In June 2023, the ‘youth medicine account’ will be released. With this product, you can receive interest of up to 3.8 million won for 5 years. We have summarized the best savings methods to collect 50 million won in a very easy way. We will also give you tips for maintaining savings for a long period of 5 years.
This is the data recently announced by the Financial Services Commission. Download the file to get the most accurate information about your Youth Leap Account.
Financial Services Commission.zip
1.42MB
Conditions for joining the Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
It is important to know the exact Mann age. Be sure to calculate your age.
<Calculating Man’s Age>
Application period
You can apply for the Youth Leap Account from June 23, and apply until December 31. Recruitment of applicants for 2 weeks of each month. And once the application is received, the results will be notified after 2 weeks of review.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
How to apply, check subscription
After reviewing the individual and household income of young people applying for membership, the final decision to join is notified. We are preparing to enable non-face-to-face signup, such as the handling agency app. Therefore, we are promoting non-face-to-face identity verification and income verification to enable subscription without the need for separate documents.
Related details will be announced by the Small Finance Promotion Agency in June. Other details are detailed in the Small Finance Promotion Agency. Check it out through the link.
<Go to the Small Finance Promotion Institute>
support content
If you pay up to 700,000 won for a total of 5 years,
Depending on the interest rate, the maturity amount is expected to be about 47.7 million won to 49.66 million won.
Youth Leap Account
Youth Leap Account
How to maintain installment savings
There are about 24,000 people who cancel the Youth Hope Savings Savings, which was popular in 2022, for one month. Although it was very popular because it was a product that offered high interest, there were many defectors. The reason is that I started saving money because I was too lazy to save for a long time. So, let me tell you about how to maintain a youth leap savings account.
Youth Leap Account
Youth Leap Account
1. Change of payment amount
You can start with 700,000 won from scratch, but maintaining 700,000 won per month is difficult. In this case, you can reduce your payment amount. If you cancel early, you will receive almost no cancellation interest. It is an opportunity to receive government contributions just by maintaining an installment savings account.
2. Loan utilization
It may be a bit risky, but the interest rate of the Youth Leap Account is much higher than the interest rate of 1 financial sector loans. So, if you need money urgently, using safe and reasonable loans from the 1st financial sector is leverage.
3. Reducing other installment savings
If you are maintaining other installment savings, it is a good idea to reduce the amount of those savings or compare the interest rates and deposit them in the best place. I’ve looked for all installment savings on the market, but the Youth Leap Installment Savings pays the highest interest.
4. Direct debit
It is an automatic transfer method with a lot of compulsion. It’s a way to change your environment without money to begin with. It is also a method that many people recommend to make it possible to transfer money as soon as your salary comes in.
Curiosities
1. Is it possible to work part-time?
Yes, part-time job is also possible. It is aimed at people with income, so all young people who are working part-time or have personal income are eligible. It is possible if you prove that you are paying employment insurance. You can check this directly with the IRS.
<Click to go to the National Tax Service>
Income declaration is filed once a year in May, so if your income for the previous year has not been confirmed, you can sign up after it has been confirmed.
2. Can I receive it at the same time as other government financial products?
Even young people who have subscribed to existing support products can sign up simultaneously or sequentially with similar products so that they can receive maximum asset formation support. In particular, since this is a support for young people with low income and lack of assets, we will proceed to receive as much as possible.
However, it cannot be done at the same time as Youth Hope Savings Savings.
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
3. Will I continue to receive income-based assistance when I enroll? Do you have an income review?
The Youth Leap Account is a mid- to long-term product with a maturity of 5 years. Therefore, the individual’s income is checked every year from the date of joining. Based on this, we plan to check whether it is maintained. At this time, reasons unrelated to the subscriber’s personal income, such as changes in household members (divorce, separation, death, etc.), are not subject to review. Therefore, only personal income is checked, and then whether or not government contributions are paid and the amount are adjusted.
If, as a result of the maintenance review, the personal income exceeds KRW 60 million, the government contribution payment will be suspended until the next maintenance review. If your personal income is less than KRW 60 million in the next maintenance review, the government contribution will be repaid until the maintenance review. The tax exemption is maintained until maturity, provided that the individual household income requirements are met at the time of enrollment.
4. What happens when I get older after joining the Youth Leap Account?
Since you meet the age requirement at the time of sign-up, you can maintain your account unless you cancel it in the middle.
5. What happens to the benefits if I do not complete the 5-year maturity period and terminate the contract early?
If the reason for termination falls under the special early termination requirements, government contributions are paid in addition to the user’s payment, and tax exemption benefits may also be applied.
※ Special midterm termination requirements
1. Subscriber’s death and overseas migration
2. Subscriber retirement
3. Business closure
4. Natural Disaster
5. Diseases requiring long-term treatment
6. Buying your first home
However, in the case of general early termination, only the portion paid by the person in question is paid, and government contributions and tax-free benefits are not available.
Finally, a detailed summary video of the Youth Leap Account. It is explained in an easy way, so please refer to it and do not miss a good opportunity
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account
Youth Leap Account