Banks are voluntarily lowering loan interest rates amid criticism that they are reaping excessive profits from high interest earnings.

KB Kookmin Bank announced plans to lower interest rates on mortgage loans and lump-sum "jeonse" rental loans by up to zero-point-55 percentage points starting from February 28.

From Tuesday, internet-based Kakao Bank is cutting interest rates on credit and credit line loans by up to zero-point-seven percentage points, while Woori Bank has lowered its real interest rate from Tuesday by increasing the preferential interest rate.

The banks' latest moves are apparent response measures to criticism that they should actively endeavor to make social contributions that can be felt by the public.