Korean Youth Housing Dream Savings Account Interest Calculator
Compare after-tax interest on a standard vs. youth-preferential housing savings account
Enter your monthly deposit, savings term, and interest rates, and this calculator works out the simple interest on both a standard Korean housing subscription savings account and the Youth Housing Dream (youth-preferential) version, showing the after-tax difference between them. It's aimed at young workers in Korea who are weighing whether the youth-preferential account is worth opening and want to see how much more they'd actually take home. Every calculation runs in your browser, so the figures you enter never leave your device.
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How to use
- Enter your agreed monthly deposit in Korean won.
- Enter the savings term in months — up to 120 months.
- Enter the interest rate for the standard account and the youth-preferential account (defaults are 2.8% and 4.3%).
- See the total extra after-tax interest you'd gain by switching to the youth-preferential account, plus the after-tax interest for each, right at the top.
FAQ
- How is the interest calculated?
- It's calculated like a regular installment savings plan: each monthly deposit earns simple interest for the number of months remaining in the term. The standard account has the full 15.4% Korean interest income tax applied, while the youth-preferential account is tax-exempt on the first 5 million won of interest, with only the excess taxed at 15.4%.
- Can I change the rates or the tax-exempt cap myself?
- You can edit the interest rate fields freely to simulate updated product terms or the specific rate you qualify for. The 5 million won tax-exempt cap and the 15.4% tax rate, however, are fixed in the formula.
- Does it tell me the actual eligibility requirements?
- The bottom of the page outlines the general eligibility criteria for the Youth Housing Dream account — annual income of 50 million won or less, ages 19 to 34, and so on — but always confirm the current terms with your bank or the relevant Korean agency.