Youth Future Savings Account Applications Open to All Birth Years Starting on the 29th

For individuals aged 19 to 34: Up to 500,000 won monthly deposit
Earn interest benefits equivalent to an annual rate of up to 19.4%

The Financial Services Commission announced on the 28th that applications for the Youth Future Savings Account will be accepted from the 29th of June to July 3rd, regardless of the applicant's year of birth.

On the first day of enrollment for the Youth Future Savings Account on the 22nd, Eokwon Lee, Chairman of the Financial Services Commission, is distributing coffee to young people commuting to work and promoting the savings product in Seongsu-dong, Seongdong-gu, Seoul. 2026.06.22 Photo by Dongju Yoon

The Youth Future Savings Account is a three-year, open-end installment savings product created to support asset building for young people aged 19 to 34. Participants can freely deposit up to 500,000 won per month, and the account remains active even if a deposit is skipped. The government supports a matching contribution of 6% for the standard type and 12% for the preferential type, based on the participant's deposits. Interest income tax is also exempted.

The Financial Services Commission explained that, considering the interest rate, government matching contributions, and tax exemption benefits, the standard type offers a return comparable to a simple interest savings product with an annual yield of 13.2% to 14.4%, while the preferential type offers a return comparable to 18.2% to 19.4% per year.

Applications can be submitted non-face-to-face through the mobile applications of the participating institutions, including Kookmin Bank, NongHyup Bank, Shinhan Bank, Woori Bank, Hana Bank, KB Kookmin Bank, iM Bank, Busan Bank, Kyongnam Bank, Gwangju Bank, Jeonbuk Bank, Suhyup Bank, KakaoBank, and Korea Post, from 9:00 a.m. to 6:30 p.m.

Applicants must be young people aged 19 to 34 who meet specified income or revenue requirements. For this round of recruitment, those born between January 1, 1991, and August 7, 2007, are eligible to apply. For those who have fulfilled mandatory military service, the period of service (up to six years) is excluded from the age calculation.

The Financial Services Commission particularly emphasized that those born between August 8 and December 31, 1991—who will turn 35 between now and the next round of applications scheduled for December this year—will have limited additional opportunities to enroll. Therefore, they should not miss this application period.

Eligibility review will be conducted based on last year's income. Even if an application is submitted before July 1, 2026—the official income confirmation date for this year—all applications will be considered as submitted on July 1 and will be reviewed based on last year's income.

Incumbent employees or new hires at small and medium-sized enterprises, as well as small business owners who meet certain requirements, can enroll in the preferential type with a 12% government matching rate. After the application period ends, income and eligibility will be screened for about three weeks from July 6 to July 24. The Korea Inclusive Finance Agency will individually notify applicants of the screening results on July 24.

Applicants who pass the screening can open their account between July 27 and August 7, and after opening the account, they are free to make deposits at their discretion.

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