The Bank of Korea reported that the weighted average interest rate on new loans from commercial and specialized banks rose 13 basis points from July to 4.40% in August 2026, while the rate on new deposits remained unchanged at 3.21%. New household loan rates increased 12 basis points to 4.76%, and new corporate loan rates rose 10 basis points to 4.30%. For outstanding balances, the average loan rate increased 3 basis points to 4.40% at the end of August, including rates of 4.52% for household loans and 4.34% for corporate loans. The average rate on outstanding deposits rose 5 basis points to 2.20%.
Bank of Korea reports new loan rates rose 13 basis points to 4.40% in August
The Bank of Korea reported that the average rate on new loans rose 13 basis points to 4.40% in August 2026, while the new deposit rate held at 3.21%. Rates on outstanding loans and deposits increased to 4.40% and 2.20%, respectively.