South Korea: mutual savings bank mortgage interest rate 2023

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The interest rate for mortgages provided by mutual savings banks in South Korea stood at 7.12 percent in the second quarter of 2023. The interest rate by these mutual savings banks, a type of non-banking financial institution, rose by almost three percentage points from the first quarter of 2022 to the first quarter of 2023.

Mortgage interest rates by mutual savings banks in South Korea from 4th quarter 2020 to 2nd quarter 2023

Characteristic	Interest rate
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Release date

July 2023

More information

Region

South Korea

Survey time period

Q4 2020 to Q2 2023

Special properties

based on new handling amount; mutual savings banks

Supplementary notes

General and special banks are referred to as banking financial institutions whereas mutual savings banks fall under the umbrella of non-bank financial institutions. Much like regular banks, non-bank financial institutions (e.g., mutual savings banks) can perform many tasks such as deposits, installment savings, and loans. Despite some having the word "bank" in their names, these non-bank depository institutions cannot perform certain traditional bank tasks, such as foreign exchange.

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