After-Tax Interest Calculator
Enter an amount, a period, and a rate to calculate the interest you actually receive after tax.
KRW
days
%
Pre-tax interest–
Interest income tax 15.4%–
Interest actually received–
The same amount and period at other rates
Calculated by holding your amount and period and varying only the rate.
| Annual rate (pre-tax) | Pre-tax interest | Interest income tax | Interest actually received |
|---|
Calculation basis
Pre-tax interest is the amount deposited multiplied by the annual rate, multiplied by the days held, and divided by 365. Interest income tax of 15.4% is then deducted to give the interest actually received. That rate is income tax of 14% plus local income tax of 1.4%, under article 129 of the Income Tax Act. Pre-tax interest and tax are each settled to the won, and since financial institutions handle the final digit differently, the amount actually deposited can differ by about a won.
Products that add interest to principal each month earn interest on that interest and can exceed the figures below. This calculator excludes such reinvestment and calculates simply. Where financial income exceeds KRW 20 million a year, global taxation applies and the tax differs.
Pre-tax interest is the amount deposited multiplied by the annual rate, multiplied by the days held, and divided by 365. Interest income tax of 15.4% is then deducted to give the interest actually received. That rate is income tax of 14% plus local income tax of 1.4%, under article 129 of the Income Tax Act. Pre-tax interest and tax are each settled to the won, and since financial institutions handle the final digit differently, the amount actually deposited can differ by about a won.
Products that add interest to principal each month earn interest on that interest and can exceed the figures below. This calculator excludes such reinvestment and calculates simply. Where financial income exceeds KRW 20 million a year, global taxation applies and the tax differs.