What Are Seoul City's Treasury Account Interest Rates?... 2024 Interest Yield at 4.07%

First Disclosure of Agreed Treasury Account Interest Rates
Primary Treasury Regular Deposit at 3.45% (12-Month Term)
Deposit Yield Reaches 4.07% with Corporate MMDA and Others

The interest rates for Seoul City's treasury account, based on the first treasury, are 3.07% for a 6-month fixed deposit and 3.45% for a 12-month fixed deposit. These rates are higher than the deposit bank interest rate of 2.81%. This is the first time the city has released the agreed treasury account interest rates to the public.

According to Seoul City on January 8, the city designated Shinhan Bank as its treasury bank (first and second treasury) in 2022 and entered into a four-year treasury agreement starting from 2023. The city manages its funds in three categories: public funds deposit (fixed interest rate), fixed deposit (variable interest rate), and corporate MMDA (variable interest rate).

Deposit Type-Specific Applicable Interest Rates According to Treasury Agreement (Effective December 9, 2025). Seoul City

The agreed interest rates released this time are 3.07% (6 months) and 3.45% (12 months) for fixed deposits based on the first treasury, and 3.54% for corporate MMDA. These rates are higher than the 2.81% deposit bank interest rate announced by the Bank of Korea as of November 2025.

The city selectively deposits idle funds into accounts with higher interest rates, considering the amount and timing of expenditures, in order to increase interest income. By depositing most of its idle funds into high-yield fixed deposits and corporate MMDA products, Seoul City earned 16.38 billion won in interest income in 2024, with an interest yield of 4.07%.

This disclosure follows the revision of the Local Accounting Act Enforcement Decree in December last year, which provided the legal basis for local governments to release their treasury agreement interest rates. Previously, the agreed interest rates with treasury banks were not disclosed, but under the revised decree, when a treasury bank is designated or changed, the interest rates agreed upon for treasury account management must be made public.

Park Kyunghwan, Director of Finance at Seoul City, stated, "With the public release of the treasury agreement interest rates, we will be able to operate the city's treasury more transparently and efficiently."