In today’s recessionary market, it is important to save money wisely.
Usually, installment savings are used when saving or storing money, but in the case of installment savings, you cannot spend money unless you cancel it, and there is a disadvantage that you can only receive some interest if you cancel it in the middle.
The parking account, which has been made up for these shortcomings, has a great advantage of being able to freely use money unlike installment savings, and if you put money in your bank account even for a day.
Today, we will look at parking accounts that many people enjoy using.
meaning of a parking account
The meaning of a parking account means a occasional deposit and withdrawal bankbook that allows you to store money in your bank account as if you were parking your car in a parking lot.The difference between a parking account and a general deposit and withdrawal account and a CMA is that it pays high interest even if you keep the money for just one day.
Using this, those who need to be free to finance can freely use the funds with high interest on a daily basis if they keep a large amount of money in their parking accounts.
Reasons for recommending parking bank account
As I explained earlier, general deposits are free to use funds, but there is little interest.And in the case of installment savings, interest is high, but the disadvantage is that it is impossible to use the funds, and there is a disadvantage in the case of termination in the middle.
On the other hand, parking accounts have the biggest advantage of being able to use money freely, and they can receive interest several times higher than regular deposits.
There is no reason not to use a parking account because money is disappearing if you keep it in a low-interest deposit at a time of high inflation.
As of December 7, 2022, the interest rate on parking accounts by financial company is as follows.Financial firms such as Kakao Bank, Toss Bank, and K-Bank, which are generally well known to us, are paying lower interest compared to savings banks that give high interest.
However, in order to receive all the interest rates guided by savings banks, several conditions must be met, so detailed confirmation is needed.
As market interest rates have continued to rise recently, interest on parking accounts is also on the rise.Recently, financial companies have created products that can earn as much as 4% interest, making headlines for those who do investment and deposits.
Those who do not know the product are receiving relatively low interest.Therefore, I hope you read this article and then sign up for a parking account that pays high interest to benefit more than others.
In the worst case, even if the bank fails, the Depositor Protection Act will be applied, so up to 50 million won per financial company can be guaranteed 100% per person.
Therefore, if you are anxious to put money in places other than the 1st and 2nd financial sectors, please make several bank accounts for each of the above financial companies and keep the money safely.
As interest rates rise these days and the interest burden increases, consumption is inevitably reduced.If you use your parking account well in such a situation that you are not satisfied with a penny, you can earn interest and use that interest in various places.