The most notable financial platform in the market recently is Toss, a company that grows at an alarming rate with the active support of the MZ generation (millennial + Z generation).Toss Bank is Korea’s third Internet bank created by Toss operator Viva Republica.There is no bank app, and it is characterized by its service within the Toss app of Ginot.
parking account status
As interest rates begin to rise in earnest, interest rates on “parking accounts” are also rising.As competition among financial companies intensifies to attract funds, parking accounts that give 2-3% interest per year are emerging one after another.
Parking bank account refers to a deposit that can collect good interest even if you leave your car for a short period of time when you want to park (parking) your car) for a short time.It is known to be perfect for consumers who don’t want to keep their money tied up for a long time but want to get any more interest.
Toss Bank was also launched last October.Today, I will look into Toss Bank’s parking account.
What is a Toss Bank parking account?
Toss Bank
Toss Bank’s parking account was launched at Toss Bank in 2021 and offers an annual interest rate of 2% up to 100 million won without conditions and an annual interest rate of 0.1% for the excess.Unlike regular installment savings, which are difficult to put in and out freely, parking accounts are gaining much popularity by providing interest rates as good as regular installment savings at the same time.
Toss Bank Parking Account
Toss Bank’s bank account is 2% per year, which is slightly lower than its competitors, but it has the advantage of being paid in daily interest.Tap the Daily Interest Receipt icon on the Toss app to receive interest on a daily basis.The maximum interest rate limit is also 100 million won, which is higher than savings bank products.
Interest rates for each section will be applied according to the daily final balance.The basic interest rate may vary depending on market conditions and company circumstances, and if it changes, the variable interest rate will be applied from the date of change.
Less than 100 million won. 2.0% per annum (pre-tax)
Over 100 million won. 0.1% per annum (pre-tax)
The basic interest rate may vary depending on market conditions and company circumstances, and if it changes, the variable interest rate will be applied from the date of change.
Learn how to open a Toss Bank parking account
Toss Parking Account allows you to open a variety of financial products, including cards, deposits, installment savings, loans, and insurance, regardless of time and place, without having to go to the bank.
1. Install Toss app
Toss app installation
Download and run the Toss app according to your smartphone OS.
2. Open Toss Bank Account
Touch the [Overall] icon in the lower right corner of the Toss app, and then touch the [Toss Bank] icon at the top.
Next, you can open a Toss Bank account.
3. Consent to the Terms of Use and Enter Your Personal Information
After agreeing to all the terms and conditions, we will check your personal information.Next, set the [job, transaction purpose, source of funds] required for the loan.
4. Setting passwords and taking ID cards
identification photographing
After entering the password to be used in the account, take a picture of your resident registration card or driver’s license with your smartphone and submit it.
5.Account authentication and establishment completion
If you receive a deposit of 1 won to another bank account registered in the Toss app or to the account you entered yourself, the Toss Bank account will be opened.
6. Unlimited
If you just opened your account, the remittance limit is limited to 2 million won.
Touch the Manage icon in the upper right corner, and touch Account Status-Limit Account-Release to the document and with the limit.You can agree to submit the document and proceed with the lifting of the limit.
Find out the benefits of Toss Bank’s parking account.
Toss Bank basically exempts fees.
FREE FEE
from Toss Bank to another bank now and exempt from automatic transfer fees
All banks, convenience stores, etc. are exempt from ATM deposit/transfer/withdrawal fees.
You can earn interest every day as a parking account opening benefit.You can get interest right away, so you can manage your funds efficiently.
If you put 2% a year and a limit of 100 million won in Toss parking accounts, you can receive about 1.7 million won with interest of about 5,000 won every day.If you put 50 million won in Toss Bank for one year, when you set the monthly compound interest at 2%, the interest after tax is approximately 850,000 won.
If you receive interest every day, it creates a daily compound interest system with principal + interest and interest, making it suitable for putting not only stocks (investment cash) but also down payment and lease payments for a while.
Find out the precautions for Toss Bank Parking Account
Toss Bank is an individual over the age of 17 and has one account per person in principle.If you are a foreigner who currently lives in Japan and holds an alien registration card, you can open an account at Toss Bank.
toss
However, the opening may be restricted if a member with a Toss Bank account has opened an account at another financial institution within the last 20 business days or has a history of opening a fake bank account.
Also, due to the recent fake bank account, we need documents to confirm the purpose of financial transactions.If you create an account for the first time, it may be designated as a financial transaction limit account and there may be restrictions on withdrawal, so it is necessary to prepare necessary documents to prevent any problems with the transfer.
Office worker: Certificate of eligibility for health insurance or certificate of employment
Part-time job: Employer’s Business Registration Certificate and Labor Agreement
Other: Management fees, tax bills, utility bills, etc.