Non-banking financial institutions mainly have deposit products that offer higher interest rates than non-banking institutions. For the same rate, most of the funds are concentrated in non-banking institutions, so non-banking institutions should also be considered. With the increase of savings banks managed by large corporations, safety has been improved. Therefore, mutual finance and savings bank products are also subject to consideration. This article introduces the interest rates and subscription methods for the “Cheongdo Youth Savings Bank” provided by Shinhan Savings Bank of Shinhan Financial Group.
an easy table of contents
Subject to membership
Subscription period
Subscription amount jasminevista.com
Deposit subject
How to save money
Interest payment method
tax-free
How to sign up
Termination method
tax incentives
Subject to membership
19-39 year old individual (Korean, based on date of birth)
Subscription period 
6 to 12 months (monthly)
Subscription amount
Within KRW 10,000 to KRW 300,000 monthly payment (in KRW units)
Deposit subject
installment savings
How to save money
a regular monthly accumulation ceremony
Interest payment method
Expiration Date Payment
tax-free
– All financial institutions can be subscribed to comprehensive non-taxable savings within the integrated limit
– Interest after maturity is taxed, and the tax rate may change when the relevant laws are revised.
How to sign up
– Internet homepage, mobile app
Termination method
Internet homepages, mobile apps, and branch visits (but fees may incur)
tax incentives
– Non-taxable comprehensive savings can be subscribed: Within KRW 50 million per person, including all financial institutions
– Persons eligible for membership: Residents aged 65 or older, persons with disabilities registered under the Welfare of Persons with Disabilities Act, persons with independence and their bereaved families, persons of national merit, recipients of basic living security, patients with post-defoliants, and persons injured in the 5.18 Democratization Movement
※ If you are eligible for comprehensive financial income taxation at least once within the taxable period for the previous three years (including automatic re-deposit) from the subscription (including automatic re-deposit), you will be excluded from the subscription through subsequent verification, and may then be converted to general taxation in accordance with the procedures prescribed by relevant laws and regulations
※ If the relevant tax laws are amended, the tax rate may change or be taxed
※ Interest after the expiration of the contract period is taxed
Today, we learned about Shinhan Savings Bank’s green grape youth savings products. I hope it was helpful to those who needed it.