Up to 22.55 million won with 500,000 won monthly deposits for 3 years… Second round of Youth Future Savings Account applications begins

The second round of applications for the 'Youth Future Savings Account', operated by the government to support young people in building large sums of money, is beginning. This second recruitment follows the schedule after 138,500 people joined during the first recruitment last June.

Monthly deposits up to 500,000 won; high returns when including government contributions

The Youth Future Savings Account is a flexible installment product where you can freely deposit up to 500,000 won every month for 3 years. According to the video description and the presenter's explanation, if 500,000 won is deposited monthly for 3 years, the principal is 18 million won. Adding a base interest rate of 5% and preferential interest rates by institution (2–3%), a rate of up to 7–8% is applied, and government contributions and tax-free benefits on interest income are added.

Looking at specific figures, in the case of the General Type, up to 21.38 million won can be received, and in the case of the Preferential Type, up to 22.55 million won can be received. The Preferential Type receives a government contribution of 12%, which is higher than the General Type. The presenter explained that when converted to simple interest, the effect is up to 14.4% for the General Type and up to 19.4% for the Preferential Type.

Applications open from October 7… Precautions for 'Youth Leap Account' users

The second application period is from Wednesday, October 7, 2026, to Friday, October 16, 2026. During the initial application period on the 7th and 8th, an odd-even system based on the last digit of the birth year (7th for odd, 8th for even) will be applied, and from the 12th to the 16th, all young people can apply. The eligible applicants are young people born between November 17, 1991, and November 27, 2007. However, those serving in the military can have their service period recognized for up to an additional 6 years to relax the age limit.

Caution is required if existing 'Youth Leap Account' holders wish to switch to the Youth Future Savings Account. The presenter emphasized that they must not cancel the Youth Leap Account first. They must first apply for the Youth Future Savings Account, pass the screening, and open the account, and then perform a special mid-term cancellation of the Youth Leap Account themselves within the account opening period (November 16–27) to maintain the benefits.

Pre-application checklist including household member consent and income verification

Key matters to check for successful enrollment were guided. First, if employees of small and medium-sized enterprises or small business owners want the Preferential Type, they must select the corresponding item themselves when applying. Also, for household income screening, consent for income verification of household members such as spouses, parents, children, and minor siblings on the resident registration certificate is essential. A link for household member consent will be sent via KakaoTalk notification talk or text messages guided by the Korea Inclusive Finance Agency, so this must be checked.

Regarding income requirements, if one received parental leave benefits or military personnel pay in 2025, it is recognized as tax-free income, making enrollment possible. However, in this case, submission of separate supporting documents may be required. Meanwhile, according to the amendment scheduled to be implemented from 2027, the income requirement for the General Type will be abolished and contributions will be expanded. The presenter added that these amendment benefits will also be applied retroactively to those who join in 2026.

Applications can be made non-face-to-face through the apps of handling institutions such as Dong-yeop, Shinhan, Woori, Hana, IBK, KB, Suhyup, iM Bank, Busan, Gwangju, Jeonbuk, Gyeongnam, KakaoBank, and Korea Post. For more details, inquiries can be made through the Korea Inclusive Finance Agency Youth Finance Call Center (extension 1397).