you've probably looked at your savings account contributions and wondered, "Is it worth it to keep putting money in there?" In fact, with nearly half a million people closing their savings accounts over the past year, this question is becoming more common. but closing a savingsaccounttoo soon can lead to bigger regrets later. in today's post, we'll give you the inside scoop on the real value and uses ofkeepingasubscription boxbeyond the odds of winning.

closing a subscription box is not for everyone

sky-high sale prices

the number one reason for canceling a subscription account is steeply rising prices. according to Housing and Urban Guarantee Corporation (HUG) statistics, the average selling price of a private apartment in Seoul exceeded KRW 46.84 million per 3.3 square meters as of August 2025, nearly doubling from just five years ago. with the price of an exclusive 84-square-meter apartment, known as Kookmin Equilibrium, exceeding 1.5 billion won, winning the lottery is starting to feel less like a lottery and more like a rice cake. Add to that stricter lending regulations, and even those who do win are struggling to come up with enough money for a down payment.

winning the lottery

the threshold for winning the subscription has also increased ,and even a family of four with a perfect score is no longer guaranteed a place in a popular complex in Seoul. skepticism aboutthe necessity ofsubscriptionpassbooksis growing as it is recognized that winning a subscription is virtually impossible for one- or two-person households with a short housing tenure and few dependents, as well as for first-time buyers. as a result, many people are choosing tocancel their savings accounts.

why keep them?

however, experts are unanimous in their recommendation tokeepsavings accounts - the potential value of savings accounts is too great to close them based on the possibility of winning an offer.

case in point - savings rates are better than savings

the first thing to note is theinterest rateon savings accounts . the government has been steadily raising the interest rates to make them more attractive, and the current rate for a general housing contract savings account is 3.1% per annum for two years or more, which is competitive with high street savings accounts.

especially if you are a young adult aged 19 to 34, you should not miss theYouth Housing Dream Savings Account. it's open to all young adults with an annual income of 50 million won or less, and offers an attractive interest rate of up to **4.5% per annum**. that's higher than any other savings product on the market today. more than just a savings vehicle, it can be a powerful wealth-building tool.

time is money: a can't-miss sign-up window

the 'enrollment period' accounts for 17 points in the subscriptionaccountscoring system that can make or break a private housing subscription. while the number of dependents and the length of time you've been home free can fluctuate over the course of your life, the length of time you've been a member is the one point that only time can fix. keeping yoursavings account openfor 15 years or more is enough to earn you a full 17 points. if you close now, you'll lose all that precious time and have to start at square one. You're giving up your most powerful weapon - your tenure - for a homeownership opportunity that could come at any moment.

smart Savings, Tax Deductions at the End of the Year

keepinga savings account is also a great tax-saving strategy. If you are a homeowner with a gross salary of 70 million won or less, you can get atax deductionof 40% of your annual contribution, up to a maximum of 1.2 million won, within the limit of 3 million won. recently, the monthly payment amount for public housing was increased to 250,000 won, which means that if you pay 250,000 won per month, you can get exactly 300,000 won per year. this is a great way to prepare for the subscription and save money at the same time.

use 'this' instead of canceling when in a hurry

savings account mortgage, a hidden emergency fund

when you're in a pinch, it's tempting tocloseyour savings account , but this should be a last resort. Instead, consider asavingsaccountsecurity loan. you can borrow up to 95% of your savings, with interest rates as low as 2% APR. it's a much better deal than a credit or card loan, and best of all, you'll keep all the benefits of your savings account, including the term, number of payments, and priority status. if you cancel, you lose everything, but a secured loan is a smart way to get liquidity while keeping everything.

public vs. private, which payment strategy is right for you?

some people feel intimidated by the amount of money they have to pay into a subscription box. you don't necessarily have to pay 250,000 won per month. It's important to have a strategy based on your goals.

  • if your goal is tosubscribe to a public offering: the number of payments and the total amount are important, so it is advantageous to pay as much as possible to reach the monthly allowance (250,000 won).

  • if you are aimingfor private sales: you only need to meet the deposit threshold by area and region. the key is to keep your subscription period longer than the amount you pay each month. you can pay the minimum amount (20,000 won) to build up your subscription period, and then make a single deposit before the opening date of the apartment you want to apply for to get first priority.

frequently asked questions (FAQs) about maintaining a subscription account

Q1. I'm in my early 20s, does it make sense to start a savings account now? A . Yes, the sooner the better, especially the Youth Housing Dream Savings Account, which offers a high interest rate of 4.5% per annum, tax-free and tax-deductible benefits, as well as an ultra-low-interest loan (Youth Housing Dream Loan) if you win the lottery. Even if you don't win the lottery, it can be your best financial tool, so it's worth signing up as soon as possible.

Q2. Should I cancel my account if I can't afford to pay 250,000 won per month? A . Absolutely not. the 250,000 won is only a 'recommended' amount to maximize your chances of winning a public housing allotment and benefit from the tax deduction, not a 'mandatory' amount. You can pay as little as 20,000 won per month and still be eligible for thesubscriptionperiod, so it's much smarter to pay less if you can afford it.

Q3. I need money in a hurry, is there any other option besides canceling? A . You can use a 'subscription box mortgage'. you can borrow up to 95% of your deposit at a low interest rate, and you'll keep all your benefits, including your enrollment period and priority status. while termination results in irreparable losses, a secured loan is the best way to solve current problems while preserving future opportunities.

Q4. Can I convert my existing regular savings account to the Youth Housing Dream Savings Account? A . Yes, if you meet the eligibility requirements (age 19 to 34, annual income of 50 million won or less, and no homeowner), you can convert. your existing subscription period, number of payments, and amount will be recognized, so you will not be penalized when calculating points. However, the preferential interest rate of 4.5% and interest income tax exemption will be applied to your payments after conversion.

bottom line: Your savings account is a 'seed'

key takeaway: a savings account can be a great financial product even if you don't win the lottery.

it's easy to get burned out and give up on a savings account if you think of it as a tool for a single outcome - winning an apartment. but if you expand your horizons, a savings account is a jack-of-all-trades for high-interest savings, tax savings, and even low-interest borrowing.

your savings account is not a lottery ticket that you scratch and throw away. It's a "seed" that needs to be watered and fertilized to grow into a full and fruitful harvest. Don't let theharshrealities of today's world get in the way of future opportunities.

what are your thoughts onkeepingasavings account? feel free to share your thoughts in the comments! If you found this article helpful, please like, subscribe, and sign up for our newsletter.