Korean Job Discussion Forums

[sligo]

What rates are available for lump sum and monthly deposit savings accounts? It's a pain in the arse trapsing round all the banks. What rates are you getting?

[bucheon bum]

I assume you meant to post this in the Korea Geneal Discussion forum?

[wishfullthinkng]

there are dedicated savings banks that will give you 3-6% but those banks tend to go out of business often leaving you with nothing.

all of the major banks have time-installment savings accounts with varying rates based on a multitude of factors such as length of time, how many deposits you make, etc.

at shinhan my 3 year installment is at 3.6%. not great but not bad.

[Deja]

Are you talking USD, or KRW?

[sligo]

I am saving in Korea and in Korean Won. As i want to know the rates available today (i.e. the current rate) it seems prudent to label this as a current event. This way noone will wade in talking about the 4.5% rate they received 4 years ago....

[wooden nickels]

In one of the major banks I'm getting around 3.0%. It Fluctuates from deposit to deposit. 1 year deposits. Recent 3.1%, 2.9%, 3.0%, 3.1%, 2.7%, 2.8%, 2.6%, 2.7%

[sligo]

I'm not very au fait with financial matters. But, with the ever decreasing savings rates, I would be iunterested in looking at other forms of investment. Does anybody know of, or partake in any finacial plans that bring greater rewards than 3%?

[wooden nickels]

Loan Shark. Make your own rates. 10% is the average rate.

[Deja]

[Fox]