In the first half of 2021, time deposit interest rate comparison in 1 financial sector, time deposit interest rate comparison in 2 financial sectors, Top 5
Following the last time, today, we will compare the interest rates for fixed deposits in the first half of 2021.
There are many banks, but we will only show you the top 5 banks in the end.
The bank with a high interest rate in 2021 can be checked with the link right below, so please refer to it.
2021/01/19 – [Easy-to-understand economic stories] – 2021 installment savings with high interest rates Bank 1 financial sector 2 financial sector summary
Term deposits have the advantage of being able to receive flexible deposit interest compared to installment savings.
Let’s start comparing interest rates for fixed deposits in the first half of 2021.
If you click the tag at the bottom, you can see more economics, stocks, and economic common sense stories.
1 Top 5 financial sector 1 year time deposit interest rate comparison
Deposit interest rates tend to rise as the deposit period lengthens. Conversely, in the case of a one-year term deposit, the interest rate is lower.
1 In the comparison of interest rates for 1-year time deposits in the financial sector, the average interest rate of about 20 banks is 1.06%, which is slightly lower than that of installment savings.
Also, please note that the interest rate shown is the interest rate that appears when the preferential conditions are met.
Bank name 1-year time deposit interest rate (%)
Busan Bank 1.50
K Bank 1.50
Daegu Bank 1.31
Hana Bank 1.30
Suhyup Bank 1.25
1 Top 5 financial sector 3-year time deposit interest rate comparison
As mentioned in the regular installment savings interest rate comparison, in the case of a 3-year maturity, it has good conditions for collecting school loans for children.
In addition, there is an advantage that there is no or less risk compared to stock investment or installment savings.
Since 3 years is a long-term deposit, the average interest rate of banks in the time deposit interest rate comparison is 1.13%, which is slightly higher than the 1-year maturity.
Bank name 3-year time deposit interest rate (%)
K Bank 1.60
Kwangju Bank 1.38
Jeonbuk Bank 1.35
Daegu Bank 1.35
Shinhan Bank 1.20
In the case of a long-term deposit with a maturity of 3 years, as mentioned earlier, the interest rate is higher than that of a term deposit with a maturity of 1 year.
Due to the nature of schools in Korea, middle school and high school are attended for three years, so it would be good to put in long-term savings according to your children’s semester.
2Top 5 financial sector 1-year time deposit interest rate comparison
In the last post, I explained the advantages of the 2nd financial sector. It was said that there is no need to worry if you put in an installment savings with an amount less than 50 million won as depositors are protected up to 50 million won while comparing the interest rate of the installment savings right away.
2021/01/19 – [Easy-to-understand economic stories] – 2021 installment savings with high interest rates Bank 1 financial sector 2 financial sector summary
The same goes for term deposits. When it comes to the 2nd financial sector, it may feel like something is far away and there are many risks, but when you open the lid, it is a system that protects depositors and if you deposit a small amount in a short period of time, you can say that you are one step closer to more efficient investment.
Name of bank 2nd financial sector 1-year time deposit interest rate (%)
Welcome Savings Bank 2.10
SBI Savings Bank 2.00
Samho Savings Bank 2.00
Korea Savings Bank 2.00
Pepper savings, Eugene savings, Sangsangin savings 1.90
The average interest rate for one-year time deposits in the 2nd financial sector is 1.85%, exceeding the 1.06% of the 1st financial sector.
Again, since the 2nd financial sector is also protected up to 50 million won by the Korea Deposit Insurance Corporation, if you say you save less than that, I can say that there is no risk itself.
If the accessibility of the 1st financial sector and 2nd financial sector is not very different, we recommend the 2nd financial sector term deposit.
2Top 5 financial sector 3-year time deposit interest rate comparison
Comparing the average interest rates for 3-year (long-term deposit) time deposits in the 1st and 2nd financial sectors, the 1st financial sector is 1.13% and the 2nd financial sector is 1.91%.
This is the result that the average of the 2nd financial sector is 0.78% higher than that of the 1st financial sector.
Name of bank 2nd financial sector 3-year time deposit interest rate (%)
Korea Savings Bank 2.20
Welcome Savings Bank 2.10
SBI Savings, Samho Savings, Pepper Savings, OSB Savings 2.00
Sangsangin Savings Bank 1.90
Shinhan Savings Bank 1.80
For example, if you save 500,000 won in a fixed deposit for 3 years, the principal is 18,000,000 won, which is 18,516,483 including interest.
If you compare it to the 1 financial sector, I think it’s a good investment technique.
Let’s finish this post.
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