Busan, South Korea (Wade Lee via Unsplash).

South Korea's average deposit, loan interest rates fell in May

Interest rate on new deposits fell 8 basis points from a month earlier.

South Korean banks’ average interest rate on new deposits and new loans fell in May 2025, according to Monetary and Financial Statistics released by the Bank of Korea (BOK).

Average interest rate on new deposits was 2.63%, down 8 basis points from the previous month.

Average interest rate on new loans was 4.17%, down 2 basis points from the previous month.

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