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With interest rates rising, even products with interest on bank deposits exceeding 4% have appeared.

However, if this happens, the interest rate on the loan may also rise, which may increase the interest burden on those who borrow money from the bank.



Reporter Jeon Yeon-nam covered the story.



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The interest rate on one-year deposit products at a savings bank is 4.15% per annum.



Starting this week, the interest rate has been raised by 0.35 percentage points.



Only this month alone, 14 savings banks have raised interest rates on term deposit products to 4% per annum.



As commercial banks raised the interest rate on deposits to the high 3% per annum and surpassed the interest rates of the second financial sector, savings banks started competing to raise deposit interest rates to prevent customer churn.



That's welcome for those who want to entrust their money.



However, the problem is that the rate of increase in loan interest rates could be greater.



The variable interest rate for mortgage loans is based on the weighted average interest rate of funds raised by banks, that is, the co-fix, because when the interest rates of bank deposits and savings accounts rise, the co-fix also rises.



Already last month, the Cofix recorded 2.96%, a new high in 9 years and 7 months.



[Mr. A/Employee: (Loan interest rate) is almost 3% higher.

My monthly expenses and living expenses are now set, but a few hundred thousand won every month is a little more...

Should I pay it back by subtracting the cost from the stock?

.]



[Seo Ji-yong / Professor of Business Administration, Sangmyung University: I am more concerned about the loan interest rate than the deposit rate.

There is considerable concern that the level of loan interest rates perceived by consumers will be higher.

It is far more advantageous to switch to a fixed rate if possible.]



Last month, it was found that the difference in interest rates on loans at most commercial banks widened wider than the interest on deposits.



In addition, as the Bank of Korea has announced an additional rate hike within the year, the burden of interest on loans is expected to increase further.



(Video coverage: Ji-Hoon Yang, video editing: Moo-Hwan Cho)