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While the Bank of Korea has held its lowest interest rate for more than five months, banknote deposit and loan interest rates last month were generally similar to September.
The Bank of Korea announced that in October the rate of receipt of the type of savings based on the new amount managed by depository banks was 0.88% per annum as in September.
The interest rate on loans was 2.66% per annum, the same as in September, but the interest rate on household loans has increased by 0.05% since September and the mortgage interest rate has increased by 0. 03%.
The deposit interest rate based on the new 1-year term deposit amount for credit unions and mutual finance was 1.66% and 1.09%, respectively, which was the same as a month ago, but the interest rate on mutual savings bank deposits increased by 0.12 percentage points from September to 1.94%. .
Interest rates on loans also increased by 0.45 percentage points for savings banks, while interest rates on loans for credit unions, mortgages and Saemaul Geumgo fell from 0.03 to 0.12 percentage points from September.
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