[Asia Economy Reporter Haeyoung Kwon] IBK Industrial Bank launched the 'I-Won 햇살론 Youth' on the 23rd, a living stabilization fund support program targeting young people.
The loan targets are university (graduate) students, unemployed youth, and social beginners who have worked at small and medium-sized enterprises for less than one year, aged 34 or younger, with an annual income of 35 million KRW or less. The loan interest rate is 3.5% per annum, with a maximum limit of 12 million KRW. The repayment method is principal equal installment with a maximum term of 15 years.
IBK customers can apply for and issue a guarantee certificate through the Korea Inclusive Finance Agency application without visiting a branch, and then execute the loan via IBK mobile banking 'I-Won Bank.' The guarantee fee rate is applied differently depending on the customer, and early repayment is possible without additional fees.
IBK provides loan users with benefits such as ▲exemption from electronic financial fees and ATM transfer fees ▲consultation linkage for the youth-exclusive loan product for small and medium-sized enterprise employees, 'IBK First One Loan' ▲benefits for using the small and medium-sized enterprise specialized job platform 'I-Won Job.'
An IBK official said, "Young customers can easily and quickly receive low-interest policy financial products through mobile banking," adding, "We hope university students and young customers can focus on job hunting and settle into the formal financial system."
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