Time Deposit Calculator — South Korea
Calculate your fixed-deposit maturity value and interest in KRW at current rates. No signup, no account needed.
Enter a deposit amount, a rate between 0% and 100%, and a term above zero (up to 50 years) to see results.
Fixed deposit rates in South Korea (2026)
1-yr FD rates ≈ 2.8–3.3%. Internet banks (Kakao, Toss, K Bank) often beat traditional banks. Savings banks (저축은행) pay higher but watch KDIC limit.
At around 3.4%, the fixed-deposit rate in South Korea is around the typical range for developed-market deposits.
Reference figures, ~2026. FD interest is often taxable and rates vary by bank and tenure - verify the current rate before depositing.
Worked example
For every ₩25,000,000 deposited at 3.40% for 5 years (quarterly compounding):
- Maturity value: ₩29,611,340
- Interest earned: ₩4,611,340
Scale to your deposit amount. Longer tenures and higher rates grow the maturity value; compare banks before locking in.
How to get the best fixed-deposit return in South Korea
- Compare several banks - smaller and digital banks often pay more than the big high-street names.
- Ladder your deposits across different tenures so some matures regularly and you can reinvest at new rates.
- Check how often interest compounds; more frequent compounding grows the maturity value.
- Factor in tax on the interest, and compare against short-term government bills or bonds.
Time-deposit (jeonggi-yegeum) rates in South Korea (2026)
A Korean jeonggi-yegeum (정기예금) is a fixed-term time deposit. After the Bank of Korea resumed rate hikes in 2026, banks lifted term-deposit rates: KB Kookmin pays 3.40% on a 1-year deposit (14 Sep 2026), and the top 1-year yield across major banks reached about 3.45% (10 Sep 2026), with Hana, Woori and NH Nonghyup all raising rates too. Second-tier savings banks (저축은행) pay up to around 4% for savers comfortable with the extra risk.
This calculator defaults to 3.4% (a major-bank 1-year rate); savings-bank rates run higher but carry more institution risk.
The 15.4% tax most calculators forget
Interest on a Korean deposit is taxed at 15.4% (14% national + 1.4% local), withheld at source. Showing only the gross interest overstates your real return — see both below.
₩10,000,000 at 3.4% for 12 months: gross interest = ₩340,000; after the 15.4% tax = ₩287,640 net (an effective ~2.88% after-tax return).
Frequently Asked Questions
How is FD maturity calculated in South Korea?
Maturity = P × (1 + r/4)^(4n) for quarterly compounding, where P is the deposit, r the annual rate and n the years. fin·calc uses this standard method.
What is the current FD rate in South Korea?
As a 2026 reference, fixed-deposit rates are around 3.4% per year, varying by bank and tenure. 1-yr FD rates ≈ 2.8–3.3%. Internet banks (Kakao, Toss, K Bank) often beat traditional banks. Savings banks (저축은행) pay higher but watch KDIC limit.
Is FD interest taxable in South Korea?
In most countries FD interest is taxable as income; some offer tax-advantaged or senior-citizen options. Check your local rules - the calculator shows the pre-tax maturity value.
Is a fixed deposit safe in South Korea?
Fixed deposits carry no market risk. In South Korea, bank deposits are typically protected by a national deposit-insurance scheme up to a set per-depositor limit. Confirm the current cap and which banks qualify before you deposit. They trade higher safety for lower long-term returns than equities.
Should I choose a fixed deposit or invest instead in South Korea?
A fixed deposit gives a guaranteed return and suits money you cannot afford to risk. Investing targets higher long-term growth but can fall in value. Many people keep an FD for safety and invest separately for growth.
Bank deposit vs. savings-bank deposit in South Korea — which is better?
Major banks pay around 3.4%, while second-tier savings banks pay up to ~4% at somewhat higher institutional risk — check deposit-protection limits before choosing a smaller institution.
How is my interest taxed?
Deposit interest is taxed at 15.4% (14% national + 1.4% local), withheld automatically at source — always compare the net, after-tax figure, not just the headline rate.
Is my deposit protected in South Korea?
The Korea Deposit Insurance Corporation (KDIC) covers deposits up to ₩50 million per person, per institution, as the general rule — confirm current limits before depositing a larger sum.
Fixed deposit vs. installment savings (jeokgeum) — what's the difference?
A fixed deposit is a lump sum locked in for a term; jeokgeum is a monthly installment savings product. Both are insured the same way, but they suit different saving patterns.
Can I break a Korean FD early?
Yes, but the early-termination rate is much lower than the contracted rate — confirm the penalty schedule with your bank before you commit.
Why did Korean deposit rates rise in 2026?
The Bank of Korea resumed policy rate hikes during 2026, and banks passed the increase through to term-deposit pricing.
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Sources
Deposit rates are compiled from each country's central-bank publications and the typical offerings of its major banks, reviewed for 2026 and subject to change — always confirm the current rate with your bank before depositing. See our methodology and editorial policy for how we source and update this data.
Additional sources for this page
KB Kookmin 3.40% 1-year rate (14 Sep 2026) and the ≈3.45% top 1-year yield (10 Sep 2026): Seoul Economic Daily. 15.4% interest tax: PwC Korea. Deposit protection: Korea Deposit Insurance Corporation (KDIC).