💰Savings / Deposit Maturity Calculator
Calculate maturity for Korean installment savings (적금) and term deposits (예금) under simple or compound interest. Auto-deducts 15.4% interest tax with a tax-free option. Useful for comparing Youth Leap Account, ISA, and regular savings, simulating bank products, and planning lump-sum goals.
How to use
- 1Pick savings or deposit.
- 2Enter monthly contribution (or lump sum), rate, and term.
- 3View net maturity amount.
FAQ
Savings vs. deposit?+
Savings (적금) — contribute a fixed amount monthly. Deposit (예금) — deposit once upfront. Different interest math, so the same rate gives different results.
What is interest income tax?+
Standard 15.4% (14% income tax + 1.4% local tax). Youth Leap Account, ISA, and some others are tax-free.
Simple vs. compound?+
Simple: interest on principal only. Compound: interest on interest too. Korean banks mostly use simple; some special products and many international banks use compound.
Youth Leap Account vs. regular savings?+
Youth Leap (5-year term) is tax-free with government contributions — 2–3× the yield of regular savings. Age 19–34 eligible.
Deposit rates are low — alternatives?+
RP, CMA, and MMF offer similar safety with slightly higher yields. ISAs combine tax-free benefits with broader investments. Match your risk tolerance.
₩300k/month for 5 years?+
At 4% simple, ~₩18.57M (principal ₩18M + net interest ~₩570K). Use the tool for exact numbers.