As the deposit (receipt) interest rate rises along with the increase in loan interest rates, financial consumers are pouring their spare money into regular savings and savings accounts.
According to the financial industry on the 4th, the balance of term deposits at the five major commercial banks (KB, Shinhan, Hana, Woori, and NH Nonghyup) as of the end of last month stood at 760.5 trillion won, compared to the end of August (729.8 trillion won), 30.7 trillion won (4.2 trillion won), according to the financial industry on the 4th. %) increased. The balance of fixed deposits increased by 600 billion won (1.5%) from 38.7 trillion won to 39.3 trillion won. This means that the deposits and savings accounts of the five major banks have grown by more than 31 trillion won in just one month.
On the other hand, as of the end of last month, the balance of demand deposits at the five major banks was 655.1 trillion won, down 4.5 trillion won (-0.7%) from the end of the previous month (659.6 trillion won). A demand deposit is a product that temporarily deposits funds like a payroll bankbook, and has the characteristics of a waiting-for-investment fund. Excluding special sales, the maximum interest rate for deposits and savings accounts at commercial banks has reached the 4% range, so the phenomenon of ‘bank regression’ of commercial funds is expected to become more pronounced.
The increase in household loans by commercial banks is slowing as the asset market, centered on real estate, is in recession. As of the end of last month, the balance of household loans at the five largest banks was 695 trillion won, down 1.4 trillion won (-0.2%) from the end of August (696.4 trillion won). As a result, the household loans of the five major banks have been on a downward trend for the ninth consecutive month since January of this year.
Mortgage loans increased by only 1 trillion won (0.2%) from 507.3 trillion won to 508.3 trillion won in one month, while personal credit loans increased by 2.1 trillion won (-0.6%) from 127.6 trillion won to 125.5 trillion won. ) decreased.
Reporter Kim Joon-young
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Source: 경제 by www.segye.com.
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