The Bank of Korea announced that the new year’s standard interest rate in 2021 will maintain 0% as last year at 0.5%.
If you look at the Bank of Korea standard interest rate data by year excerpted from the Bank of Korea site below, it may fall further in 22, and it seems that it may become negative (-) interest rates in the near future.
In fact, Europe and Japan are already applying negative interest rates, which means that if you leave your money in the bank, you have to pay the cost of depositing your money, rather than paying interest.
Base Rate Trend
In a situation where the standard interest rate is low, I think it is important to leave my money in a bank with a slightly higher interest rate. After I got a job, finding the best interest rate for 5 or 6 years and depositing deposits/deposits was my small happiness, so I compared the interest rates of several banks.
Before recommending banks, let me tell you about a site where you can easily compare interest rates at a glance.
| Financial Supervisory Service Integrated Comparison of Financial Products Financial Products at a Glance (fss.or.kr)
Integrated Comparison and Disclosure System for Financial Products
finlife.fss.or.kr
It is a site managed by the Financial Supervisory Service and shows the interest rates of various banks across the country.
interest rate comparison
However, you can compare interest rates with the site above, but the reason I do not use it is that most banks with high interest rates are savings banks, and these days you can easily open an account even non-face-to-face. I didn’t want to sign up for a deposit/deposit at that bank because I don’t have one.
I have been steadily depositing/savings since I was young, but I think proximity is also important because there were issues that could only be resolved by visiting the branch if there were problems even with non-face-to-face deposit/savings. In the case of non-face-to-face banks such as Kakao Bank or K-Bank, the above has often been a problem.
So, you might be wondering which bank has the highest interest rate. The bank I would like to recommend is ‘Saemaeul Vault’.
I use Woori Bank, Hana Bank, SC First Bank, Welcome Digital Bank, Kakao Bank, Shinhan Bank, Saemaul Geumgo, etc. When comparing interest rates, Saemaul Geumgo has the highest interest rate.
These days, it is possible to open an account right away even without face-to-face, and proximity is excellent because there are several branches nationwide.
The most important reason why I recommend Saemaul Geumgo is that you can compare the interest rates of Saemaul Geumgo branches across the country and open a deposit/savings account at the branch that gives the highest interest rate. Here’s how.
1. Download ‘MG Sangsang Bank’ from Google Play Store or App Store.
Sangsang Bank
2. Sign up as a member through non-face-to-face account opening, and click Mobile Deposit after logging in.
mobile deposit
3. After selecting Deposit or Installment Savings, click View Details→ Register for Product.
I will use term deposit as an example.
deposit
4. On the first screen, ‘My Vault’, which you set up when you signed up, appears. Click ‘Local Vault’ next to it. Here, you can compare interest rates of Saemaul Geumgo in all regions, but in my case, I only compare interest rates in Seoul.
Originally, Saemaul Vault showed the bank with the highest interest rate right away, but since the service was no longer available, I compared the interest rates of all branches every time, but among them, Seoul had the highest interest rate, so now I am only comparing the Seoul area. Since there are so many branches across the country, it is difficult to see all of them every time, and it would be better to compare only the interest rates in Seoul, Gyeonggi, or the desired region.
safe selection
5. Compare interest rates by clicking on several regions. Gangnam, which came out first, was 1.9%, and looking at safes in other regions, you can see that Jongno-gu has the highest rate at 1.95%. (For reference, the interest rate in my area is 1.5%, which is 0.45%p lower than that in Jongno-gu.)
interest rate comparison
For reference, when comparing the regular installment savings Saemaeul Vault interest rates in Seoul, the interest rate in Seongdong-gu was the highest at 2.57% as of 2/7.
installment savings comparison
Considering that the interest rate of commercial banks is less than 1% to 2%, if you want to deposit or installment savings with a slightly higher interest rate, I think the safe and reliable Saemaeul Vault is the best. In addition, since depositors are protected up to 50 million won per safe, I signed up for deposits/deposits in several safes in preparation for an unexpected situation.
If you have a mobile phone without visiting a branch, you can sign up for deposit/installment savings with higher interest than other banks, so if you are interested, it would be nice to try it. For your reference, commercial banks hold special sales events at the end of the year and at the beginning of the year, so please pay attention to such events so that you can work less and make more money.