I thought I was really proud of posting on Saturday.
I also ran a compound interest simulation and thought that it was quite satisfactory product information.
But after I posted, someone told me if it was Sunday, the very next day. 사이다뱅크 파킹통장
Hey Cider Bank’s parking passbook gave me 2.2%, but that’s compounded interest..
uh? I thought, “Do I have to do another calculation?” 이베이스매뉴얼
Now, let’s do another comparison.
This time, let’s compare the interest of a cider parking passbook with a compound interest of 2.2% and a Tossbank parking passbook.
What is the Cider Bank parking passbook?
Maximum interest rate: 2.2%
Savings amount: no limit
Contract period: no limit
Depositor protection: up to 50 million won
As I mentioned earlier, the Cider Bank parking passbook I will introduce this time shows an interest rate of about 0.2% higher than the Toss Bank parking passbook, which provides an annual interest rate of 2% with a maximum interest rate of 2.2%.
Another point of comparison is the amount of 100 million, that is, the amount exceeding the maximum interest rate condition.
In the case of Toss Bank’s parking passbook, an interest rate of 0.1% is provided for exceeding 100 million won, but in the case of Cider Bank, 0.2% is provided.
Therefore, in the case of simply comparing interest rates, it can be seen as a product that provides a higher interest rate than Toss Bank.
In addition, in the case of Cider Bank, the interest rate is a little low, but unlike the parking passbook of the Welcome Savings Bank, which must satisfy other preferential conditions, you can receive the highest interest rate up to 100 million won.
For those who cannot satisfy the preferential conditions due to circumstances, it is considered a product with sufficient merit.
What is the real difference in interest rates?
Now, I have a question here.
How much of a difference is the real interest rate?
The other day, in the case of the Welcome Savings Bank and Toss Bank parking passbooks, the interest rate difference was 1%, but I compared them because of the difference in the interest payment method of monthly compound interest and daily compound interest.
The result was a victory for Welcome Savings Bank.
Welcome Savings Bank Parking Passbook Welcome Employee Love Ordinary Deposit, interest rate 3% I compared the actual interest with Toss Bank
The most popular parking passbook these days is by far the Welcome Savings Bank’s Welcome Savings Bank, Employee Love Common Deposit. Current mouth…
In the case of Cider Bank, interest accrued from the 1st to the last day of each month is paid on the 1st of the following month, so it can be thought of as monthly compounding interest.
If you look at the product description, it can be said that it is actually a daily compound interest product because the accumulated amount is paid on the 1st of the following month based on the final balance every day.
Now, let’s run the actual simulation to see how much difference it will make.
As before, the principal is 10 million won, so let’s compare 1 year, 3 years and 5 years.
Bank
interest method
principal
1 year
3 years
5 years
Toss Bank
2% daily compound interest
10 million won
10,202,007 won
10,618,348 won
11,051,678 won
cider bank
2.2% daily compound interest
10 million won
10,222,431 won
10,682,245 won
11,162,743 won
Of course, you can see that the cider bank is applied slightly more advantageously.
Is it safe?
First of all, in the case of Cider Bank, as a product of SBI Savings Bank, you can receive depositor protection up to 50 million won.
In the case of Cider Bank’s parking passbook, you can use up to 100 million won, but if you use it appropriately, you can save money without difficulty.
As a side note, in the case of SBI Savings Bank, it seems that there is no problem in soundness as it was the bank that ranked first in the overall ranking of savings banks in 2021.
How to find out the ranking of savings banks, what are the standards for stability of savings banks?
With interest rates rising, people are increasingly interested in savings accounts. The situation is like this…
organize
Now, this time too, among the savings bank parking accounts that are hotly competing these days, we looked at how far the conditions of the cider bank parking passbook differ from that of Toss Bank.
What kind of neighborhood book is Toss Bank? As you can see, I am a person who likes Toss Bank to the extent that I am still using Toss Bank.
> Download product manual <
Attached file deposit and withdrawal bankbook product manual_20220701.pdf file download
Comparing it to the products I use, it can be said that this is what is happening.
I think the best choice is to use a product that you can use and that is advantageous for any financial product.
I hope that today’s content will be helpful to those who are looking for a better parking passbook, and I will finish the content.