'Up to 9.54% Annual Interest' Youth Leap Account Applications Open Until the 17th of Next Month

Published 29 Sep.2025 15:58(KST)

Yonhap News Agency

The Korea Inclusive Finance Agency announced on September 29 that applications for the Youth Leap Account will be accepted from October 1 to 17.

The Youth Leap Account can be applied for each month through the mobile apps of the following banks: KB Kookmin, Shinhan, Hana, Woori, NongHyup, IBK, Busan, iM, Gwangju, Jeonbuk, and Gyeongnam. Applicants must complete the eligibility process to open an account.

For single-person households notified as eligible this time, accounts can be opened from October 23 to November 14. For households with two or more members, accounts can be opened from November 3 to November 14 (business days only). The application process for the Youth Leap Account will not be available on public holidays, such as National Foundation Day and the Chuseok holiday.

The Youth Leap Account is a savings product designed to support young people in building mid- to long-term assets. Participants can make flexible monthly deposits of up to 700,000 won for five years, and the government will provide additional contributions on monthly deposits.

When the account matures, the combined benefits-including bank interest, government contributions, and tax exemptions-are equivalent to an annual interest rate of up to 9.54%, based on a five-year period, an annual personal income of 24 million won or less, an interest rate of 6.0%, and a monthly deposit of 700,000 won.

During the September application period, a total of 98,000 people applied, bringing the cumulative number of applicants to 3,588,000. As of September 26, a cumulative total of 2,375,000 accounts had been opened.

The Youth Leap Account will no longer accept new applications after the final application period in December this year. However, young people who enroll before the deadline will continue to receive benefits for five years from the date of account opening until maturity.