Term deposit or monthly savings · simple or monthly compound · after tax
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Input
Result
Legal basis (Korean law): 소득세법 제129조 · Values as of 2026-10-30
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How it works
Korean interest income is taxed 15.4% (14% national + 1.4% local) at source.
Installment savings (적금): a 5% advertised rate pays interest only on months each deposit is held, so the effective yield on your money is far lower than on a deposit.
Non-residents may get a lower treaty rate — ask your bank.
FAQ
How much interest does ₩10M earn in a Korean bank at 3%?
About ₩300,000 a year before tax and ₩253,800 after the 15.4% tax.