KB Kookmin Bank is set to raise interest rates on key household loan products. Following a reduction in the limits for mortgage loans aimed at home purchases, the bank is accelerating its management of total loan volumes.
According to the financial sector on July 29, Kookmin Bank will increase interest rates on major credit loans, mortgage loans, and jeonse loans by 0.06 to 0.53 percentage points starting July 31.
Specifically, the interest rate for the non-face-to-face product 'KB Star Apartment Mortgage Loan (for purchase funds, based on the new balance 6-month COFIX)' will rise by 0.53 percentage points. In contrast, the interest rate for the face-to-face product 'KB Mortgage Loan (variable)' will be adjusted upward by 0.06 percentage points.
For jeonse loans, the interest rates for representative products such as KB Jeonse Loan, KB Jeonse Guarantee Loan, and KB Plus Jeonse Loan will increase by 0.14 to 0.25 percentage points. The rates for non-face-to-face jeonse loan products will rise by 0.26 to 0.49 percentage points.
Interest rates for major credit loan products, including KB Credit Loan, KB Salary Transfer Credit Loan, and KB Star Credit Loan, will increase by 0.1 to 0.5 percentage points. However, the rates for specific loans aimed at vulnerable groups, such as KB Business Support Credit Loan, KB New Hope Seed II, KB Mid-Rate Loan, and KB Sunshine Loan, will not be adjusted.
A Kookmin Bank official stated, "We adjusted the interest rates of major products to maintain an appropriate portfolio of household loans. We have aligned the rates of non-face-to-face products with those of face-to-face products to mitigate concerns about concentration, while minimizing the rate increases for face-to-face products."
* This article has been translated by AI.
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