[Edaily Reporter Kim Se-yeon ] #Kbank’s new fixed-term deposit product, which allows customers to choose when they receive interest, has surpassed 1.1 trillion won in new deposits within just one month. With this product, customers can choose to receive interest upfront upon opening the account or at maturity, and they can also make additional deposits or partial withdrawals after opening the account. Kbank has also raised short-term deposit interest rates by 0.1 percentage points.

Kbank announced on the 6th that new deposits for its “Customizable Interest Fixed-Term Deposit,” launched on September 29, had surpassed 1.1 trillion won as of the end of October.
Unlike typical fixed-term deposits, this product allows customers to choose whether to receive interest immediately upon opening the account or at maturity. If interest is received in advance, the amount can be used for living expenses or other purposes. However, even if interest is received immediately upon opening the account, the principal must be maintained until maturity to receive the full agreed-upon interest rate. The early withdrawal interest rate applies to any amounts withdrawn partially.
Additional deposits and partial withdrawals are each limited to two times. Additional deposits can be made up to the day before maturity, starting from a minimum of 1 million won and up to twice the initial deposit amount. Interest on additional deposits is paid either immediately or at maturity, depending on the method selected at the time of initial enrollment.
Partial withdrawals are also permitted until the day before maturity. Customers who receive interest at maturity may withdraw any amount excluding the minimum deposit of 1 million won. Customers who have received interest in advance may withdraw the remaining balance after deducting the greater of the total interest already paid or the minimum deposit.
When opting to receive interest in advance, customers can choose between pre-tax and post-tax payment methods. If pre-tax interest is received first, taxes are deducted from the principal at maturity; if post-tax interest is received, the principal is returned in full at maturity. The final amount received is the same under both methods.
Kbank also raised interest rates by 0.1 percentage points effective today. Accordingly, the interest rate for the 1-month term has increased from 3.00% per annum to 3.10%, the 3-month term from 3.45% per annum to 3.55%, and the 6-month term from 3.55% per annum to 3.65%. The interest rate for the 12-month term is 3.81% per annum.
The minimum deposit amount is 1 million won, and there is no maximum deposit limit. The bank also offers an “interest rate guarantee service,” which applies the increased rate if interest rates rise within 14 days of the deposit date.
A Kbank official stated, “It appears that the positive response stems from our reflection of customer demand for both stable interest rates and flexible fund management,” adding, “We will continue to introduce products that enhance customer choice and convenience.”