KB Kookmin Bank Raises Non-Face-to-Face Mortgage Rates by 0.2%

KB Kookmin Bank has increased the variable interest rates on its non-face-to-face mortgage products by 0.20 percentage points.

According to the financial sector on June 8, KB Kookmin Bank has reduced the preferential interest rate for its 'KB Star Apartment Loan I and II' products, which are based on the six-month new balance COFIX (Cost of Funds Index), by 0.2 percentage points. This reduction in the preferential rate will lead to higher loan rates for customers.

As a result, the interest rate for 'KB Star Apartment Loan I' has risen from an annual rate of 3.62% to 4.12% to a new range of 3.82% to 4.32%. Similarly, the rate for 'KB Star Apartment Loan II' has been adjusted from an annual rate of 3.52% to 4.92% to a new range of 3.72% to 5.12%. However, this rate adjustment is limited to loans for purchasing homes.

A Kookmin Bank official explained, "The interest rate adjustment was made as part of appropriate portfolio management."

Meanwhile, Woori Bank also raised the interest rate on its flagship mortgage product, 'Woori Apartment Loan (New COFIX 6-Month Variable)', by 0.70 percentage points on June 4, after exhausting the preferential interest rate limit. The interest rate increased from a range of 3.67% to 5.57% to a new range of 4.37% to 5.57%.