NH Nonghyup Bank will cut interest rates on in-person mortgage and credit loans from March 16, moving against a broader rise in South Korean lending rates as market interest rates climb. The bank announced on March 11 that five-year fixed mortgage rates would decline from 5.32%-7.22% to 5.12%-6.77% annually, with the floor reduced by about 0.20 percentage points and the ceiling by about 0.45 points. For one-year credit loans, only the ceiling will fall by about 0.20 points, taking the range from 5.13%-6.33% to 5.13%-6.13%. NongHyup said the cuts aim to ease the burden on genuine borrowers, particularly those facing higher rates because of weaker credit. The move was made after household-loan management created capacity for new lending, while adjustments for non-face-to-face channels have not been announced. Other banks' responses remain uncertain because lending-rate decisions depend on each bank's remaining household-loan capacity.