Chasing a bit more interest with a savings-bank special-rate deposit in Korea, you get uneasy: "what if it goes under?" The short answer: within the deposit-insurance limit, you're safe. And that limit rose sharply in 2025.
Curious about after-tax payouts on higher-rate products? Compare in the savings maturity calculator.
Deposit protection is now ₩100M
From September 1, 2025, Korea's deposit-insurance limit rose from ₩50M to ₩100M (the first change in 24 years). If an institution fails, the KDIC guarantees up to ₩100M per person, per institution, principal plus interest. It applies automatically, regardless of when you opened the account.
- Covers banks, savings banks, insurers, securities firms, and mutual finance (Saemaul Geumgo, Shinhyup, NH) via their own funds — all at ₩100M.
- Retirement pensions (DC/IRP) and pension savings are protected separately at ₩100M, not lumped with regular deposits.
- Post office deposits are fully guaranteed by the state.
What isn't covered
Principal-guaranteed savings qualify. Funds, stocks, variable insurance, subordinated bonds and other performance-based products are not covered. Some CMAs aren't either.
Holding high-rate savings safely
- Up to ₩100M, relax — even a savings-bank special rate is protected if principal + interest stays under ₩100M.
- Split amounts above ₩100M across institutions; couples can hold ₩100M each in their own names.
- Count the interest — the limit is principal + interest, so keep principal a little under ₩100M.
FAQ
Aren't savings banks risky?
Within the ₩100M limit, principal + interest is guaranteed even in failure. Stay under the cap and enjoy the special rate safely.
Multiple accounts at one bank?
Deposits at the same institution are combined up to ₩100M — splitting into several accounts at one company doesn't multiply the protection.
Since 2025, protection is ₩100M. Stay within the cap and even special-rate savings banks are safe; spread anything above across institutions.
This is general information, not financial advice. Confirm coverage, limits and terms with the KDIC and each institution.
