Business · Markets · 16 hrs ago
South Korean Banks Draw Deposits With High-Rate Savings Offers
South Korean banks are competing for savers as stock-market volatility pushes some people toward more predictable returns.
NH Nonghyup Bank sold out of 7,000 billion won in special-deal deposits across three sales, while two Shinhan Bank offers brought in 8,400 billion won.
Some fixed-term deposits offer rates near 4%, with options for shorter terms and different customer groups.
Banks and savings banks are also offering higher-rate savings plans and accounts for cash that customers may need to access quickly.
Many headline rates depend on meeting conditions, such as using a bank card, receiving a salary or qualifying for a limited balance.
Some products also have capped deposits, while returns on index-linked deposits can vary and early withdrawal from insurance may mean getting back less than was paid in.
Customers are advised to check the terms and match products to when they need the money before signing up.
South Korean banks are competing for deposits with high-rate savings products as stock-market volatility drives interest in steadier returns.
NH Nonghyup Bank said three special-deposit offerings this year had sold out their combined 7,000 billion won limits early.
Shinhan Bank sold 8,400 billion won across two fixed-term deposit products launched last month.
Banks and savings banks are offering fixed-term deposits, flexible-access accounts and savings plans with advertised rates of up to 13%.
The highest advertised rates can depend on conditions, limited balances or other restrictions, the article cautioned.
- Who
- South Korean commercial banks and savings banks are offering high-rate savings products.
- What
- They are seeking deposits with products including fixed-term deposits, parking accounts and savings plans.
- When
- The article was published on November 8, 2026, and describes offers and sales in recent months.
- Where
- South Korea.
- Why
- Stock-market volatility has increased interest in products offering stable interest income.
This story does not have two clearly opposing sides.
NH Nonghyup Bank’s NH Jeonnam-Gwangju Integrated Special City Companion Deposit sold out its 1,000 billion won limit in eight days.
Nonghyup sold out an additional 1,000 billion won allocation of the deposit in three days.
Shinhan Bank launched Super SOL Welcome Fixed Deposit.
Nonghyup launched the first 5,000 billion won allocation of its NH All One Bank 10th Anniversary Deposit, which sold out in a week.
Nonghyup began a second sale of the NH All One Bank deposit, with a 5,000 billion won allocation.
- Nonghyup special deposits
- Three offerings sold out their combined 7,000 billion won limits early
- Nonghyup anniversary deposit
- Maximum annual rate of 3.9%
- Shinhan deposits
- 8,400 billion won sold across two products
- Shinhan Welcome deposit
- Maximum annual rate of 4.0%
- Woori lucky savings plan
- Advertised maximum annual rate of 13.0%