Hello Today, I’m going to learn about the ‘youth leap account’ that can receive up to 50 million won if you pay for 5 years.
The ‘Youth Leap Account’, which gives money by adding the contributions contributed by the government to the amount paid by the person, is truly a dog honey. If you are a person who meets the qualifications, please read the information below carefully before applying in June.
Conditions for joining the Youth Leap Account
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1. Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Young people between the ages of 19 and 34 can sign up, and their total salary for one year must be less than KRW 75 million. In addition, only households whose income is less than 180% of the median income are eligible for enrollment. For reference, in the case of men, the period of military service is deducted from the calculation of age.
(Up to the age of 40 when performing military service (excluding 6 years))
And you must be a young man with work or business income. The unemployed cannot join. Also, if you have a job that is covered by the 4 insurances at the time of signing up for the Youth Leap Account, those who are working part-time can also sign up.
The median income here refers to the income of a household that falls in the middle of the income ranking of all households. Please refer to the table below for an income level of 180% of the median household income.
※ As of 2023, median income by number of household members ※
standard
Median Income % Households of 1 Households of 2 Households of 3 Households of 4 Households of 5 Households of 6
180% 3,740,206 6,221,079 7,982,669 9,721,735 11,395,238 13,010,366
2. Advantages of Youth Leap Account <Government Contribution>
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
The advantage of the Youth Leap Account is that government contributions are added to your payments. Subscribers can freely pay monthly from the minimum amount of 400,000 won to the maximum of 700,000 won. Also, the maturity of the product is 5 years.
In general, when you sign up for savings or deposits in commercial banks, you receive interest, but for youth leap accounts, interest + government contributions are added. If the income is low, the government contribution is also thicker.
Conditions for joining the Youth Leap Account
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Looking at the table above, the lower the gross salary, the higher the grant matching ratio.
If you pay 700,000 won per month, if your personal income is less than 24 million won, you will be subject to the monthly contribution limit of 400,000 won. In case of less than 36 million won, it takes 500,000 won, in case of less than 48 million won, 600,000 won, and in case of less than 60 million won, the limit is set at 700,000 won. And in the case of KRW 75 million, the contribution limit is zero.
==> In other words, if your personal income is less than 24 million won, you can receive a contribution of 400,000 won.
=>400,000* 6% (contribution matching rate) =24,000 (maximum monthly contribution)
When paid for 5 years: 24,000 * 12 months * 5 years => 1,440,000 (governmental contribution)
You will receive an additional $1,440,000 in government contributions minus interest.
Then, if you pay 700,000 won per month for 5 years, how much money will you receive at maturity?
Learn more about Youth Leap Account benefits ☞
Go to Youth Leap Account Homepage
3. Advantages of Youth Leap Account <Tax exemption benefits>
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Conditions for joining the Youth Leap Account
Interest on Youth Leap Account can be tax-free. In addition, it is said that a fixed rate is applied for up to 3 years after signing up, and a variable rate is applied for the next 2 years. The interest rate level has not yet been finalized and will be confirmed soon.