These days, people often say that if you keep money in your bank account, you can’t keep up with inflation, so you have to roll it around and invest.Of course, it is important to constantly study what methods to find to increase your hard-earning income, but it is also true that you are hesitant to enter the world of investment without solid knowledge.
How to call installment savings, savings and stocks are also good, but the interest in parking accounts, which are known to be able to receive monthly interest even if they leave it for one day in uncertain times, is increasing rapidly day by day.
parking account overview
It means a occasional deposit that allows you to receive interest every month even if you leave it for just one day or for a short time, just like parking at a mart.It is a new product that can be opened in the 1st and 2nd financial sectors, and it is characterized by interest being settled and paid on a daily basis.In other words, it can be said that it is a bankbook that meets the wishes of those who do not want to keep their cash assets tied to one bank account for a long time, but want to receive even a little more interest paid by the bank.
For example, assuming that you keep it in a 2% parking account for a year, you will receive 20,000 won, or 2% of 1 million won.If 20,000 won is divided into one day, you will receive 54.95 won in interest, and an average of 1,666 won in a month.
Advantages or Disadvantages
There is a higher degree of freedom because the subscription deadline is not set like regular deposits.Since money is not tied up, you can take it out and use it whenever you need it, but freedom may be a disadvantage.It will be a particularly vulnerable point if the purpose of taking it out leads to expenditure, not to other investment purposes.
Why am I interested in parking accounts?
In the era of ultra-low interest rates, inflation is expected to be around 2.5%.In other words, if the interest received from your assets does not receive an interest rate of more than 2.5%, the assets held in the bank will actually decrease.
Therefore, many people subscribe to installment savings and regular deposit products to predict high interest rates, but these products have fatal disadvantages that money is tied up, and if terminated in the middle, they can lose money, so they use parking accounts that are free to deposit and withdraw.
Parking bankbook recommendation
Toss Bank 2.3% as of 2022
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Toss Bank provides a 2.3% interest rate without any conditions.By 2021, it was expected to fall further from 2.0%, but instead added 0.3%.There is no explanation of parking bankbook anywhere, but I don’t think it will matter if it is called the same name because it uses the same functions implemented by commercial banks.Anyone who has a real-name account over the age of 17 in Korea can open it, and there is no limit on the amount of savings.
Initially, there was a sentiment among people that they were anxious to entrust a large amount of money because it was an Internet bank, but all deposits entrusted were taken to be protected by the Korea Deposit Insurance Corporation.The maximum amount of protection is set at 50 million won per person.
K-Bank Plus Box
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This is K-Bank’s plus box that pays 2.70% pre-tax interest rate.The maximum limit is 300 million won, and interest is paid on the fourth Saturday of every month.Thanks to the merit of being a bank product in the primary financial sector and receiving 0.4% more interest than Toss, I also moved my deposits here.
It is a plus box that can be opened immediately if you have an existing deposit and withdrawal account without a complicated process or submission of documents, so it is a parking account that can be recommended without hesitation to those who want to receive high interest for a short period of time.
Kakao Bank Safe Box 2.60%
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This is a safe box released earlier than K-Bank.One can be issued for each Kakao Bank account, and the storage limit is up to 100 million won, and you can receive an annual interest rate of 2.60% if you leave it for a day.
OK Savings Bank
There are many people who are not well aware of the savings bank situation in the past, but it is one of the banks that have been used for a long time.The interest rate on non-face-to-face deposits is 3.3%.Up to 100 million won will be applied, and 1.0% interest will be applied to excesses beyond this.
3.3 percent is not bad, but since it is a savings bank, I think it would be better to set it at around 50 million won, including interest and principal, rather than putting a lot of money in.
Welcome Savings Bank
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In the case of non-face-to-face ordinary deposits, interest rates are applied differently depending on the savings section from 0.5% to 1.3%.However, Welcome Plus products are high-interest products that can earn 3.60% interest.However, not everyone is subject to the interest rate, but automatic transfers, check cards and utility bills, and communication fees must be set, and applications must be made according to the conditions.
The summary of interest rates is as follows.
Toss 2.3%.
K-Bank Plus Box 2.70%
Kakao Bank Safe Box 2.6%.
OK Savings Bank 3.3%
Welcome Savings Bank 3.60%
Closing remarks
For those looking for safe investment destinations in the era of ultra-low interest rates, parking accounts are the minimum basic policy without much knowledge.It is said that most people want to receive even a little more interest by linking administrative expenses, telecommunications expenses, and various utility bills.As I said, I think it would be better to deposit money to the extent that it can be protected by the Korea Deposit Insurance Corporation.