Photo by Ciaran O'Brien via Unsplash.

South Korea interest rates for new deposits, loans rose in October: BOK

The interest rate for outstanding amounts of deposits and loans also rose.

The average interest rate of new deposits in South Korea rose to 3.95% in October, up 14 basis points (bp) compared to the previous month, according to data from the Bank of Korea (BOK).

The average rate of interest rate on new loans, meanwhile, rose 7 bp to 5.24% over the same period.

ALSO READ: Korean banks’ delinquency ratio drops to 0.39% in September

For outstanding amounts of deposits, the average interest rate rose 4 bp to 2.72% by end-October.

Meanwhile, the average interest rate on outstanding amounts of loans as of end-October was 5.19%, up 2 bp from September.

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Entrepreneurship remains a pipedream for many Filipinos
Enterprisers struggle with cumbersome loan requirements and high collateral.
Philippine central bank eyes AI rules for banks
Artificial intelligence should not diminish banks’ responsibility to uphold data privacy.
Westpac appoints Kate Dee as chief people officer
She has been the chief people officer of Bupa Asia Pacific since 2018.
Retail Banking
SMBC inks MOU to explore commercialization of stablecoins
They will explore technical, regulatory, and market infrastructure requirements for it.

Exclusives

Entrepreneurship remains a pipedream for many Filipinos
Enterprisers struggle with cumbersome loan requirements and high collateral.
Philippine central bank eyes AI rules for banks
Artificial intelligence should not diminish banks’ responsibility to uphold data privacy.
RCBC boosts rural presence with ATM Go
The service, which allows cardless transfers, is now available in all Philippine cities.
BCA superapp drives digital transaction growth
Inter-account transfers were the most widely used service, followed by virtual payments.