SBI Savings Bank, "Get Mid-Interest Loans on the Saida Bank App"

Minimum Interest Rate 8.9% per Year, Maximum Limit 20 Million Won

[Asia Economy Reporter Minyoung Kim] SBI Savings Bank has launched a mid-interest loan product to be sold on its own mobile financial platform, 'Cider Bank.'

SBI Savings Bank announced on the 11th that it has launched 'Standard Saeitdol 2.'

This Standard Saeitdol 2 was launched in collaboration with SGI Seoul Guarantee to expand the supply of mid-interest loans to low- and medium-credit borrowers.

This product offers a minimum interest rate of 8.9% per annum, a maximum limit of 20 million KRW, and a repayment period of up to 60 months, reducing both interest and repayment burdens. Additionally, it can be applied for through the mobile platform Cider Bank application, launched in June last year, allowing easy and convenient use anytime without time restrictions such as nights and holidays.

An SBI Savings Bank official said, “Recently, with the launch of the Cider Bank mid-interest minus account, low- and medium-credit borrowers can easily and conveniently use loans, receiving great response. With the launch of the Cider Bank Standard Saeitdol 2 exclusive product, we will strive to expand the supply of mid-interest loans to more low- and medium-credit customers and reduce interest burdens.”