Youth Leap Account with 9% Annual Interest Rate Starts July Application! If You Meet "These Conditions," Apply Without Hesitation (Eligibility, Method, Tips Summary)
"In this low-interest rate era, is there a savings product with a 9% annual interest rate?"
Yes, there is! The **'Youth Leap Account'**, a policy financial product created by the government to help young people build a lump sum, truly a 'game-changer', **began its July new application yesterday (1st)**. This 'savings account exclusively for youth', already joined by 2 million people, are you still hesitating? We have perfectly summarized whether you are eligible to join and how to apply.
1. What is the 'Youth Leap Account' All About? (3 Key Benefits)
The Youth Leap Account is not just a simple savings product. With **government contributions** and **tax-free benefits** added, even if the commercial bank interest rate is around 3-4% per annum, you can actually enjoy an enormous effect, equivalent to subscribing to a **savings product with an annual interest rate in the 9% range**.
- The Government Adds Money (Government Contribution): Proportionate to your deposit, the government adds **up to ₩24,000** in support money each month. If you consistently deposit for 5 years, you'll accumulate up to ₩1.44 million in 'bonus money'.
- No Income Tax on Interest (Tax-Free Benefit): The interest earned on money diligently saved for 5 years would normally be subject to a 15.4% tax, but the Youth Leap Account offers **full tax exemption**.
- Bank Interest is Basic! In addition to the above benefits, you can also receive the **basic interest rate (variable) of 5-6% per annum** offered by each bank.
2. Most Important! Can I Join? (Eligibility)
If you meet all three conditions below, you can also become an owner of the 'Youth Leap Account'!
- ✅ Age: Youth **aged 19 to 34 or younger** (Up to 6 years excluded from age calculation for military service)
- ✅ Individual Income:
- Total gross income of ₩75 million or less
- (However, if total gross income exceeds ₩60 million, only tax-free benefits apply without government contribution)
- ✅ Household Income: **180% or less of the standard median income** based on the number of household members
3. How to Apply? (Application Procedure and Period)
Applying is very simple. You can apply non-face-to-face through the apps of 11 commercial banks.
- July Application Period: **July 1st (Mon) ~ July 11th (Thu)**
- Application Method:
- Access the app of a participating bank (KB Kookmin, Shinhan, Hana, Woori, Nonghyup, etc. 11 banks)
- Apply for subscription in the 'Youth Leap Account' menu
- Wait for about 2 weeks for eligibility screening
- After notification of results, open an account in the respective bank app
- Account Opening Period:
- 1-person household: July 17th ~ July 26th
- 2 or more-person household: July 28th ~ August 8th
Don't Miss the 'Game-Changer' for Building a Lump Sum!
In these times when it's hard to find suitable investment opportunities due to interest rate cuts, the 'Youth Leap Account' is the best financial product that Korean youth should never miss. If you deposit ₩700,000 every month for 5 years, you can accumulate a lump sum close to **₩50 million** through government contributions and tax-free benefits.
- Youth Leap Account 9% annual interest rate effect! Did everyone check the July application?
- If anyone has already joined, please share your actual satisfaction and any tips for those considering joining!
- Is there anyone who wants to join this opportunity and challenge themselves to build a ₩50 million lump sum in 5 years?
Don't forget to apply by the deadline on **July 11th**!
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