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wishfullthinkng
Joined: 05 Mar 2010
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 Posted: Wed May 01, 2013 6:49 pm Post subject: |
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| goreality wrote: |
| Shinhan is offering something like 3% on a one year ongoing deposit saving account. I don't remember the maximum or minimum. They offer up to 1% bonus (total 4%) by meeting certain conditions. Having your company directly deposit your pay in to the account then straight to that gives you .5, the others involve using your bank a bit, but should be about to get 3.7or8 without too much problems. |
yeah i was going to post about this too. i didn't meet all of the requirements but my 3 year time account at shinhan is at 3.3%. not a bad setup. |
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Otherside
Joined: 06 Sep 2007
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| Posted: Wed May 01, 2013 7:19 pm Post subject: |
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I use the Do Dream account from SC for my Korean savings.
The interest is 2.5% (used to be 3.33 :/).
While this isn't the best rate (and there is a bit of fine print), it's really convenient. There are no restrictions on the account, no required term, and one can use the account as a standard transactional account if needs be. As I don't save most my money in Korea, it suits my needs, and it isn't worth being tied to a longer-term deposit in order to eek out a few extra pips of interest. |
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sligo
Joined: 15 Oct 2008
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| Posted: Wed May 01, 2013 7:35 pm Post subject: |
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| thatkidpercy wrote: |
| I was in the post office on Tuesday and saw an advert for one of their fixed-term deposit savings accounts that was offering 4.9% over 2 or 3 years. I think you had to put away a minimum of 1mil a month (so, exactly what you don't want), but it might be worth popping in and seeing what other products they have. |
This sounds like what i was after, i stated no maximum amount, and 2 or 3 years would be fine. I will look into this. thanks for your, and all the other replies, they all helped in some way to help me better understand the state of the savings market. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Wed May 01, 2013 7:56 pm Post subject: |
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| Only 50 million in Korea is insured. That means if there is another IMF crisis you may lose your money but hey it won't be worth anything anyway. |
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thatkidpercy
Joined: 05 Sep 2010
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| Posted: Wed May 01, 2013 8:11 pm Post subject: |
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| sligo wrote: |
This sounds like what i was after, i stated no maximum amount, and 2 or 3 years would be fine. I will look into this. thanks for your, and all the other replies, they all helped in some way to help me better understand the state of the savings market. |
No worries. I must have misread your original post as I thought you were after something with no monthly minimum.
| No_hite_pls wrote: |
Only 50 million in Korea is insured. |
50 million per account is insured. If you have 100mil split evenly between 2 banks then you're covered.
| No_hite_pls wrote: |
That means if there is another IMF crisis ......... it won't be worth anything anyway. |
Yeah, no protection against that unfortunately  |
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jamasian
Joined: 01 May 2011
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| Posted: Mon Jul 29, 2013 10:48 pm Post subject: Long term |
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This was all good info and to keep in line with the theme I hope you don't mind this post.
I wasn't sure if I want to stay here another 6mos or a 3rd year. I am thinking of renewing my savings for another year. The rates are better than U.S. rates anyhow. Is this a good idea though? It's my first savings account so the amount right now is small, but I think I'd rather just continue it here for a while until I'm sure of a new career path in about 2yrs. |
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War Eagle
Joined: 15 Feb 2009
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| Posted: Tue Jul 30, 2013 12:15 am Post subject: |
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| thatkidpercy wrote: |
| I was in the post office on Tuesday and saw an advert for one of their fixed-term deposit savings accounts that was offering 4.9% over 2 or 3 years. I think you had to put away a minimum of 1mil a month (so, exactly what you don't want), but it might be worth popping in and seeing what other products they have. |
The wife and I each have one of these. It's around 4.6% but the maximum amount you can deposit is 10,000,000 for each each year you save and ONLY up to a maximum of 20,000,000. Therefore,we also have 2 accounts at KEB on president Park's new working class savings program. We can put away 1,000,000 each a month into that one (no upper limit) and get, I think, 4.2%. |
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