SEOUL, Sept. 29 (Xinhua) -- South Korean banks' deposit rate hit a new record low last month amid the record-low policy rate, central bank data showed Tuesday.
The annualized rate of fresh deposits, held by banks, was 0.81 percent in August, down 0.01 percentage point from the previous month, according to the Bank of Korea (BOK).
It kept a record-breaking trend for the third consecutive month as the BOK cut its target rate by 25 basis points to an all-time low of 0.50 percent in May.
Banks' lending rate declined 0.07 percentage points over the month to 2.63 percent in August.
Lending rate for small companies slipped 0.07 percentage points to 2.80 percent in the month, and the rate to big corporations shrank 0.07 percentage points to 2.48 percent.
Rate for loan to households dropped 0.07 percentage points to 2.55 percent in the same month. Enditem
