KB Kookmin Bank Launches "KB Youth Future Savings" Offering Up to 8.0% Annual Interest

Supporting Youth Asset Building with Tax Exemption Benefits
Prize Draw Event Worth 1.4 Billion Won Until August 7

KB Kookmin Bank announced on June 21 that it will launch the "KB Youth Future Savings" account on June 22 to support young people in building stable assets and preparing for their future.

The KB Youth Future Savings is a policy finance product for young people aged between 19 and 34 who meet certain income requirements. This three-year maturity installment savings account allows participants to make flexible monthly contributions of up to 500,000 won. In addition to interest earned on deposits, it provides government contributions and tax exemption on interest income, helping young people effectively save a lump sum. Only one account per person is allowed across all financial institutions.

The base interest rate for the KB Youth Future Savings is 5.0% per annum. Depending on transaction conditions, a preferential interest rate of up to an additional 3.0 percentage points can be applied, offering a maximum annual interest rate of 8.0%.

The preferential interest rates are comprised of five categories: ▲ 1.0 percentage point per annum for salary transfers ▲ 0.8 percentage points per annum for withdrawal performance ▲ 0.5 percentage points per annum for transaction appreciation ▲ 0.5 percentage points per annum for Income Plus ▲ 0.2 percentage points per annum for completing youth financial counseling.

Applications can be submitted via KB Financial Group's KB Star Banking app from the following day until the 3rd of the next month. Once eligibility is confirmed by the Korea Inclusive Finance Agency, accounts can be opened from the 27th of the next month through August 7. During this period, customers can switch from their existing Youth Leap Account to the Youth Future Savings. Even if the Youth Leap Account is closed early for this reason, the previously agreed base and preferential interest rates will still be applied, allowing customers to retain existing benefits.

Meanwhile, to commemorate the launch of the KB Youth Future Savings, KB Kookmin Bank will hold a "Lucky Draw Entry Event" from the following day until August 7. Customers who complete registration for the KB Youth Future Savings and set up an automatic transfer of at least 100,000 won from their KB Kookmin Bank deposit account will be eligible to win a variety of prizes worth a total of 1.4 billion won, including 10 million won in cash, a home appliance package, a home office package, Signiel Seoul accommodation vouchers, and a Four Leaf Clover gold bar.

Customers who, as of last month, did not hold any KB Kookmin Bank time deposit or installment savings accounts and newly enroll in the KB Youth Future Savings as well as set up an automatic transfer of at least 100,000 won from their KB Kookmin Bank deposit account will also be eligible for a 30,000 won cashback savings encouragement reward, given to 3,000 winners selected by lottery.

A representative from KB Kookmin Bank stated, "The Youth Future Savings is a policy finance product designed to help young people build assets in a stable way," adding, "We will continue to provide a variety of financial services that reduce the financial burden on young customers and support them in building real assets."

This content was produced with the assistance of AI translation services.