The bank announced that the 'KB Youth Future Savings' will be launched on June 22.
This savings plan is available to individuals aged 19 to 34 who meet income requirements, offering a three-year term with flexible contributions. Participants can deposit up to 500,000 won per month, benefiting from government contributions and tax exemptions on interest income. Only one account can be opened per person across all financial institutions.
The base interest rate for the KB Youth Future Savings is 5.0% per year, with an additional preferential rate of up to 3.0 percentage points available based on transaction conditions. This means participants can expect a maximum interest rate of 8.0%.
The preferential rates include 1.0% for salary transfers, 0.8% for withdrawal activity, 0.5% for transaction audits, 0.5% for income plus, and 0.2% for completing youth financial counseling.
Applications will be accepted through the 'KB Star Banking' app from June 22 to July 3. Following a qualification check by the Korea Financial Services Agency, account openings will officially take place from July 27 to August 7.
For those switching from the Youth Leap Account, deposits can begin the day after the special early termination of that account. While overlapping subscriptions to the Youth Leap Account and Youth Future Savings are generally not allowed, switching is permitted during the initial subscription period. Participants can receive a refund without loss if they terminate the Youth Leap Account early.
A representative from KB Kookmin Bank stated, "The KB Youth Future Savings is designed as a policy financial product to help young people who are taking their first steps into society build their assets steadily. We will continue to expand financial services that alleviate the financial burden on youth and provide practical support."
* This article has been translated by AI.
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