Converting Housing Subscription Deposit, Installment, and Savings Accounts: No Need to Rush by September 30… Deadline Extended Through 2027 and Rules for Recognizing Previous Membe
As of 2026-09-29, the deadline for converting housing subscription deposit, installment, and savings accounts into comprehensive housing subscription savings accounts has been extended by 1 years to 2027-09-30. Therefore, account holders are no longer required to complete the conversion by the previously announced deadline of 2026-09-30.
However, previous membership periods and payment records do not carry over equally for both public housing and private housing. The basic principle is that previous records are recognized for housing types that were already eligible under the original account, while records for newly eligible housing types begin accumulating only after conversion.
2026-09-30 Is Not the Final Deadline
The program allowing existing housing subscription savings products to be converted into comprehensive housing subscription savings accounts took effect on October 2024.
Housing subscription deposit and installment accounts could be used to apply for private housing, while housing subscription savings accounts could be used to apply for public housing. Converting to a comprehensive housing subscription savings account makes the account eligible for applications to both public and private housing.
The original conversion deadline was 2026-09-30, but the Ministry of Land, Infrastructure and Transport announced on 2026-09-23 that it would extend the deadline by 1 years to 2027-09-30.
As a result, account holders no longer need to rush to complete the conversion before 2026-09-30 simply because they have not yet converted their accounts.
However, anyone planning to apply for a specific housing development should not consider only the overall conversion deadline. Eligibility may depend on when the conversion takes place relative to the resident recruitment announcement date or the housing application submission date.
Housing Subscription Deposit and Installment Accounts Retain Their Previous Membership Periods for Private Housing
When a housing subscription deposit or installment account is converted into a comprehensive housing subscription savings account, the previous account's membership period is included when calculating eligibility for general allocation of private housing. The full amount previously deposited is also recognized.
The rules are different for public housing, which becomes newly accessible through conversion. For public housing, the membership period is calculated from the conversion date. Similarly, the number and amount of recognized payments used for public housing applications are not calculated by retroactively treating the converted principal as previous payment records.
For example, maintaining a housing subscription deposit account for many years does not mean that the entire previous membership period becomes eligible membership time for public housing applications after conversion.
In other words, holders of housing subscription deposit and installment accounts should distinguish between the following categories.
Private Housing → Previous Membership Period and Existing Deposits Recognized; Public Housing → Membership Period and Payment Records Accumulate After Conversion
Housing Subscription Savings Accounts, Conversely, Retain Their Previous Public Housing Records
When a housing subscription savings account is converted into a comprehensive housing subscription savings account, the previous membership period is included when calculating eligibility for general allocation of public housing. The previously recognized number of payments and payment amounts are also retained.
Conversely, for private housing, which becomes newly accessible through conversion, the previous membership period of the housing subscription savings account is not included. Instead, the membership period is calculated from the conversion date.
For general allocation of private housing, the entire amount previously deposited in the housing subscription savings account is recognized.
Therefore, holders of housing subscription savings accounts fall into the following categories.
Public Housing → Previous Membership Period and Recognized Payment Count and Amounts Retained; Private Housing → Previous Deposits Recognized, but Membership Period Calculated From Conversion Date
Ultimately, account holders should not make decisions based solely on the statement that 'previous membership periods are recognized.' They must also consider which type of account is being converted and whether the relevant subscription record concerns public or private housing.
Recognition of Previous Membership Periods for Interest Rates Is Different From Recognition of Housing Subscription Records
There is another aspect of the deadline extension announcement that could easily cause confusion. The membership period used to determine housing application eligibility and records must be considered separately from the membership period used to calculate interest rates on comprehensive housing subscription savings accounts.
Currently, interest rates on comprehensive housing subscription savings accounts range from 2.3 to 3.1% annually, depending on the membership period. The annual interest rate for accounts held for 2 years or longer is 3.1%.
Previously, when an existing housing subscription account was converted into a comprehensive housing subscription savings account, the interest rate was determined based on the membership period after conversion.
Alongside the extension of the conversion deadline, the Ministry of Land, Infrastructure and Transport announced that it plans to revise the system so that membership periods under previous housing subscription accounts are also recognized when calculating interest rates. Accordingly, once the relevant changes take effect, subscribers who maintained their previous accounts for 2 years or longer will be eligible for the interest rate applicable to the 2-year-or-longer category immediately after conversion.
However, as of 2026-09-29, this remains an announced policy change. The ministry has indicated that it plans to implement the change starting next month after revising the relevant administrative notice.
Therefore, the latest announcement that 'previous membership periods will be recognized' must be understood in two separate ways.
For housing subscription records, previous records carry over for housing types that were already eligible under the original account. For interest rates, the system is expected to change so that membership periods under previous accounts will also count toward the period used to calculate interest rates.
When Deciding Whether to Convert Now, Prioritize Your Housing Application Plans Over September 30
Although the conversion deadline has been extended to 2027-09-30, indefinitely postponing conversion may not be appropriate for those preparing to apply for housing.
When converting a housing subscription deposit or installment account, the previous membership period is recognized for private housing, but records for newly eligible public housing begin accumulating only after conversion.
Holders of housing subscription savings accounts retain their previous membership periods and recognized payment records for public housing. However, the membership period for newly eligible private housing is calculated from the conversion date.
Therefore, the significance of the conversion date depends on whether the account holder is likely to apply for public housing, private housing, or both in the future.
In addition, anyone intending to apply for a specific property using a comprehensive housing subscription savings account after conversion should check the property's resident recruitment announcement date and application schedule. Separate rules concerning application schedules and conversion timing may apply to housing subscription deposit and installment accounts.
The extension of the overall conversion deadline and the deadline by which an account must be converted to qualify for a particular housing development are two different matters.
What if Your Bank's Information Still Lists 2026-09-30?
As of 2026-09-29, some banks' existing product information pages still display 2026-09-30 as the conversion deadline.
However, the Ministry of Land, Infrastructure and Transport announced on 2026-09-23 that the conversion deadline would be extended to 2027-09-30.
Therefore, rather than assuming that 2026-09-30 is the final deadline based solely on an outdated date displayed on a bank's website, account holders should confirm the latest applicable rules with the bank handling their conversion application.
In particular, anyone planning to apply for housing immediately should check the account type, resident recruitment announcement date, first application submission date, and conversion date together.
Although the conversion deadline has been extended by 1 years, that does not mean previous records will also be recognized for housing types that become newly eligible after conversion. The most important distinction when reviewing individual housing application plans is that housing subscription deposit and installment accounts retain their previous membership periods for private housing, while housing subscription savings accounts retain their previous membership periods and recognized payment records for public housing.
Related Articles
Can the iPhone Duo Really Not Use a Physical SIM Card at All?