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A large number of people flocked to a bank in Seoul from the morning of today (18th) to raise a savings account that gives 7% interest for only one day.

As interest rates continue to rise, concerns about debt are growing, but there are also people who are wondering how to roll even a small amount of money.



Correspondent Kim Jung-woo reported.



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At 8 in the morning, there was already an hour left before the bank opened, but there were already long lines.



This is because news spread that they would sell savings accounts with an annual interest rate of 7% for just one day.



[Credit union customer: (When did the line start?) 7:00.

It starts at 9am, but if you come later, you won't be able to stand in line and you will have to wait for more than an hour or two.

(In the past) it was less than 1%, but 7% is the highest interest rate in modern terms.] The interest on



savings bank deposits has also doubled on average compared to the beginning of the year, and tomorrow, up to 6% products will come out.



For the first time in 10 years, people who have extra money at high interest rates are experiencing growing concerns.



First of all, if you currently have cash, it is better to leave it in a so-called parking passbook, which you can find at any time at a slightly higher interest rate.



This is because, as the base rate rises once more next month, deposit rates are expected to rise to the low 5% range for commercial banks and the mid-6% range for savings banks.



If you have already signed up for a deposit that is two or three months old, it is better to cancel it.



[Moon-Hyeong Choi / Deputy head of PB center, KB Kookmin Bank: If it is within 1-2 months of subscribing to a term deposit product, it is also possible to change to a term deposit with a high interest rate after cancellation.



] In most cases, they are rarely given, so maintenance may be better.



If it is difficult to cancel, such as subscription savings, you need to find out about a deposit-backed loan.



You can borrow money using your deposit as collateral, and the interest rate is in the low 3% range, so if you reinvest in a savings bank that gives an interest rate of 6% or more, you can earn an additional 2% point or more in interest.



(Video coverage: Lee Sang-hak, video editing: Jo Moo-hwan, VJ: Park Hyun-woo)