Today, we would like to learn about the Double Hope Youth Passbook operated by the Seoul Metropolitan Government. This policy was created to support young people and help them live better lives. Let’s take a closer look at this in detail.
1. What is the 2024 Seoul City Hope Double Youth Account?
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Application qualifications
In 2024, the city of Seoul plans to provide the ‘Double Hope Youth Account’ as a new system to support the hopes and challenges of young people. This time, we will take a closer look at the Seoul City Double Hope Youth Account in 2023.
As the name suggests, the Seoul City Hope Double Youth Passbook is a system that supports the hopes and challenges of young people. For young people who are just starting their lives as young adults, this system provides a variety of benefits with a legal basis. At this time, this will be done through the ‘Hope Double Deposit/Savings’ concept of an asset management type deposit launched by the Seoul Deposit Insurance Corporation.
The features of the Hope Double Youth Passbook are as follows.
maximum interest rate
If you save cash in your bank account, you will be paid interest of up to 2.3%. Young people can expect high interest rates compared to much lower interest rates.
subsidy
If you sign up for this account, you will receive a subsidy of 300,000 won to commemorate your membership. In addition, an additional subsidy of 20,000 won is provided when the “U+ Seoul Check Card” is issued.
Other benefits
Free admission to various events in Seoul, such as cultural events, film festivals, and sports competitions, is also provided.
Here’s how young people use the Hope Double Youth Account. First of all, we will open it at a bank in charge of deposits and savings in Seoul. The bank explains the account to young people, and the opening is completed after submitting the necessary documents, such as an ID card. After saving a certain amount for at least 6 months and up to 10 years, young people will be able to receive designated benefits.
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Apply
2. Application period and conditions
The first application period runs from January 2 to January 31, 2023, and the second application period runs in the second half of 2023. In other words, we plan to proceed with the plan to open a Hope Double youth bank account at intervals of 1 to 2 years. It is good to note that the youth bank account was opened in January last year as well.
Application conditions
Young people who are permanent users and residents and are between 18 years old (the year they turn 17 years old) and 34 years old (the year they turn 35 years old) or younger can apply. When signing up for a new youth bank account at a bank, it is an unlimited maturity date that can be used by signing up for both deposit and savings products at the same time. You do not need to sign up for both deposit and savings products. Therefore, there are no conditions for signing up for a savings account, and Seoul Mayor Koo Ja-cheol expressed confidence, saying, “The ‘Hope Double Youth Account’ is an independent system that all young people can sign up for.”
In addition, currently individual workers and self-employed individuals cannot sign up for the Hope Double deposit/savings account, but we plan to improve this in the future through continuous feedback and service improvement. In addition, some special cases such as social workers, legal facilities, public utility bill arrears, and loan users are allowed to sign up, and rural and fishing villages can also sign up for the ‘Village Geumgo Hope Double Deposit’.
Young people can easily sign up for the bank account if they meet the above conditions, so we encourage many young people to apply now.
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Support amount
3. How to apply
This time, we will take a closer look at how to apply for such a bank account.
1. Apply by visiting the bank
Hope Double Youth Account can be opened at any bank in Seoul. Therefore, if young people want to open a Hope Double youth bank account, they can visit a nearby bank and submit an application for the bank account.
2. Application using internet banking
For the Hope Double Youth Passbook, you can apply using internet banking. You can submit contract procedures and opening application forms with the bank through internet banking.
3. Use the Passbook mobile support app
You can apply for a Hope Double youth account using the mobile application of a bank located in Seoul. By using the application, you can easily check available deposit products, subscription conditions, and subscription procedures.
The above methods are how to apply for the Hope Double Youth Account. Young people can easily apply to open a bank account in three ways: visiting the bank, internet banking, and using the bank account mobile app, and we encourage them to actively participate.
If you actively use the Hope Double Youth Passbook, you can use the cultural, functional, and history-related events within Seoul for free, or receive useful information such as Seoul youth news. Therefore, it is one of the bank accounts recommended for young people.
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Preparation documents
4. Finishing
Today, we learned about the Hope Double youth bank account. To improve the quality of life of young people, the government is implementing various subsidies and bank account systems. Please be aware of the eligibility conditions and application method, and if you are eligible, please apply and receive the benefits.