신한저축은행 온라인햇살론Credit Loan
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The average interest rate changes depending on your credit score
Average interest rate
9.15%
Maximum limit
20 million won
31st
Main features
Policy finance loan provided by savings banks and the government to provide financial support to low-income, low-credit people
Loan interest rate
9% per annum (12-month variable interest rate)Loan interest rate = Base rate + additional interest rate *Base rate: Weighted average interest rate of all 1-year term deposits at savings banks in the previous month *Additional interest rate: Applied differently depending on customer credit rating, etc.
Loan limit
Up to 20 million won
Loan period
Up to 60 months
Interest rate type
12-month variable interest rate
Loan repayment method
Equal principal repayment method
Overdue interest rate
Agreement rate + 3%, up to 15%
Interest imposition period
Monthly deferral
Premature repayment fee
None
Application conditions
• Employed for more than 3 months and able to prove income; 19 years of age or older• Annual income Those with less than 45 million won and a personal credit score in the bottom 20/100* However, if the annual income is less than 35 million won, it is possible regardless of the NICE credit score. • Those who have completed financial education at the Korea Inclusive Finance Agency (those who are below Grade 4 in the Korea Inclusive Finance Agency Financial Diagnosis Evaluation Model). • Those who do not own real estate under their own name. • Those who have a joint certificate and mobile phone in their own name. Required documents.
Mobile phone, joint certificate, ID card in their own name.
Incidental expenses. • Korea Inclusive Finance Agency guarantee fee: 2% of the guarantee amount per annum. *Those who have completed financial education or credit debt management consulting (within 1 year prior to the application date): 0.1% reduction. *Low-income youth (less than 35 million won per annum and 34 years of age or younger): 0.5% reduction. *If the loan interest rate exceeds 10.5% per annum, the guarantee fee rate will be reduced by 60% of the excess amount (loan interest rate – 10.5%). Application
Notes
º The loan is determined based on the savings bank’s screening criteria and customer credit rating, and those who are subject to the issuance of a guarantee certificate from the Korea Small Business Finance Agency cannot proceed with the loan.º Please check the product description and terms and conditions before signing the contract.º You have the right to receive a sufficient explanation of the product in advance, and please understand the explanation before making a transaction.º Excessive lending may cause a decrease in your personal credit score.º A decrease in your personal credit score may result in restrictions or disadvantages in financial transactions.º In case of delinquency, you may be required to repay the principal and interest before the end of the contract period.º In case of delay in loan repayment, you may suffer financial disadvantages such as offsets with other receivables such as deposits or legal procedures.º For household loans where the loan interest rate is calculated based on the results of a personal credit evaluation, if the debtor’s credit rating increases (increased income, increased assets, decreased debt, increased credit score, etc.), you may request a reduction in the interest rate, and if necessary, you must submit supporting documents. However, the interest rate may not be reduced depending on internal policies or credit rating results.º This product is a product that allows withdrawal of the loan contract via internet banking, in writing, or by phone in accordance with Article 46 of the Financial Consumer Protection Act and related regulations.º After applying, please connect to the financial institution’s page and complete the necessary steps for loan processing.º For more information about the product, please refer to the IBK Savings Bank website (www.ibksb.co.kr) or contact the customer center at ☎1522-7900 (Weekdays 09:00-18:00).
