Deposit interest rate | South Korea

The Deposit interest average annual rate of South Korea in 2024 was 3.48%. The 2023 rate was  3.84%. This is the first year of decline after a period of growth. The lowest deposit interest rate in South Korea was recorded in 2020, with a value of  1.16%. The highest rate was in 1998, when it achieved 13.29%. The deposit interest rate is the rate paid by banks or other financial institutions to individuals or businesses for keeping money in a deposit account (such as a savings account, fixed-term deposit, or certificate of deposit).