You can't lower the interest rate on loans and only lower the interest rate on deposits and installments.

As the Bank of Korea lowered its benchmark interest rate last month and the market interest rate fell overall, banks are lowering interest rates on deposits and installment savings one after another.

As lending rates remain high to curb household loans, only the gap between bank deposit and lending rates is growing.

KB Kookmin Bank today lowered the interest rate of 10 fixed deposits and 12 reserve deposits in addition to KB DKDK travel savings by 0.10-0.25%p.

Earlier, Shinhan Bank, Hana Bank, SC First Bank and Toss Bank, Woori Bank and Nonghyup Bank also lowered interest rates on deposit products.