Deposit Interest Calculator
Enter your deposit amount, interest rate and term to calculate the interest at maturity, using simple interest.
How to use the Deposit Interest Calculator
- Enter the deposit amount. The field counts in units of 10,000, so the default 1000 means 10,000,000.
- Fill in Annual rate (%) and the length of the deposit in Term (months).
- Press Calculate for the after-tax interest and the maturity total.
The amount is counted in units of 10,000
Whatever you type into Deposit amount is multiplied by 10,000, the way Korean deposit products are quoted, so the default 1000 stands for 10,000,000. The figures under the button are already in full units.
Simple interest, then 15.4 percent off the interest
Interest is worked out once, as principal times rate times months divided by twelve, so nothing is reinvested and 18 months counts as 1.5 years. The result then keeps 84.6 percent of that interest; the principal is not taxed.
| Annual rate | Interest | After tax |
|---|---|---|
| 2.0% | 200,000 | 169,200 |
| 3.0% | 300,000 | 253,800 |
| 4.0% | 400,000 | 338,400 |
On a deposit of 10,000,000 for 12 months.
Frequently asked questions
How much tax is taken from interest?
15.4 percent, and this page always applies it. The interest shown is what is left after Korean withholding; divide it by 0.846 for the gross figure.
What about compound products?
This calculator uses simple interest. Use the compound interest calculator for products that reinvest earnings.
What does the maturity figure include?
Your principal plus the after-tax interest. Nothing comes off the principal, so maturity is always above what you paid in.
Can I turn the tax off?
No. The 15.4 percent is applied to every result and there is no tax-exempt option, so a genuinely tax-free account pays more than the figure shown.