<Anchor> This
is a friendly economic time.
Reporter Han Ji-yeon is also here today (the 9th).
The Bank of Korea further raised the base rate last month, but how did the deposit rate rise?
<Reporter>
Yes, deposit interest rates have risen by up to 0.4%, so there are quite a few deposits in the 2% range.
There is also a product that says you can receive up to 2.5%.
Savings banks have even higher rates of up to 2.72%.
In addition, as the volatility of the financial market increases, there is also a phenomenon that market funds are flocking to deposits. Based on the four major banks, new term deposits with less than 6 months in the last month received about 2.3 trillion won more than in July of last year, before the base interest rate was raised. .
Last month, the balance of time deposits at the five major banks increased by nearly 12 trillion won.
There are rumors that the Bank of Korea will raise the base rate at least two more times in the future.
In this case, the current average deposit rate of 1% is highly likely to rise further.
There is also a forecast that products in the 3% range will come out soon.
When depositing right away, it is better not to hold the period too long.
Although the stock market and coins have recovered to some extent since the Lunar New Year, factors of global economic uncertainty such as the US base rate hike and the Ukraine crisis still exist.
<Anchor>
However, the interest rate for deposits is different for each bank.
Is there such a place where I can see some comparisons all at once?
<Reporter>
You can compare at once by entering the 'Financial Products at a Glance' site operated by the Financial Supervisory Service without having to search for one bank or another.
Go to term deposit or savings account and select the desired conditions such as savings amount, scheduled period, and financial area on the inquiry screen, and related financial products will appear all the time.
Information provided by financial companies is regularly provided and updated on the 20th of every month, but real-time information may not be accurate, so you should check the bank website or contact the bank directly.
<Anchor>
Even though the interest rate on deposits is rising, isn't the interest rate on loans still rising?
<Reporter>
Right now, the highest interest rate on a home equity loan is close to 6%.
As the base rate rose and lending regulations became stronger, banks raised their lending rates wildly, but on the other hand, they were stingy in raising the deposit rate.
The gap between the lending rate and the deposit rate reached the highest level in 2 years and 4 months, and it has grown to 2.21 percentage points, so banks must have made a lot of money.
In fact, last year, the net income of the four major banks reached an all-time high of 14 trillion won, but only now are banks raising their deposit rates one after another because of criticism that they are taking profit through interest trading.
In the midst of this, banks are arguing that excessive government regulation has distorted the market, but experts say that if it is difficult to lower the lending rate, banks can actively raise the deposit rate and close the loan-to-deposit interest rate gap.
Politicians are also making a move, and a bill has been proposed that makes it mandatory to disclose the difference between deposit and loan interest rates and allows the financial authorities to take improvement measures.
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Personally, when looking at the loan interest rate, isn't there an additional interest rate that banks generally set and charge consumers?
I don't even know what the standard is, so I'm really curious.
They say it's a trade secret, but I wonder if there is a way to make it public or transparent.
Lastly, what are some things to keep in mind when making a deposit?
<Reporter>
Products advertised with high interest rates are highly likely to be bait products.
Let me give you a few examples.
It is an advertisement for savings bank savings accounts on the Internet that pays 7% per year. They say that only 700 people sign up on a first-come, first-served basis, and incite competition and anxiety. It's twenty-seven thousand won.
If you look closely at savings products with a maximum interest rate of 10% at large banks, preferential interest is applied only for the first transaction, and the amount that can be deposited per month is limited to less than 100,000 won, so the interest rate is higher compared to the “high interest rate” product. It comes out to five hundred and fifty thousand won.
When I looked at other products, there were a lot of people asking for this and that, saying that they would give me a preferential interest rate.
You had to meet conditions such as your first savings account, your first salary, your first credit card, or you were asked about your card usage performance.
Therefore, we recommend that you do not be fooled by the high interest rates and consider carefully before signing up.