 0.55%p and subscriptions will be reduced by 0.25%.

Woori Bank also decided to adjust the reserve deposit rate by 0.2%p from today, but increase the sales limit from 850,000 to 900,000 seats.

Separately, the preferential interest rate for credit loan transfer products will be reduced by up to 1.9% from the 25th to strengthen household loan management.