Woori Bank to Reduce Credit Line if 'Matong' Is Not Used After Approval

[Asia Economy Reporter Oh Ju-yeon] If you take out a negative balance account (Matong) unsecured loan from Woori Bank and do not use it, the credit limit will be reduced.

According to the banking sector on the 31st, Woori Bank decided that starting from the 1st of next month, when extending or renewing Matong unsecured loan products, if the higher value between the Matong limit usage rate in the last 3 months or during the contract period falls below 10%, the Matong limit amount will be reduced by 10%. If the usage rate is below 5%, it will be reduced by 20%.

This means that if you open a Matong with a maximum limit of 100 million KRW and use less than 10%, which is 10 million KRW, the credit limit will be reduced to 90 million KRW when extending or renewing the unsecured loan.

This applies to cases where unsecured loan products are extended or renewed after April 1st.

The applicable products include ▲Woori Main Workplace Loan ▲WON Workplace Loan ▲Preferred Workplace Unsecured Loan, among a total of 28 products, meaning almost all unsecured loan products except for some are subject to this.

However, loans with amounts of 20 million KRW or less are excluded.

Earlier, KB Kookmin Bank has also been operating a system since the end of July last year that reduces the loan limit based on the utilization rate for new or extended Matong loans exceeding 20 million KRW in contract amount.