KB Kookmin Bank launches group-purchase time deposit with rates up to 3.3%

KB Kookmin Bank announced Monday it will offer its "2026 First Group-Purchase Time Deposit," a product whose interest rate rises as total sales volume increases.

Customers may deposit between 1 million won ($682) and 20 million won, with a term of either six or 12 months. The product carries a total enrollment cap of 2 trillion won and will be sold on a first-come, first-served basis. Enrollment is available through Aug. 7 at branches, the KB Star Banking app and the customer service center.

The final interest rate will be applied on a tiered basis after the sales period ends, depending on total sales volume and whether event-rate conditions are met. Customers who satisfy both criteria can receive a maximum annual rate of 3.30 percent.

For a 12-month term, the base rate is 2.80 percent per year when total sales reach 100 billion won or less, rising to 2.90 percent when sales exceed that threshold. Customers who do not hold a KB Youth Leap Account — either by never having opened one or by having closed it before enrolling in this product — will receive an additional event rate of 0.40 percentage point per year.

Last year, KB Kookmin Bank offered the group-purchase time deposit in two rounds, each capped at 3 trillion won, for a combined total of 6 trillion won.