2023-06-23 14:12:03
▲ Up to 50 million won at 6% per year… Launch of Youth Leap Account Photo: Yonhap News The number of applicants for the ‘Youth Leap Account’, which can raise up to 50 million won by paying 700,000 won every month for 5 years, exceeded 700,000 in one week.
The Financial Services Commission announced that as of 6:30 pm today (23rd), the cumulative number of applicants for the Youth Leap Account was counted at 761,000.
The Youth Leap Account, which was President Yoon Seok-yeol’s presidential campaign pledge, is a product in which the government supports up to KRW 24,000 per month and grants tax-free interest income when subscribers freely pay in installments up to KRW 700,000 per month.
The maturity is 5 years, with a fixed rate for the first 3 years and a floating rate for the next 2 years.
Only young people between the ages of 19 and 34 as of the account opening date can sign up, and their total salary during the previous tax period (2022) must be less than 75 million won.
For young people who applied for this month, the Small Finance Promotion Agency started the income verification process, such as whether personal income and household income were met.
This process will be conducted over the next two weeks.
Among those who apply, young people who do not meet the subscription conditions will be sent an Alim Talk by Seogeumwon.
If there is no separate guidance, the income verification process is normally in progress, and the bank you applied for will inform you of whether or not you can join.
Young people who are notified that they can sign up can choose one bank and open an account between the 10th and 21st of the following month.
In addition, from the next month, you can apply for a Youth Leap Account for 2 weeks every month, and in the case of the following month, you can apply for a new one from the 3rd to the 14th.
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