Hanacard Launches Auto Installment Financing and Personal Credit Loans

Launch of Auto Installment Finance Products 'AutoHalbu' and 'AutoLoan'

[Asia Economy Reporter Ki Ha-young] Hana Card announced on the 18th that it started offering automobile installment financing products and general credit loan services from the 4th of this month.

Hana Card's automobile installment financing products can be used for purchasing vehicles of all brands, both domestic and imported cars. Through the Hana Card website and the Hana Card 1Q application (app), users can access auto financing services all at once, including limit inquiry, estimated interest rate confirmation, and vehicle information registration.

The automobile installment financing product services consist of two types: 'Auto Installment' and 'Auto Loan.' The Auto Installment service allows customers to pay for vehicle purchases with Hana Card and repay in installments for up to 60 months. The interest rate starts from an annual minimum of 1.0%. Customers without a Hana Card can use the service immediately through instant issuance. Depending on the product, prepayment amounts can receive up to 1.2% cashback, and loans can receive up to 1.0% cashback. The credit limit is up to 100 million KRW.

The Auto Loan service is available even to those who are not Hana Card members. It can be used at all dealerships selling domestic and imported cars, with a credit limit of up to 100 million KRW.

Separately, Hana Card is conducting an Auto Cashback event until the end of this month. Hana Card members who make a lump-sum payment of 3 million KRW or more with Hana Card when purchasing a car can receive up to 1.3% cashback on the amount.

Along with automobile financial products, Hana Card also launched credit loan products. These products are available even to non-members, providing smart financial services tailored to consumer preferences.

A Hana Card official stated, "We plan to challenge various installment financing markets such as leasing and rentals in the future," adding, "We will transform into a comprehensive digital payment company that offers customers diverse financial products along with smart digital experiences."