<Anchor> This
is a friendly economic time.
Reporter Han Ji-yeon is here.
Did you go to the bank yesterday (19th)?
<Reporter>
Yes, it was the term deposit expiration day, so I went there for a while.
<Anchor>
By the way, why was it yesterday?
<Reporter>
This is the fifth trading day since the base rate was raised, and the base rate is reflected around that time.
So, I set the maturity date on purpose in line with the rising interest rates, but while re-depositing the deposit, I set the maturity date to the 29th of the next month, 1 month and 10 days later.
You may say that it is too short, but the Monetary Policy Committee will be held on the 24th of next month to adjust the base rate.
There are many predictions that a big step will be made here, but since it is a 0.5% point increase, the re-deposit date is set three trading days later.
Then, "I only have about a month left. If the base rate rises, should I sign up for a savings account?"
You can, but you need to sign up right now.
Now, when I looked up the interest rates on deposits at commercial banks, I found that it was more than 5% a year.
Enlarging an image
What you see on the screen is my bankbook. It's a bit embarrassing, but if I reveal it, I paid more than 3% interest even though I kept my deposit for a little over a month.
Also, when I searched for 6 months, which is the minimum unit that can be set as a term deposit period in 'Financial Products at a Glance', some savings banks gave more than 5%.
<Anchor>
So, now that it is 5 trading days, after the base rate rises, you calculated the time when the base rate is reflected in the receiving rate and the deposit rate.
It may be helpful to remember the 5 trading days.
You've even revealed your personal bankbook.
Did you say that you ate your deposits like this: half won and half dollars?
<Reporter>
Yes, I re-deposited half and half of what I paid for the same amount. Recently, as the won-dollar exchange rate started to catch my breath, I was anxious to see if this would peak, but I just re-deposited in dollars.
The first reason is that the strength of the dollar is unlikely to be broken easily. There are many predictions that the Fed will raise the key interest rate again by a giant step, that is, 0.75 percentage points at the US Federal Reserve FOMC held on November 1-2.
If this happens, it is highly likely that the dollar will continue to strengthen.
Another reason is that they paid more interest on dollar deposits than on won deposits.
<Anchor>
Is there a big difference in interest rates between dollar deposits and won deposits?
<Reporter>
Yes, I was a little surprised as it was quite different than I expected, but I will show you my bankbook one more time.
Enlarging an image
It is a deposit in KRW and a bankbook in dollars that contain the same amount. Comparing them, the interest rate on deposits in dollars is 0.41 percentage points higher even though the period is short.
If you take the period of 1 year, the difference will be even greater.
[Bank employee: (foreign currency) Term deposits are 3.58% per month, and won is lower by 1 month.
(What if the period is one year?) In the case of won, the rate is 4.5% per year, and in foreign currency, the rate is 5.2% per year.
(It's much higher.)]
As a policy, banks give higher dollar deposit rates in order to increase their dollar reserves.
In addition, commercial banks have recently been competitively offering preferential exchange rates, providing up to 90% preferential exchange rates.
It means that you only have to pay 10% of the exchange fee. If the exchange fee is 30 won, you only need to pay 3 won, which is 10%.
It would be a good idea to do your due diligence and consider a dollar deposit.
<Anchor>
3% even if you put it in for just one day.
Do you have a bankbook that gives you more than 3% a year?
<Reporter>
Yes, it's a parking passbook, and the highest interest rate, including the preferential interest rate, was up to 3.8% per annum.
In the past, only internet-only banks offered high interest rates, but now savings banks occupy most of the top of the rankings.
You can put up to 50 million won in the 3.8% a year parking passbook, which has the highest interest rate, and in this way, you can receive 134,000 won after tax every month.
However, the preferential interest rate conditions such as transferring salaries of 1 million won or more through automatic payment must be met.
A product that gives an interest rate of 3.5% per annum without a separate subscription limit and preferential interest rate conditions has also been recently launched, but the total amount is limited to 50 billion won.