청년도약계좌Pay up to 700,000 won per month, maturity in 5 years, interest rate up to 6% + government contribution matching = save up to 50 million won in lump sum!
Youth Leap Account launched on June 15th. It is said that the number of applicants for the Youth Leap Account over the two days from Thursday to Friday exceeded 160,000. It is truly becoming a ‘topic of the town.’
Until early this week, registration was being accepted in a 5-part system according to year of birth. Once the 5-part subscription limit is lifted, the number of subscribers will likely be outlined to some extent. Anyone eligible to apply can apply from Thursday, June 22nd to Friday, June 23rd, and from July onwards, a two-week application period is planned to be held every month. The Financial Services Commission estimates that the estimated number of subscribers to the Youth Leap Account is around 3 million.
The Youth Leap Account is a presidential election promise of President Yoon Seok-yeol, and is a project promoted to raise a lump sum of money for young people who have relatively difficulty forming assets. First of all, in terms of age, anyone between the ages of 19 and 34 can sign up, and the period of military service can be recognized for up to 6 years.
Based on income, you can join only if your total salary during the last year’s tax period is 75 million won or less. However, subscribers with income ranging from 60 million won to 75 million won cannot receive government contributions, but can enjoy interest tax exemption benefits.
Based on household income, the sum of the income of household members, including the applicant, must be less than 180% of the standard median income. For reference, the median income of 180% of a single-person household the year before last was about 3.29 million won, and for a four-person household it was about 8.77 million won. Last year, 180% of the median income for a single-person household was about 3.5 million won, and for a four-person household, it was about 9.21 million won. Before the income of the previous tax period is confirmed, the 21-year median income is applied, and after it is confirmed, it must meet the 22-year median income standard.
You can freely make payments to the Youth Leap Account within the limit of 700,000 won per month. However, the government contribution matching ratio varies depending on the personal income total salary or comprehensive income standard. Depending on the contribution payment limit, payments range from 21,000 won to 24,000 won.
Currently, the Youth Leap Account can be signed up non-face-to-face through a banking app and can be applied for at 11 banks (Nonghyup, Shinhan, Woori, Hana, IBK Enterprise, KB Kookmin, Busan, Gwangju, Jeonbuk, Gyeongnam, and Daegu).
The interest rate for each bank was set at a maximum of 6% through consultation between the government and the bank, and the basic interest rate and preferential interest rate for each bank are different, so please visit the website below and be sure to check the preferential interest rate that is more suitable for you. (Website address: https: //portal.kfb.or.kr/compare/receiving_youth_leap_2.php)
I signed up for the ‘Youth Hope Savings’ product last year, so it is impossible to double sign up for the Youth Leap Account this time. There will be many young people in the same situation as me who have subscribed to the Youth Hope Savings Account, but since it is a product that offers a monthly limit of 500,000 won, an interest rate close to 10%, and interest tax exemption, it is more advantageous to collect at maturity in February or March of next year rather than canceling early. .
I was able to hear the stories of various young people who are just starting out in society about the Youth Leap Account. Mr. Kim (30) said, “The subscription period for this Youth Leap Account is 5 years, so I am worried about how many times I will be able to meet the maturity date. “I hope that the scope of reasons for special early termination, which provides both government contributions and tax exemptions, will be broadened, and I hope that the interest rates on savings loans that many young people will use will also continue to be kept low,” she said, expressing her thoughts. gave.
Meanwhile, Jang Jin-woo (pseudonym, 33) said, “It certainly has a higher interest rate than other savings accounts, is exempt from taxation, and includes government contributions, so it seems like it will be easier to save money stably. “The monthly payment of 700,000 won can be freely paid depending on circumstances, so it seems like they have put some consideration and consideration into it,” he said. He said, “In the case of income + preferential interest rate with an additional 0.5%, it is applicable to cases where total salary is 24 million won or less and comprehensive or business income is 16 million won or less, but considering the surrounding salary level, I think this condition is too strict. “It costs this,” he said.
As a young person who deeply sympathizes and understands the purpose of the Youth Leap Account, I hope that since it is a youth financial product in which a large government budget is invested, continuous improvement will be made by continuously collecting and monitoring the opinions of young people who have signed up after its launch. am.
Korea Federation of Banks Consumer Portal Deposit Product Interest Rate Comparison (Youth Leap Account Interest Rate): https://portal.kfb.or.kr/compare/receiving_youth_leap_2.php
Korea Inclusive Finance Agency Youth Leap Account website: https://ylaccount.kinfa.or.kr/main
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