Korean new loan rates rise to 4.57 percent in September
New bank loan rates in South Korea rose 17 basis points to 4.57 percent in September 2026, Bank of Korea data show. New deposit rates increased 24 basis points to 3.45 percent; household borrowing rates reached 4.96 percent.
Households face higher borrowing costs
Bank of Korea (BOK) preliminary statistics cover weighted average interest rates at commercial and specialized banks.
New corporate loan rates rose 19 basis points to 4.49 percent in September.
Large corporations paid 4.37 percent, up 16 basis points, while small and medium-sized enterprises paid 4.63 percent, up 25 basis points.
New household loan rates increased 20 basis points to 4.96 percent.
Across all new loans, the average rose from 4.40 percent in August to 4.57 percent.
New deposit rates increased from 3.21 percent to 3.45 percent.
Within deposits, savings rates rose 25 basis points to 3.39 percent, while rates on marketable instruments increased 16 basis points to 3.69 percent.
Existing balances reprice more slowly
Rates on outstanding deposits rose 7 basis points to 2.27 percent at end-September; outstanding loan rates increased 8 basis points to 4.48 percent.
Corporate loan rates rose 8 basis points to 4.42 percent, with large corporations at 4.34 percent and smaller enterprises at 4.45 percent.
Household loan rates rose 6 basis points to 4.58 percent.
Demand deposits held at 0.55 percent.
Transferable savings deposits paid 0.81 percent, savings deposits 3.13 percent and marketable instruments 3.22 percent.
Different measures, different exposures
New agreement rates measure current borrowing and saving terms, not the cost of all existing balances.
Outstanding rates include revolving loans, demand deposits and transferable savings deposits excluded from new business measures.
September figures remain preliminary and subject to revision.
Source: Interest Rates (Sep 2026)
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