Youth Leap Account
Summary of Youth Leap Accounts
hello. Today, we will look at the product overview and main benefits for the ‘youth medicine account’ that will be released in June 2023, sign-up requirements, whether it is possible to sign up for youth hope savings and overlap, and the application period. As it is an important content, invest only 1 minute and be sure to prepare for the Youth Leap Account. The link below will give you a detailed explanation.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Product overview and main benefits, application method
Classification contents
maturity period 5 years
Payment limit: KRW 700,000 per month
Main Benefits Government Contribution 3-6% depending on income level
(2.1~2.4 million won per month)
The level of the central bank’s interest rate is undecided
Tax-exempt benefits Full interest income tax-free benefits
Maturity amount Approx. 50 million won
1. Maturity period: 5 years
2. Monthly payment limit: up to KRW 700,000
3. Main benefits: Differential payment of government contributions according to income, provision of commercial bank interest rates (the specific interest rate level is undecided, but expected to be fixed for 3 years and variable for 2 years), full interest income is tax-free
4. Maturity amount: about KRW 50 million
5. How to apply: As of the current standard (23.4.11.) The handling agency has not yet been decided, so the related details are scheduled to be announced by the Small Finance Promotion Agency, so please log in and check them once.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
If a qualified youth joins the Youth Leap Account and pays 700,000 won a month for 5 years, he or she can receive about 50 million won. Since interest income is also fully tax-free, you can receive full payments, government contributions, and bank interest.
However, since the government contribution varies depending on the income level, apart from meeting the membership requirements, high-income earners may not receive the government contribution benefits.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
※ Government contribution details
personal income
(Based on total salary) Payment limit Contribution payment limit Contribution matching rate Contribution limit
24 million won or less 700,000 won per month 400,000 won per month 6.0% 240,000 won per month
Less than KRW 36 million KRW 500,000 per month 4.6% KRW 230,000 per month
Less than KRW 48 million KRW 600,000 per month 3.7% KRW 220,000 per month
60 million won or less 700,000 won per month 3.0% 21,000 won per month
Less than KRW 75 million – – –
The government-supported contribution limit and matching ratio are shown in the table above.
For example, a person whose personal income is less than 36 million won can receive a contribution of 23,000 won if they pay more than 500,000 won per month with a 4.6% matching rate applied within the limit of 500,000 won per month. Individuals with an income of less than KRW 48 million can receive a monthly contribution of KRW 22,000 by applying a 3.7% matching rate within the limit of KRW 600,000.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
If you pay an amount in excess of the contribution payment limit, you can receive only commercial bank interest + tax exemption for the excess amount.
Therefore, those who think, ‘you can pay up to 700,000 won per month in the youth drug account…?, 500,000 won per month in the youth hope savings account was too hard…’ would rather pay only up to the contribution limit and the difference in a parking account It is also considered efficient to manage funds through deposits, etc.
For example, if your annual salary is less than 48 million won, you can pay 600,000 won per month to receive the maximum government contribution and operate the difference of 100,000 won separately.
Of course, since the tax exemption benefits are also attractive, if you say, “I want to receive a lot of interest income exemption benefits at the commercial bank interest rate,” you can pay 700,000 won per month regardless of your income level. We recommend that you carefully check if maintenance is possible before signing up.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
joining condition
Classification contents
Adolescents aged 19 to 34 years old
Individual Income Gross wages less than 75 million won
Household Income 180% or less of the median household income
If the above three conditions are met, you can sign up for the Youth Leap Account.
However, if you have a history of being classified as a person subject to comprehensive financial income taxation between 2019 and 2021, your subscription will be restricted even if you meet both age and income standards.
Among the above conditions, since the age does not include the military service period, those who have completed two years of military service can enroll up to the age of 36.
In addition, those whose personal income is less than 75 million won based on the total salary, but as seen in the government contribution table, those who fall between 60 million won and 75 million won cannot receive government contributions.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
※ Household Income Summary Table
180% of median income based on number of household members
KRW 3,740,205 per person
KRW 6,221,079 for 2 people
KRW 7,982,668 for 3 people
KRW 9,721,735 for 4 people
KRW 11,395,238 for 5 people
6 people KRW 13,010,365
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Duplicate subscription to Youth Hope Installment Savings
conclusion is impossible.
Since the Youth Leap Account and Youth Hope Savings Savings have a similar business purpose of building assets for young people, overlapping subscriptions are not possible.
However, in order to provide the same opportunity, it is allowed to subscribe sequentially after the Hope Savings Savings Project expires, so subscribers of the Youth Hope Savings Savings Account can sign up for the Youth Leap Account after making payments until the maturity of the Savings Savings Savings.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Application period
From June to December 2023, we plan to apply for membership every two weeks every month.
Please note that subscribers to the Youth Hope Installment Savings Account receive a separate application after the maturity of the installment savings account in February 2024.
Youth Leap Account
Youth Leap Account
Youth Leap Account