Today, we are going to give you information about comparing interest rates on term deposits. We also compare savings bank interest rates, so choose a bank with a high interest rate. With interest rates rising these days, many people are looking for a term savings account. Interest rates vary depending on the region, financial region, and planned savings period, so you should carefully check before depositing. In order to compare interest rates for each bank, there is a way to refer to the information on each bank’s application or website, but since this is a very cumbersome task, we will take the time to compare them all at once. In addition, we will inform you of the ranking of high-interest banks found by statistics.
Term Deposit Interest Rate Comparison
Term Deposit Interest Rate Comparison
index
1. Financial Supervisory Service integrated comparative disclosure of financial products
2. Single Interest Term Deposit Ranking
3. Compound Interest Term Deposit Ranking
4. Precautions and Summary
5. Related Videos
1. Financial Supervisory Service integrated comparative disclosure of financial products
There is a website where you can compare financial products at a glance on the website of the Financial Supervisory Service. You can access the website of the integrated comparative disclosure system for financial products below and proceed with the following steps. 정기예금 금리비교
Integrated comparative disclosure system for financial products 좋은뉴스
finlife.fss.or.kr
Financial Product Comparison Term Deposit 1
Financial Product Comparison Term Deposit 2
Financial Product Comparison Term Deposit
First, click the term deposit tab under Get Rich on the first screen of the homepage, and then select the amount of savings, expected savings period, financial region, region, and subscription target to search for financial products.
Financial Product Comparison Term Deposit 3
Financial Product Comparison Term Deposit 4
Financial Product Comparison Term Deposit
The search results are as follows. The current setting is 30 million won, the expected period is 12 months, the financial area is the bank, the area is all, and the subscription target is unlimited. If you click the search button, the interest rates before tax will be sorted in ascending order. The pre-tax interest rate referred to here is the basic interest rate that does not reflect preferential conditions. If you press the up and down triangle buttons in the comparison selection tab above, you can find the product you are in charge of as the items listed above are available in ascending order. If you click the Details button in the Details tab on the right, information related to the relevant financial company appears. You can check financial product inquiries, preferential conditions, subscription target, subscription method, interest rate after maturity, and other considerations.
2. Single Interest Term Deposit Ranking
You may have heard of simple interest and compound interest among the methods of calculating interest. First, select a calculation method as simplex and then search. First, simple interest means that the interest rate agreed upon at a certain period is applied only to the principal when calculating interest. The concept of compound interest will be introduced in the next section.
Simple Term Deposit Ranking
Simple Term Deposit Ranking
Referring to the table above, let’s find out the ranking of short-term deposits.
Small and Medium Business Bank IBK D-DAY passbook (interest rate 2.41%)
Small and Medium Business Bank IBK first meeting passbook (interest rate 2.37%)
Small and Medium Business Bank IBK Neulblue Sky Passbook (interest rate 2.12%)
Suhyup Bank Hey Term Deposit (interest rate 2.10%)
Jeonbuk Bank JB Direct Savings Passbook (Lump-sum payment method) (interest rate 2.10%)
3. Compound Interest Term Deposit Ranking
Here is a ranking of compound interest term deposits. First of all, compound interest is a method of calculating the new principal by adding interest to the principal at regular intervals. The compound interest calculation method is advantageous in the case of the same interest rate, the larger the savings amount, and the longer the period. Compound interest products are advantageous because real payments after maturity increase significantly. Let’s take a look at the ranking of compound interest term deposits in the items below.
Compound interest term deposit ranking
Compound interest term deposit ranking
Kwangju Bank Miz Monthly Interest Term Deposit (interest rate 2.16%)
Kookmin Bank KB Young Youth gift deposit (interest rate 1.45%)
Kookmin Bank KB Golden Life pension preferential deposit (interest rate 1.45%)
Kookmin Bank KB Kookmin’s first Jae-Tech deposit (interest rate 1.40%)
4. Precautions and Summary
The above site provides the most up-to-date information, however, as the terms and conditions of each product of the financial company change from time to time, the disclosure may be delayed, so be sure to contact your financial company before trading. As mentioned earlier, the pre-tax interest rate is the basic interest rate without any preferential conditions, and the after-tax interest rate is the interest rate after deducting 15.4% of withholding tax on interest income (14% of income tax, 1.4% of local income tax).
In addition, it is recommended to set the deposit amount including interest at a financial institution not to exceed the limit of 50 million won, which is the depositor protection amount. Therefore, proper diversification will help reduce risk. Also, for savings bank deposits, which many people are worried about, it is recommended to select a financial company with a BIS ratio of 8.0% or higher.
Today, we have provided information on the comparison of interest rates on term deposits, including simple and compound interest. In this era of rising interest rates, we hope that you choose a bank that is safe and pays the highest possible interest rates. Interest rates change every day, so check it frequently and think carefully before making a decision, so that you can open a time deposit account that suits you best.