🏦 Savings & Deposit Interest Calculator
Check the maturity payout for installment savings (monthly) or a lump-sum deposit
Enter Savings Details
Maturity Payout (pre-tax)
6,113,750 KRW
Principal
6,000,000 KRW
Pre-Tax Interest
113,750 KRW
Amount shown is before interest income tax (15.4%) is deducted.
Interest Formulas
Installment Savings (monthly deposits, simple interest)
Pre-tax interest = monthly deposit × months×(months+1)/2 × (annual rate ÷ 12). Maturity payout = (monthly deposit × months) + pre-tax interest.
Lump-Sum Deposit (monthly compounding)
Maturity amount = deposit × (1 + annual rate ÷ 12)^months.
Example
Depositing 500,000 KRW monthly at 3.5% annual interest for 12 months: principal of 6,000,000 KRW plus about 113,750 KRW in pre-tax interest, for a maturity payout of about 6,113,750 KRW.
Tax Note This calculator shows pre-tax amounts (before the 15.4% interest income tax withholding). Your actual payout will be net of interest income tax.
Frequently Asked Questions
Q. What's the difference between installment savings and a deposit?
A. Installment savings involves depositing a fixed amount each month, while a deposit involves placing a lump sum all at once. At the same interest rate, installment savings earns less total interest than a deposit because each month's contribution is invested for a shorter period.
Q. How much interest income tax is withheld?
A. Typically 14% interest income tax plus 1.4% local income tax, for a total of 15.4% withheld at the source.
Q. Do I get the full contracted rate if I withdraw early?
A. No. Most financial products apply a much lower early-termination rate than the contracted rate if you withdraw early, significantly reducing your interest.