Hello everyone, this is Jay, your lazy office worker.
In this era of low interest rates from banks, it's difficult to save money with regular savings accounts.
So, I brought some news that will help young people with a stable income save.
This is the Youth Leap Account.
The Youth Leap Account is a product created by the government to help the 2030 generation easily start building their assets.
In this session, I have written an article as a guide for opening a Youth Leap Account, explaining its significance and target audience.
The text below is my membership application Based on Shinhan Bankdid.
The different content for each bank is in the title *and content Each bank is different.I will write it down as.
Membership Eligibility
| item | Standard |
|---|---|
| Age | Based on the date of registration Aged 19 to 34(Born between 1991 and 2006) ※ Military service can be deducted up to a maximum of 6 years ※ |
| Personal income requirements | The previous year (2024) Total salary ≤ 75 million won or the previous (2024) tax period Comprehensive income amount ≤ 63 million won |
| Household income requirement | The previous (2024 tax year) Household income is at or below 250% of the median income. |
| other | A person who has not been subject to comprehensive taxation on financial income at least once in the last three tax periods. |
Product structure
| Division | Content |
|---|---|
| Product type | Regular installment savings · Free savings plan |
| Contract period | 60 months (5 years) |
| Payment limit | 1,000 won per month, Up to 700,000 won (up to 8.4 million won per year) |
| Government support | Government contributionⅠ·Ⅱ + All interest income is tax-exempt. |
| Sales period | 2023.07 ~ 2025.12 |
Government Contribution Calculation Table
3-1) Total salary Standard
| Total salary | Contribution I Reference price | Payment rate | Contribution II Reference price | Payment rate |
|---|---|---|---|---|
| Less than 24 million won | The smaller amount between the monthly principal payment and 400,000 won. | 6 % | Amount exceeding 400,000 won | 3 % |
| 24 million to 36 million won | 〃 500,000 won | 4.6 % | Amount exceeding 500,000 won | 3 % |
| 36 million to 48 million won | 〃 600,000 won | 3.7 % | Amount exceeding 600,000 won | 3 % |
| 48 million to 60 million won | 〃 700,000 won | 3.0 % | Amount exceeding 700,000 won | – |
| ≥ 60 million won | Not paid | – | – | – |
3-2) Total income Standard
Calculation tips Contribution I is 'monthly principal payment vs reference amount'. Smaller amount × rateContribution II is Excess amount × 3%(in bulk.)
| Total income | Contribution I Reference price | Payment rate | Contribution II Reference price | Payment rate |
|---|---|---|---|---|
| Less than 16 million won | The smaller amount between the monthly principal payment and 400,000 won. | 6 % | Amount exceeding 400,000 won | 3 % |
| 16 million to 26 million won | 〃 500,000 won | 4.6 % | Amount exceeding 500,000 won | 3 % |
| 26 million to 36 million won | 〃 600,000 won | 3.7 % | Amount exceeding 600,000 won | 3 % |
| 36 million to 48 million won | 〃 700,000 won | 3.0 % | Amount exceeding 700,000 won | – |
| ≥ 48 million won | Not paid | – | – | – |
Interest rate system *
| Division | Interest rate (pre-tax) | Remarks |
|---|---|---|
| base interest rate | Annual 4.5 % | Announcement of the subscription date interest rate → 3 years fixed · 2 years variable |
| Preferential interest rate | Up to 1.5% per year | Lump sum payment upon termination of maturity |
| maximum interest rate | Annual 6.0% = 4.5 + 1.5 | When all preferential conditions are met |
4-1) Details of preferential treatment items (example with Shinhan Bank, varies by bank)
| item | Condition | Preference |
|---|---|---|
| Income + Preference | Previous year's total salary ≤ 24 million won (total income ≤ 16 million won) | 0.50 % |
| Salary transfer | Shinhan Bank account Over 30 months Salary deposit | 0.30 % |
| Card performance | From the same account Over 30 months Shinhan Card payment | 0.30 % |
| First transaction | No Shinhan Bank savings, deposits, or subscription products in the last year. | 0.40 % |
Interest after maturity * (varies by bank)
| Elapsed time | applicable interest rate |
|---|---|
| Within 1 month | Interest rate of the fixed term deposit at maturity × ½ (minimum 0.10 %) |
| More than 1 month ~ 6 months | Regular savings deposit interest rate × ¼ (minimum 0.10 %) |
| Over 6 months | Annual 0.10 % |
Early termination interest rate
6-1) Termination before 36 months after joining
| Progress | Deduction rate | Application form |
|---|---|---|
| Less than 1 month | – | Annual 0.10 % |
| 1 ~ <3 months | 80 % | Base rate × (1–deduction rate) × elapsed months/60 |
| 3 to less than 6 months | 70 % | 〃 |
| 6 to less than 9 months | 30 % | 〃 |
| 9 ~ <11 months | 20 % | 〃 |
| More than 11 months | 10 % | 〃 |
※ If the calculated value is less than 0.10%, apply 0.10%.
6-2) 36 months have passed ~ early termination before maturity
→ Base interest rate upon registration Application. Preferred interest rates, tax exemption, government contributions. Only 60% will be paid..
Special early termination (100% government contribution · tax exemption maintained)
- Death and overseas migration
- Retirement, business closure, hospitalization treatment for more than 3 months
- Natural disasters, marriage, acquisition of first home, childbirth, etc.
→ When submitting supporting documents Base interest rate + Government contribution 100% Payment.
Lump-sum payment system (for young hope savings maturity)
| Monthly setting amount | Example of a one-time payment option |
|---|---|
| 400,000 won | 2,000,000 - 2,400,000 - 2,800,000 … 12,400,000 - 12,800,000 won |
| 500,000 won | 2,000,000 · 2,500,000 · 3,000,000 … 12,500,000 · 13,000,000 won |
| 600,000 won | 2,400,000 · 3,000,000 · 3,600,000 … 12,000,000 · 12,600,000 won |
| 700,000 won | 2,100,000 - 2,800,000 - 3,500,000 … 11,900,000 - 12,600,000 won |
After the conversion ends, the contribution rules for the general youth leap account apply.
Minimum 2 million won · Within the maximum expected savings maturity payment
The initial lump sum amount 20 months oldconversion by partitioning, additional payments not allowed during the period.
Detergents, deposit insurance, restrictions
| item | Content |
|---|---|
| taxation | Interest income Fully tax-exempt (Article 91-22 of the Restriction of Special Taxation Act) |
| Deposit protection | Principal + Interest Sum 50 million won limit protection |
| Provision of collateral | Possible within 100% of the deposit balance upon bank approval. |
| Seizure and attachment | Limitations on principal and interest payments upon setting up |
| Balance certificate | No balance changes are allowed on the day of issuance. |
| Dormant deposit | After the expiration date or final trading date 5 years Possible contribution from the Korea Financial Services Agency if not resolved. |
| Caution for early termination | In case of voluntary termination the day before the due holiday Tax-exempt contributions extinguished |
| Preferential interest rate | Matured termination accountPaid only (not paid in case of early termination) |
How to check interest rates by bank
National Bank Federation Consumer PortalYou can check the interest rates of youth savings accounts by bank.
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