Deadline for converting to a comprehensive housing subscription savings account extended by one year until September next year
Take advantage of the extended conversion deadline for subscription deposits and expand the benefits of the comprehensive housing subscription savings account Check the up to 3.1% annual interest rate and expanded subscription scope now at your bank or app
The deadline for converting a subscription savings account, installment savings account, or savings account into a Housing Subscription Comprehensive Savings account will be extended by one more year, until September 30 next year. The Ministry of Land, Infrastructure and Transport announced on the 23rd that this measure is intended to broaden options for existing subscribers and improve interest rate benefits.
With this revision, the existing account's subscription period will also be reflected in the interest rate calculation. Accordingly, if the requirements are met, the maximum annual interest rate of 3.1% can be applied immediately after conversion. Until now, after conversion, only the subscription period for the comprehensive savings account was counted, so one had to wait two years to receive the highest interest rate.
After converting to a Housing Subscription Comprehensive Savings account, you can apply for both national housing and private housing. For the types that could be applied for with the existing account, the previous subscription period and payment history will be recognized, but for the types for which eligibility is newly obtained through conversion, only the performance after conversion will be reflected.
Applications for conversion can be made at a branch of the subscribing bank or through its mobile app. The Ministry of Land, Infrastructure and Transport plans to revise the relevant notice in October and implement the system.