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Features |
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Time Deposit offers you a wide selection of deposit periods up to 60 months, and enables you to choose how interest is deposited - interest paid monthly or interest paid on maturity. |
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Eligibility |
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No limitation (Bearer Account Opening Available) |
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Opening Amount |
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Minimum : More than KRW 10,000, No limitation on the Maximum amount. |
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Period |
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1 month up to 60 months (monthly and daily basis) |
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| Interest Rate |
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Tax Benefits for Residents Only |
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For residents to take advantage of the tax benefits, the deposit period should be greater than one year and the period from the date of opening an account to the date of closing should also be more than one year. |
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Tax Benefit Limit |
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The limit depends on the total amount regardless of the trading financial institutions or deposit types. |
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Deposit limit: KRW 40,000,000 per person (KRW 60,000,000 for the disabled and elderly, KRW 15,000,000 for minors) |
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Senior Citizens: 60 or older for males and 55 or older for females |
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Tax Rate |
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10.5% (as of Jan. 1, 2002)
(Income Tax: 10%, Special Tax for Rural Development 0.5%) |
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※ This product is protected by the Depositor Protection Act. |
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E-banking customers may open an account online
if they have opened a Yes Internet Bankbook. |
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