South Korean banks' household loans continued to expand at a faster pace in January, amid soaring housing prices and people opting to invest in stocks.

According to the Bank of Korea(BOK) on Wednesday, as of the end of January, outstanding bank loans to households totaled 996-point-four trillion won, up seven-point-six trillion won from the previous month.

The rise in January exceeded the six-point-seven-trillion-won gain in December last year, and it was also the biggest jump for the month of January since 2004.

Banks' mortgage loans expanded five trillion won on-month in January to 726-point-nine trillion won, the biggest growth for the month, while non-mortgage loans rose two-point-six trillion won.

South Korean households rushed in recent months to borrow money to meet demand for property-related costs and to subscribe to initial public offering shares.