The Bank of Korea reported that the weighted average rate on new deposits at commercial and specialized banks rose 13 basis points in July 2026 to 3.21%, while the rate on new loans fell 4 basis points to 4.27%. Rates on outstanding deposits and loans increased by 8 basis points to 2.15% and by 3 basis points to 4.37%, respectively. Within new lending, the corporate loan rate declined 7 basis points to 4.20%, driven by a 16-basis-point drop for small and medium-sized enterprises to 4.22%. By contrast, the household loan rate increased 14 basis points to 4.64%.
2026-08-26Bank of Korea
Bank of Korea reports higher deposit rates and lower new loan rates in July
The Bank of Korea reported that the average rate on new deposits rose 13 basis points to 3.21% in July 2026, while the rate on new loans fell 4 basis points to 4.27%. Corporate borrowing rates declined, but the household loan rate increased 14 basis points to 4.64%.