Today’s summary is a new policy for low-credit and low-income people, launched by the government,
It is the content of “Sunshine Loan”.
The Financial Services Commission provides support for low-credit and low-income people to settle down in the banking sector using the product.
It is said that this is the reason why Sunshine Loon was launched.
300 billion won will be supplied through a pilot operation by the end of the year, and a separate 햇살론카드 신청
It is a policy-oriented financial product that can be borrowed without restrictions on use.
Below is the relevant press release. 이베이스매뉴얼
How to apply for a Sunshine Loan Loan
1) Handling bank:
BNK Kyongnam Bank, NH Nonghyup Bank, DGB Daegu Bank, Kwangju Bank, BNK Busan Bank, SH Suhyup Bank,
13 banks including Shinhan Bank, Woori Bank, KB Kookmin Bank, IBK Industrial Bank, Jeonbuk Bank, Hana Bank, and Jeju Bank will be able to apply.
*From July 26, IBK, Nonghyup Bank, Jeonbuk Bank, and Kyongnam Bank launched the first round,
Other banks are planning to launch them sequentially within the year.
2) How to apply:
• Visit the affiliated bank in person
You can apply for a Sunshine Loan loan at any window of IBK, Nonghyup Bank, Jeonbuk Bank, and Kyongnam Bank.
• Can apply for a loan through mobile web or application
Jeonbuk Bank can also apply non-face-to-face through the mobile web.
Sunshine Loan Application Qualifications
1) Meet the income criteria:
Annual income of 35 million won or less (regardless of credit score), or the lowest 20/100 of credit score and annual income of 45 million won or less
2) One year has elapsed since the use of low-income financial products:
At least one year must have elapsed since the use of policy-based financial products such as New Hope Spore, Smile Microcredit, and Workers’ Sunshine Loan.
3) Low-credit, low-income earners with improved debt or credit rating:
* You can apply if your household debt balance has decreased or your credit score (KCB or Nice) has risen in the past year as of the date of application for guarantee.
Loan availability inquiry
You can easily inquire whether or not the target is eligible through the application of the People’s Finance Agency. meet the qualifications
We recommend that you check first and then consult a bank teller.
After registering as a member of the People’s Finance Agency application
1) Enter information in the ‘Sunshine Loan Bank’
2) You can check whether the conditions are met by clicking Preliminary Inquiry
How much is the Sunshine Loan Support?
1) Support Amount:
Loans are available up to a maximum of KRW 20 million, but loans are provided at different levels depending on creditworthiness and debt improvement.
(There is no limit on the use of the loan)
2) Repayment method:
3-year or 5-year amortization of principal and interest (maximum 1 year deferral period);
There is no prepayment fee like other financial products for low-income people.
3) Interest rates:
Each bank is different. An interest rate of 4.9 to 8% per annum (including guarantee fee) is applied.
• Social consideration recipients can receive a 1.0% discount
• A 0.1% discount is possible for those who have completed financial education or credit and debt management consulting
• It is said that each bank will provide additional support such as preferential interest rates for conscientious patients.
What documents are required?
1. ID
2. Documents proving employment and income
* Income proof documents include: Income Amount Proof, Labor and Business Income Withholding Tax Receipt, and a bankbook deposited for 3 months;
There are final returns and payment invoices for the tax base for global income tax confirmed by a tax accountant, and payment statements issued by pension institutions.
Each bank may request additional documents.
For a more detailed list of documents, see the table below.
Sunshine card?
The convenience of payment, installment payment, and credit card usage for those who are unable to issue a credit card due to low credit, etc.
A card supported by the poor and vulnerable class.
The same benefits as regular credit card billing discounts and interest-free installments will be provided.
1. Usage limit: up to 2 million won per month
2. The use of some services, such as credit card loans and cash advances, is restricted.
Sunshine Loan Card Qualifications
1. Less than 10% of credit score
2. Complete credit management training for at least 3 hours
3. Those who can prove their income
4. Maintain a bankbook balance of 200,000 won or more for 6 months (500,000 won for Samsung Card)
5. Cards can be issued only if the amount of disposable income after deducting the loan principal and interest is 6 million won or more
The release is scheduled for this coming October, and only one card per person is allowed. And cash advance, card loan, revolving, etc.
Its use is restricted in some industries, such as credit card loans and entertainment pubs.
Anyway, the government increased the subsidy for low-income financial products such as Sunshine Loan Bank from 7.9 trillion won to 9.6 trillion won. This means that we will expand our support to low-income people in need.
We plan to supply 300 billion won (sunshine loan) through a pilot operation by the end of the year.
I hope you enjoyed using it.
If you have a hard time with the Sunshine Loan, there is also a side-dollar loan!