SEOUL, April 30 (Xinhua) -- South Korean banks' lending rate fell for the fourth straight month due to a lower policy rate, central bank data showed Wednesday.
The weighted average rate for new bank loans dipped 0.10 percentage points from a month earlier to an annualized 4.36 percent in March, continuing to slide since December last year, according to the Bank of Korea (BOK).
The BOK cut its benchmark interest rate by a quarter percentage point to 2.75 percent in February, after slashing it by the same percentage point in October and November last year.
The rate for new bank loans to households fell 0.01 percentage point to 4.51 percent in March compared to the previous month.
Mortgage loan rate for households decreased 0.06 percentage points to 4.17 percent, and credit loan rate retreated 0.02 percentage points to 5.48 percent.
The rate for banks' new corporate loans declined 0.11 percentage points over the month to 4.32 percent in March.
The lending rate for big companies diminished 0.09 percentage points to 4.32 percent, while the rate for small firms reduced 0.14 percentage points to 4.31 percent.
The weighted average rate for new bank deposits was down 0.13 percentage points over the month to an annualized 2.84 percent in March. ■
