The amount of money deposited with South Korean brokerage houses hit the highest level in 17 months last week as investors wait on the sidelines for the right investment tool, data showed Monday.

The deposits waiting for investment in stocks and other derivative products rose to 18.3 trillion won ($16.8 billion) as of Tuesday, surpassing 18 trillion for the first time since September 2013, according to the Korea Financial Investment Association.

The daily deposit amount was 15.1 trillion won on average last year, but it has been increasing this year as investors look for alternative investment vehicles.

The latest trend comes as the annual interest rates on fixed deposits fell to a record low of 2.42 percent, with the real interest rate falling below 2 percent.

The number of accounts that have been used for stock transactions over the past six months also rose, with the daily average rising from 19.8 million to 20.5 million this year, the KFIA said. (Yonhap)