Interest rates of new deposits, loans in South Korea rise in May

However, the overall average of outstanding loans fell.

The average interest rate of new deposits in South Korea was 3.55% in May, rising 2 basis points (bp) compared to April.

The average interest rate on outstanding amounts of deposits was 2.63% in May, rising by 1bp.

For new loans, the average interest rate was 4.78%, also a 1bp rise.

The average interest rate of outstanding amounts of loans as of end-May was 5.01%, down 4bp from April.