Life in Korea

Korean Installment Time Deposit Interest Computation

Several people have asked me why the amount they got wasn't equal to the percentage promised by the bank. Let’s take Kookmin Bank’s 6.5% interest rate for example. I applied for a fixed time deposit account (국민행복적금) with the maximum monthly deposit of 500,000 KRW automatically transferred from my regular KB account. Now why is the… Continue reading Korean Installment Time Deposit Interest Computation

Life in Korea

Kookmin Bank’s Happy Nori Check Card

Happy Nori Check Card (해피노리체크카드) from Kookmin Bank (국민은행) is one of the most popular check cards among young adults in Korea. Well, aside from its beautiful design, it also offers a lot of discount benefits. Actually, it is an upgraded version – a combination of Nori check card and Happy Point Card. It has the discount… Continue reading Kookmin Bank’s Happy Nori Check Card

Life in Korea

Shinhan’s Tax Free Installment Time Deposit Savings Account for Foreign Wives

Shinhan Bank (신한은행) is offering an installment time deposit savings account with a total of 6% interest rate to marriage immigrants (foreign wives) and other qualified Korean citizens. You can apply for a fixed or free savings account. With fixed savings account, you have to deposit a fixed amount every month. With free savings account, you can deposit any… Continue reading Shinhan’s Tax Free Installment Time Deposit Savings Account for Foreign Wives