{"content_id":"vds7ce0se5","slug":"parking-account-daily-interest-deposit-protection","locale":"en","schema_type":"Article","category":"knowledge_base","category_name":"Knowledge Base","title":"Parking Account Daily Interest and Deposit Protection","summary":"Parking accounts are instant-access deposit accounts that can be used to hold emergency funds for a short time. Learn the difference between daily interest calculations and actual payment dates, the balance limits for interest rates, and deposit protection rules by financial institution.","sponsorship_disclosure":null,"affiliate_disclosure":null,"commerce_disclosure":null,"author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["A parking account is a term for an instant-access deposit account that calculates interest even on balances held briefly.","Even when interest is calculated daily, it may be paid on the product's scheduled payment date.","Compare interest rates based on your balance tier and the conditions for preferential rates you can meet, rather than the highest rate.","From September 1, 2025, general deposits eligible for protection are protected up to 100 million won per person per financial institution, including principal and prescribed interest.","CMA and MMF are financial products whose structures and withdrawal terms you should check."],"content_markdown":"A parking account is a deposit account that lets you deposit and withdraw money as needed while you temporarily hold funds you may need. Interest is calculated according to the product’s terms, even if you leave the money in for just one day. If you plan to keep an emergency fund in one, check the applicable interest rate, balance limit, and interest payment date.\n\nThe interest example is based on KakaoBank’s product information as of September 16, 2026.\n\n## What is a parking account?\n\nA parking account is a general term for a deposit account used to hold short-term funds while allowing deposits and withdrawals as needed. The name comes from the idea of temporarily parking money. Banks and savings banks offer these products.\n\nIt is not a legally distinct type of deposit from an ordinary checking account. KakaoBank Safe Box is also described as an ordinary deposit. Some products provide a separate space for holding money within a linked account.\n\nYou can use one for money whose spending date is hard to predict, such as an emergency fund. You can also hold money there while waiting to invest it. If you will not need the money for a set period, compare the terms of fixed-term deposits as well.\n\n| Category | Parking account | Fixed-term deposit | Installment savings |\n| --- | --- | --- | --- |\n| Main use | Holding money you may need to withdraw | Depositing a lump sum for a set period | Saving money in installments |\n| Access to funds | Withdrawals under the product’s terms | Check early termination terms if you need the money before maturity | Check the interest rate that applies if you terminate early |\n| Interest rate factors to check | Balance tiers and preferential-rate requirements | Deposit term and early termination rate | Payment method and preferential-rate requirements |\n\n## When is daily interest paid?\n\nCalculating interest daily and paying interest every day are different terms. Some products accumulate daily interest and pay it together on a set date. If there is an instant payment feature, you can request payment separately.\n\nKakaoBank Safe Box calculates interest on the final balance each day. Its regular payment date is the day after the fourth Friday of each month. It also offers a way for customers to request payment. This description is based on [KakaoBank’s interest payment information](https://blog.kakaobank.com/posts/saving-daily-interest).\n\n- Balance used for calculation: Check when the balance used to calculate interest is determined.\n- Payment schedule: Distinguish between how often interest is calculated and when it is paid.\n- Compounding terms: Check whether interest you receive is added to the balance used for future interest calculations.\n\nIf you deposit and withdraw money on the same day, you may not earn interest for that day. Take particular care with products that use the final balance. The balance remaining at the time specified for interest calculation is the starting point.\n\n## Example of daily interest calculation\n\nAn annual interest rate is a rate for one year, not a daily rate of return. Daily interest is calculated using the applicable balance and annual interest rate. The amount actually paid varies with taxes and how amounts are rounded to whole won.\n\nThe following example uses a deposit of 10 million won, the basic holding limit for Safe Box. It assumes an interest rate of **1.80% annually**. This was the advertised basic rate before tax on September 16, 2026. It is not a guaranteed rate for accounts opened now.\n\n| Calculation | Formula | Result |\n| --- | --- | --- |\n| Daily interest before tax | 10,000,000 won × 0.018 ÷ 365 days | About 493 won |\n| After-tax equivalent under standard taxation | Daily interest before tax × 0.846 | About 417 won |\n\nThe after-tax equivalent is an estimate using the standard withholding tax rate of 15.4%. It does not account for other tax treatments, such as tax exemptions. The amount actually deposited depends on the tax calculation at the time of payment.\n\nYou can check the standard tax treatment in [KB Kookmin Bank’s deposit calculation information](https://obank.kbstar.com/quics?cc=b061496%3Ab061645\u0026isNew=Y\u0026page=C016613\u0026prcode=DP01001659). If you keep money in the account for several days, use the applicable balance for each day. If the interest rate changes, calculate the periods before and after the change separately.\n\n## How should you compare interest rates and limits?\n\nCompare the interest rate that will actually apply to your balance. You should not assume that the advertised highest rate applies to the entire balance. If you do not meet the preferential-rate requirements, only the basic rate may apply.\n\n| Term to check | What to check | How it affects your decision |\n| --- | --- | --- |\n| Basic rate | Rate applied without additional requirements | Interest earned if you do not meet preferential-rate requirements |\n| Preferential-rate requirements | Requirements such as salary deposits or transaction activity | The rate you can actually maintain |\n| Balance cap for the rate | Balance range eligible for the higher rate | Average return on your entire balance |\n| Calculation by balance tier | Whether a different rate applies only to the portion above the cap | Interest earned when you exceed the cap |\n| Account and holding limits | Amount you can put in the account | How much of a lump sum you can hold |\n| Rate changes | When a changed rate takes effect | Changes to expected interest after opening the account |\n\nThe balance cap for a higher rate may differ from the deposit limit. Some products let you hold money above the rate cap at a lower rate. Do not assume you cannot deposit more solely because of the rate cap.\n\nThe rate on a variable-rate product can change after you open an account. Interest rates by financial sector from February 2023 cannot be used for a current comparison. Just before opening an account, check the effective date in the financial company’s product disclosure.\n\n## How does the 100 million won deposit protection limit apply?\n\nEligible ordinary deposits are protected up to 100 million won per person, per financial company. This limit has applied since September 1, 2025. It covers the combined amount of principal and eligible interest.\n\n\u003e Deposit protection limit of 100 million won (including principal and interest)\n\u003e\n\u003e Financial Services Commission, “A New Era of the 100 Million Won Deposit Protection Limit Begins Today”\n\nYou can confirm the effective date in the [Financial Services Commission announcement](https://www.fsc.go.kr/po010105/85200). The former 50 million won limit should not be used to describe the current rules. Eligible ordinary deposits at the same financial company are combined.\n\n| Where the money is held | How the protection limit for ordinary deposits is calculated |\n| --- | --- |\n| A parking account and a fixed-term deposit at the same bank | The two products are combined |\n| Different branches of the same financial company | Deposits are combined even if the branches differ |\n| Eligible deposits at different financial companies | Calculated separately for each financial company |\n\nIf you hold principal up to the limit, some interest may push the total above it. Check deposits you already have at the same financial company. When splitting money among financial companies, identify which company is the actual party to each contract. The rules for combining deposits are explained in the [Financial Services Commission’s deposit protection Q\u0026A](https://www.korea.kr/news/policyNewsView.do?newsId=148952118).\n\n## Comparing parking accounts with CMA and MMF\n\nA parking account is a deposit, while a typical securities firm CMA uses investment products. CMA stands for Cash Management Account. It is an asset management account that invests its balance in products such as RP or MMF.\n\nMMF stands for Money Market Fund. It is a fund that invests mainly in short-term financial products. Its returns depend on investment performance and vary with the results. An MMF-type CMA uses this fund to invest the account balance.\n\n| Category | Bank or savings bank parking account | Typical securities firm CMA | MMF |\n| --- | --- | --- | --- |\n| Structure | Deposit account with deposits and withdrawals as needed | Invests the account balance in investment products | Fund investing in short-term financial products |\n| Basis for returns | Contracted deposit interest rate | Varies by type, such as RP-type or MMF-type | Fund performance |\n| Loss of principal | Subject to the deposit contract and protection scheme | Possible, depending on the investment product | Possible |\n| Deposit protection | Applies if it is an eligible deposit | Generally not covered | Not covered |\n| Conditions for withdrawing money | Account-specific withdrawal terms | Terms of automatic sale and withdrawal services | Redemption request and payment terms |\n\nThere are exceptions that qualify for deposit protection, such as merchant banking-type CMAs. Do not judge by the name alone; check the protection terms in the product description. The Korea Life Insurance Association’s financial life guidebook explains the merchant banking-type category.\n\nA CMA or MMF does not always offer a higher return than a parking account. In particular, an MMF’s past return is not a contracted interest rate for the future. Compare products over the same period and on the same basis for taxes and costs. You can check the structure and risks in [Samsung Securities’ CMA information](https://english.samsungpop.com/mbw/finance/cma.do?cmd=guide).\n\n## When can you use an emergency fund for payments?\n\nFor an emergency fund, distinguish between the balance you hold and the balance you can actually use for payments. Card payments may not be taken directly from the space where the money earns interest. The ability to withdraw money and the ability to make automatic payments are separate conditions.\n\nFor example, withdrawals from Safe Box go through its linked checking account. You cannot register Safe Box as an account for card payments or automatic transfers. This restriction is stated in [KakaoBank’s frequently asked questions](https://m.kakaobank.com/FaqView/view/8486).\n\nWith an MMF, the time you request redemption may differ from the time you receive the cash. Immediate withdrawals from a CMA may also be handled through a separate service. Korea Investment \u0026 Securities describes a method of withdrawing through a CMA-backed loan, subject to conditions. Details are in the [Korea Investment \u0026 Securities CMA product guide](https://pension.koreainvestment.com/main/mall/opencma/CmaInfo.jsp?cmd=TF02bb010000).\n\nReview where to keep your emergency fund in this order.\n\n1. Check how much you need for upcoming payment dates.\n2. Check which account automatic payments will actually be taken from.\n3. Check how to move money from the holding space to the payment account.\n4. Check transfer limits and available hours.\n5. Compare the interest paid on the remaining funds.\n\n## Common parking account mistakes\n\nA common misunderstanding is treating different terms as if they mean the same thing. Check the interest rate, payment date, and protection limit separately. Before opening an account, keep the following distinctions in mind.\n\n- Do not assume that interest calculated daily is automatically deposited every day.\n- Do not calculate interest on your entire balance using the highest advertised rate.\n- Do not assume that each account at the same financial company has its own protection limit.\n- Do not treat an MMF’s past return as if it were a contracted deposit interest rate.\n- Do not assume that a balance in a holding space is available for automatic payments.","content_html":"\u003cp\u003eA parking account is a deposit account that lets you deposit and withdraw money as needed while you temporarily hold funds you may need. Interest is calculated according to the product’s terms, even if you leave the money in for just one day. If you plan to keep an emergency fund in one, check the applicable interest rate, balance limit, and interest payment date.\u003c/p\u003e\n\u003cp\u003eThe interest example is based on KakaoBank’s product information as of September 16, 2026.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#what-is-a-parking-account\" class=\"anchor\" id=\"what-is-a-parking-account\"\u003e\u003c/a\u003eWhat is a parking account?\u003c/h2\u003e\n\u003cp\u003eA parking account is a general term for a deposit account used to hold short-term funds while allowing deposits and withdrawals as needed. The name comes from the idea of temporarily parking money. Banks and savings banks offer these products.\u003c/p\u003e\n\u003cp\u003eIt is not a legally distinct type of deposit from an ordinary checking account. KakaoBank Safe Box is also described as an ordinary deposit. Some products provide a separate space for holding money within a linked account.\u003c/p\u003e\n\u003cp\u003eYou can use one for money whose spending date is hard to predict, such as an emergency fund. You can also hold money there while waiting to invest it. If you will not need the money for a set period, compare the terms of fixed-term deposits as well.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eParking account\u003c/th\u003e\n\u003cth\u003eFixed-term deposit\u003c/th\u003e\n\u003cth\u003eInstallment savings\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eMain use\u003c/td\u003e\n\u003ctd data-label=\"Parking account\"\u003eHolding money you may need to withdraw\u003c/td\u003e\n\u003ctd data-label=\"Fixed-term deposit\"\u003eDepositing a lump sum for a set period\u003c/td\u003e\n\u003ctd data-label=\"Installment savings\"\u003eSaving money in installments\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eAccess to funds\u003c/td\u003e\n\u003ctd data-label=\"Parking account\"\u003eWithdrawals under the product’s terms\u003c/td\u003e\n\u003ctd data-label=\"Fixed-term deposit\"\u003eCheck early termination terms if you need the money before maturity\u003c/td\u003e\n\u003ctd data-label=\"Installment savings\"\u003eCheck the interest rate that applies if you terminate early\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eInterest rate factors to check\u003c/td\u003e\n\u003ctd data-label=\"Parking account\"\u003eBalance tiers and preferential-rate requirements\u003c/td\u003e\n\u003ctd data-label=\"Fixed-term deposit\"\u003eDeposit term and early termination rate\u003c/td\u003e\n\u003ctd data-label=\"Installment savings\"\u003ePayment method and preferential-rate requirements\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch2\u003e\n\u003ca href=\"#when-is-daily-interest-paid\" class=\"anchor\" id=\"when-is-daily-interest-paid\"\u003e\u003c/a\u003eWhen is daily interest paid?\u003c/h2\u003e\n\u003cp\u003eCalculating interest daily and paying interest every day are different terms. Some products accumulate daily interest and pay it together on a set date. If there is an instant payment feature, you can request payment separately.\u003c/p\u003e\n\u003cp\u003eKakaoBank Safe Box calculates interest on the final balance each day. Its regular payment date is the day after the fourth Friday of each month. It also offers a way for customers to request payment. This description is based on \u003ca href=\"https://blog.kakaobank.com/posts/saving-daily-interest\"\u003eKakaoBank’s interest payment information\u003c/a\u003e.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eBalance used for calculation: Check when the balance used to calculate interest is determined.\u003c/li\u003e\n\u003cli\u003ePayment schedule: Distinguish between how often interest is calculated and when it is paid.\u003c/li\u003e\n\u003cli\u003eCompounding terms: Check whether interest you receive is added to the balance used for future interest calculations.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eIf you deposit and withdraw money on the same day, you may not earn interest for that day. Take particular care with products that use the final balance. The balance remaining at the time specified for interest calculation is the starting point.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#example-of-daily-interest-calculation\" class=\"anchor\" id=\"example-of-daily-interest-calculation\"\u003e\u003c/a\u003eExample of daily interest calculation\u003c/h2\u003e\n\u003cp\u003eAn annual interest rate is a rate for one year, not a daily rate of return. Daily interest is calculated using the applicable balance and annual interest rate. The amount actually paid varies with taxes and how amounts are rounded to whole won.\u003c/p\u003e\n\u003cp\u003eThe following example uses a deposit of 10 million won, the basic holding limit for Safe Box. It assumes an interest rate of \u003cstrong\u003e1.80% annually\u003c/strong\u003e. This was the advertised basic rate before tax on September 16, 2026. It is not a guaranteed rate for accounts opened now.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCalculation\u003c/th\u003e\n\u003cth\u003eFormula\u003c/th\u003e\n\u003cth\u003eResult\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Calculation\"\u003eDaily interest before tax\u003c/td\u003e\n\u003ctd data-label=\"Formula\"\u003e10,000,000 won × 0.018 ÷ 365 days\u003c/td\u003e\n\u003ctd data-label=\"Result\"\u003eAbout 493 won\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Calculation\"\u003eAfter-tax equivalent under standard taxation\u003c/td\u003e\n\u003ctd data-label=\"Formula\"\u003eDaily interest before tax × 0.846\u003c/td\u003e\n\u003ctd data-label=\"Result\"\u003eAbout 417 won\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe after-tax equivalent is an estimate using the standard withholding tax rate of 15.4%. It does not account for other tax treatments, such as tax exemptions. The amount actually deposited depends on the tax calculation at the time of payment.\u003c/p\u003e\n\u003cp\u003eYou can check the standard tax treatment in \u003ca href=\"https://obank.kbstar.com/quics?cc=b061496%3Ab061645\u0026amp;isNew=Y\u0026amp;page=C016613\u0026amp;prcode=DP01001659\"\u003eKB Kookmin Bank’s deposit calculation information\u003c/a\u003e. If you keep money in the account for several days, use the applicable balance for each day. If the interest rate changes, calculate the periods before and after the change separately.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-should-you-compare-interest-rates-and-limits\" class=\"anchor\" id=\"how-should-you-compare-interest-rates-and-limits\"\u003e\u003c/a\u003eHow should you compare interest rates and limits?\u003c/h2\u003e\n\u003cp\u003eCompare the interest rate that will actually apply to your balance. You should not assume that the advertised highest rate applies to the entire balance. If you do not meet the preferential-rate requirements, only the basic rate may apply.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eTerm to check\u003c/th\u003e\n\u003cth\u003eWhat to check\u003c/th\u003e\n\u003cth\u003eHow it affects your decision\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003eBasic rate\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eRate applied without additional requirements\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eInterest earned if you do not meet preferential-rate requirements\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003ePreferential-rate requirements\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eRequirements such as salary deposits or transaction activity\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eThe rate you can actually maintain\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003eBalance cap for the rate\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eBalance range eligible for the higher rate\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eAverage return on your entire balance\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003eCalculation by balance tier\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eWhether a different rate applies only to the portion above the cap\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eInterest earned when you exceed the cap\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003eAccount and holding limits\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eAmount you can put in the account\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eHow much of a lump sum you can hold\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Term to check\"\u003eRate changes\u003c/td\u003e\n\u003ctd data-label=\"What to check\"\u003eWhen a changed rate takes effect\u003c/td\u003e\n\u003ctd data-label=\"How it affects your decision\"\u003eChanges to expected interest after opening the account\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThe balance cap for a higher rate may differ from the deposit limit. Some products let you hold money above the rate cap at a lower rate. Do not assume you cannot deposit more solely because of the rate cap.\u003c/p\u003e\n\u003cp\u003eThe rate on a variable-rate product can change after you open an account. Interest rates by financial sector from February 2023 cannot be used for a current comparison. Just before opening an account, check the effective date in the financial company’s product disclosure.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#how-does-the-100-million-won-deposit-protection-limit-apply\" class=\"anchor\" id=\"how-does-the-100-million-won-deposit-protection-limit-apply\"\u003e\u003c/a\u003eHow does the 100 million won deposit protection limit apply?\u003c/h2\u003e\n\u003cp\u003eEligible ordinary deposits are protected up to 100 million won per person, per financial company. This limit has applied since September 1, 2025. It covers the combined amount of principal and eligible interest.\u003c/p\u003e\n\u003cblockquote\u003e\n\u003cp\u003eDeposit protection limit of 100 million won (including principal and interest)\u003c/p\u003e\n\u003cp\u003eFinancial Services Commission, “A New Era of the 100 Million Won Deposit Protection Limit Begins Today”\u003c/p\u003e\n\u003c/blockquote\u003e\n\u003cp\u003eYou can confirm the effective date in the \u003ca href=\"https://www.fsc.go.kr/po010105/85200\"\u003eFinancial Services Commission announcement\u003c/a\u003e. The former 50 million won limit should not be used to describe the current rules. Eligible ordinary deposits at the same financial company are combined.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eWhere the money is held\u003c/th\u003e\n\u003cth\u003eHow the protection limit for ordinary deposits is calculated\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Where the money is held\"\u003eA parking account and a fixed-term deposit at the same bank\u003c/td\u003e\n\u003ctd data-label=\"How the protection limit for ordinary deposits is calculated\"\u003eThe two products are combined\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Where the money is held\"\u003eDifferent branches of the same financial company\u003c/td\u003e\n\u003ctd data-label=\"How the protection limit for ordinary deposits is calculated\"\u003eDeposits are combined even if the branches differ\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Where the money is held\"\u003eEligible deposits at different financial companies\u003c/td\u003e\n\u003ctd data-label=\"How the protection limit for ordinary deposits is calculated\"\u003eCalculated separately for each financial company\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eIf you hold principal up to the limit, some interest may push the total above it. Check deposits you already have at the same financial company. When splitting money among financial companies, identify which company is the actual party to each contract. The rules for combining deposits are explained in the \u003ca href=\"https://www.korea.kr/news/policyNewsView.do?newsId=148952118\"\u003eFinancial Services Commission’s deposit protection Q\u0026amp;A\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#comparing-parking-accounts-with-cma-and-mmf\" class=\"anchor\" id=\"comparing-parking-accounts-with-cma-and-mmf\"\u003e\u003c/a\u003eComparing parking accounts with CMA and MMF\u003c/h2\u003e\n\u003cp\u003eA parking account is a deposit, while a typical securities firm CMA uses investment products. CMA stands for Cash Management Account. It is an asset management account that invests its balance in products such as RP or MMF.\u003c/p\u003e\n\u003cp\u003eMMF stands for Money Market Fund. It is a fund that invests mainly in short-term financial products. Its returns depend on investment performance and vary with the results. An MMF-type CMA uses this fund to invest the account balance.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eBank or savings bank parking account\u003c/th\u003e\n\u003cth\u003eTypical securities firm CMA\u003c/th\u003e\n\u003cth\u003eMMF\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eStructure\u003c/td\u003e\n\u003ctd data-label=\"Bank or savings bank parking account\"\u003eDeposit account with deposits and withdrawals as needed\u003c/td\u003e\n\u003ctd data-label=\"Typical securities firm CMA\"\u003eInvests the account balance in investment products\u003c/td\u003e\n\u003ctd data-label=\"MMF\"\u003eFund investing in short-term financial products\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eBasis for returns\u003c/td\u003e\n\u003ctd data-label=\"Bank or savings bank parking account\"\u003eContracted deposit interest rate\u003c/td\u003e\n\u003ctd data-label=\"Typical securities firm CMA\"\u003eVaries by type, such as RP-type or MMF-type\u003c/td\u003e\n\u003ctd data-label=\"MMF\"\u003eFund performance\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eLoss of principal\u003c/td\u003e\n\u003ctd data-label=\"Bank or savings bank parking account\"\u003eSubject to the deposit contract and protection scheme\u003c/td\u003e\n\u003ctd data-label=\"Typical securities firm CMA\"\u003ePossible, depending on the investment product\u003c/td\u003e\n\u003ctd data-label=\"MMF\"\u003ePossible\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eDeposit protection\u003c/td\u003e\n\u003ctd data-label=\"Bank or savings bank parking account\"\u003eApplies if it is an eligible deposit\u003c/td\u003e\n\u003ctd data-label=\"Typical securities firm CMA\"\u003eGenerally not covered\u003c/td\u003e\n\u003ctd data-label=\"MMF\"\u003eNot covered\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eConditions for withdrawing money\u003c/td\u003e\n\u003ctd data-label=\"Bank or savings bank parking account\"\u003eAccount-specific withdrawal terms\u003c/td\u003e\n\u003ctd data-label=\"Typical securities firm CMA\"\u003eTerms of automatic sale and withdrawal services\u003c/td\u003e\n\u003ctd data-label=\"MMF\"\u003eRedemption request and payment terms\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eThere are exceptions that qualify for deposit protection, such as merchant banking-type CMAs. Do not judge by the name alone; check the protection terms in the product description. The Korea Life Insurance Association’s financial life guidebook explains the merchant banking-type category.\u003c/p\u003e\n\u003cp\u003eA CMA or MMF does not always offer a higher return than a parking account. In particular, an MMF’s past return is not a contracted interest rate for the future. Compare products over the same period and on the same basis for taxes and costs. You can check the structure and risks in \u003ca href=\"https://english.samsungpop.com/mbw/finance/cma.do?cmd=guide\"\u003eSamsung Securities’ CMA information\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#when-can-you-use-an-emergency-fund-for-payments\" class=\"anchor\" id=\"when-can-you-use-an-emergency-fund-for-payments\"\u003e\u003c/a\u003eWhen can you use an emergency fund for payments?\u003c/h2\u003e\n\u003cp\u003eFor an emergency fund, distinguish between the balance you hold and the balance you can actually use for payments. Card payments may not be taken directly from the space where the money earns interest. The ability to withdraw money and the ability to make automatic payments are separate conditions.\u003c/p\u003e\n\u003cp\u003eFor example, withdrawals from Safe Box go through its linked checking account. You cannot register Safe Box as an account for card payments or automatic transfers. This restriction is stated in \u003ca href=\"https://m.kakaobank.com/FaqView/view/8486\"\u003eKakaoBank’s frequently asked questions\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eWith an MMF, the time you request redemption may differ from the time you receive the cash. Immediate withdrawals from a CMA may also be handled through a separate service. Korea Investment \u0026amp; Securities describes a method of withdrawing through a CMA-backed loan, subject to conditions. Details are in the \u003ca href=\"https://pension.koreainvestment.com/main/mall/opencma/CmaInfo.jsp?cmd=TF02bb010000\"\u003eKorea Investment \u0026amp; Securities CMA product guide\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eReview where to keep your emergency fund in this order.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eCheck how much you need for upcoming payment dates.\u003c/li\u003e\n\u003cli\u003eCheck which account automatic payments will actually be taken from.\u003c/li\u003e\n\u003cli\u003eCheck how to move money from the holding space to the payment account.\u003c/li\u003e\n\u003cli\u003eCheck transfer limits and available hours.\u003c/li\u003e\n\u003cli\u003eCompare the interest paid on the remaining funds.\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch2\u003e\n\u003ca href=\"#common-parking-account-mistakes\" class=\"anchor\" id=\"common-parking-account-mistakes\"\u003e\u003c/a\u003eCommon parking account mistakes\u003c/h2\u003e\n\u003cp\u003eA common misunderstanding is treating different terms as if they mean the same thing. Check the interest rate, payment date, and protection limit separately. Before opening an account, keep the following distinctions in mind.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eDo not assume that interest calculated daily is automatically deposited every day.\u003c/li\u003e\n\u003cli\u003eDo not calculate interest on your entire balance using the highest advertised rate.\u003c/li\u003e\n\u003cli\u003eDo not assume that each account at the same financial company has its own protection limit.\u003c/li\u003e\n\u003cli\u003eDo not treat an MMF’s past return as if it were a contracted deposit interest rate.\u003c/li\u003e\n\u003cli\u003eDo not assume that a balance in a holding space is available for automatic payments.\u003c/li\u003e\n\u003c/ul\u003e\n","tags":["Asset allocation","Everyday Finance","Taxes"],"faqs":[{"question":"Is a parking account a different product from a regular deposit and withdrawal account?","answer":"Parking account is a general term for a deposit account that allows deposits and withdrawals at any time and is used to hold short-term funds. It is not a separate legal category of deposit. Interest rates and how funds are held vary by product."},{"question":"If I leave money in the account for just one day, will the interest be paid the next day?","answer":"Calculating interest daily does not mean it is paid the next day. Some products pay the accumulated interest on a scheduled payment date or at the customer's request. Check the interest calculation method and payment date separately in the product description."},{"question":"Will I earn interest if I deposit and withdraw money on the same day?","answer":"You may not earn interest on a product that calculates it based on each day's ending balance. Check whether the money is still in the account at the time used to calculate interest."},{"question":"How much interest will I earn in one day if I put 10 million won in a parking account?","answer":"At an annual rate of 1.80%, calculated over 365 days, the daily interest before tax is about 493 won. After applying the standard withholding tax rate of 15.4%, the equivalent amount is about 417 won. The interest rate in this example comes from KakaoBank's information dated September 16, 2026."},{"question":"Can I deposit money above the limit for the interest rate?","answer":"The limit for the higher interest rate may differ from the account's deposit limit. Some products apply a lower rate to the amount above the interest rate limit. Check the rates for each balance tier and the deposit limit separately."},{"question":"Are parking accounts also covered by deposit insurance?","answer":"Yes, if they are eligible deposits at a bank or savings bank. Since September 1, 2025, up to 100 million won in principal and applicable interest per person is protected at each financial institution. Other eligible deposits at the same financial institution are combined."},{"question":"Are CMA and MMF the same product?","answer":"A CMA is an asset management account that manages the funds in the account. An MMF is a fund that invests in short-term financial products. A CMA that uses an MMF to manage its funds is an MMF-type CMA."},{"question":"Are all CMAs ineligible for deposit insurance?","answer":"Most securities firm CMAs are not covered by deposit insurance. There are exceptions that are covered, such as merchant banking-type CMAs. Check the deposit insurance terms in the product description before signing up."},{"question":"Can I pay my card bill directly from my parking account?","answer":"It depends on how the product is structured. With KakaoBank's Safe Box, you must first transfer the money to the linked deposit and withdrawal account. Check the automatic payment feature and transfer limits as well."}],"sources":[{"url":"https://www.fsc.go.kr/po010105/85200","title":"Financial Services Commission, A new era begins today with a deposit protection limit of 100 million won, September 1, 2025","type":"source"},{"url":"https://www.korea.kr/news/policyNewsView.do?newsId=148952118","title":"Korea Policy Briefing, Deposit protection up to 100 million won! Twice the peace of mind","type":"source"},{"url":"https://blog.kakaobank.com/posts/saving-daily-interest","title":"KakaoBank, Safe Box interest: How much do you gain by receiving it every day?, September 16, 2026","type":"data_point"},{"url":"https://kakaobank.com/products/safeboxes","title":"KakaoBank Safe Box product information","type":"source"},{"url":"https://m.kakaobank.com/FaqView/view/8486","title":"Frequently asked questions about using KakaoBank Safe Box","type":"source"},{"url":"https://obank.kbstar.com/quics?cc=b061496%3Ab061645\u0026isNew=Y\u0026page=C016613\u0026prcode=DP01001659","title":"KB Kookmin Bank deposit product information and guidance on calculating interest under general taxation","type":"source"},{"url":"https://english.samsungpop.com/mbw/finance/cma.do?cmd=guide","title":"Samsung Securities CMA guide: Management types and investment risks","type":"source"},{"url":"https://pension.koreainvestment.com/main/mall/opencma/CmaInfo.jsp?cmd=TF02bb010000","title":"Korea Investment \u0026 Securities CMA product guide: MMF withdrawal processing conditions","type":"source"},{"url":"https://lifeinsedu.or.kr/Content/Areas/FinanceKnow/Fadult/05_lifecycle.pdf","title":"Korea Life Insurance Association, Financial Life Guidebook by Life Stage: Retirement","type":"source"}],"images":[{"id":1788,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6Mjc1MDksInB1ciI6ImJsb2JfaWQifX0=--d390151fd650b432691ec5ae44c609af5e13995a/ai-4938e4b6.webp","is_representative":true,"generation_method":"ai_photo","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"주방에서 여성이 지켜보는 동안 수리 기사가 싱크대 아래 새는 배관을 고치고 있다.","caption":"파킹통장은 갑작스러운 지출에 대비한 비상금을 필요할 때 꺼내 쓸 수 있게 해줍니다.","description":null},"en":{"alt":"A woman stands in a kitchen while a repair worker fixes a leaking pipe beneath the sink.","caption":"A parking account keeps emergency savings accessible for unexpected expenses.","description":null},"ja":{"alt":"キッチンで女性が見守る中、修理業者がシンク下の水漏れした配管を直している。","caption":"パーキング口座なら、急な出費に備えた資金を必要なときに引き出せます。","description":null},"es":{"alt":"Una mujer está en la cocina mientras un técnico repara una tubería que gotea bajo el fregadero.","caption":"Una cuenta de ahorro de libre disposición permite acceder al fondo de emergencia ante gastos imprevistos.","description":null},"id":{"alt":"Seorang perempuan berdiri di dapur sementara tukang memperbaiki pipa bocor di bawah wastafel.","caption":"Rekening tabungan fleksibel memudahkan akses ke dana darurat saat ada pengeluaran tak terduga.","description":null},"pt":{"alt":"Uma mulher está na cozinha enquanto um técnico conserta um cano com vazamento sob a pia.","caption":"Uma conta de livre movimentação mantém a reserva de emergência acessível para despesas inesperadas.","description":null},"zh-hant":{"alt":"一名女子站在廚房裡，維修人員正在修理水槽下方漏水的管線。","caption":"活期存款帳戶讓緊急預備金能隨時用於突發開支。","description":null},"de":{"alt":"Eine Frau steht in der Küche, während ein Handwerker ein undichtes Rohr unter der Spüle repariert.","caption":"Ein täglich verfügbares Sparkonto hält die Notfallreserve für unerwartete Ausgaben bereit.","description":null}}},{"id":1789,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6Mjc1MTUsInB1ciI6ImJsb2JfaWQifX0=--f5a7ef48641408b688cfc0dca9d586571e6401d8/ai-05233f36.webp","is_representative":false,"generation_method":"ai_semi","license":"ai_generated","mime_type":"image/webp","width":1536,"height":1024,"translations":{"ko":{"alt":"거실 소파에서 휴대전화를 확인하는 남성 앞 탁자에 이자 안내문과 결제 안내문이 놓여 있다.","caption":"파킹통장은 짧은 기간 맡긴 잔액에도 이자를 계산합니다.","description":null},"en":{"alt":"A man checks his phone on a sofa, with an interest notice and a payment notice on the coffee table.","caption":"A parking account calculates interest even on balances held for a short time.","description":null},"ja":{"alt":"ソファでスマートフォンを確認する男性の前に、利息と支払いの案内が置かれている。","caption":"パーキング口座は、短期間預けた残高にも利息を計算します。","description":null},"es":{"alt":"Un hombre consulta su teléfono en el sofá; sobre la mesa hay avisos de intereses y de pago.","caption":"Una cuenta de ahorro flexible calcula intereses incluso por saldos mantenidos poco tiempo.","description":null},"id":{"alt":"Seorang pria memeriksa ponsel di sofa, dengan pemberitahuan bunga dan pembayaran di meja.","caption":"Rekening parkir menghitung bunga bahkan untuk saldo yang disimpan sebentar.","description":null},"pt":{"alt":"Um homem consulta o celular no sofá, com avisos de juros e de pagamento sobre a mesa.","caption":"Uma conta de liquidez imediata calcula juros mesmo sobre saldos mantidos por pouco tempo.","description":null},"zh-hant":{"alt":"一名男子坐在沙發上查看手機，茶几上放著利息通知和付款通知。","caption":"活期停泊帳戶對短期存放的餘額也會計算利息。","description":null},"de":{"alt":"Ein Mann prüft auf dem Sofa sein Handy; auf dem Tisch liegen eine Zins- und eine Zahlungsmitteilung.","caption":"Ein täglich verfügbares Konto berechnet Zinsen auch für kurzfristig gehaltenes Guthaben.","description":null}}}],"published_at":"2026-10-12T18:55:24+09:00","updated_at":"2026-10-12T18:55:24+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/parking-account-daily-interest-deposit-protection"}