[Asia Economy Reporter Ki Ha-young] Woori Bank is reducing preferential interest rates on its credit loan products to meet the financial authorities' total household loan volume targets.
According to the financial sector on the 15th, Woori Bank will reduce the preferential interest rate conditions for 11 credit loan products starting from the 20th. The changes will apply to new contracts, extensions, and renewals made after the 20th.
The main credit loan product, 'Woori WON Workplace Loan,' has removed the preferential interest rate of 0.1% per annum that was provided based on credit card usage performance. The maximum preferential interest rate remains the same at 0.3% per annum. For 'Woori Home Master Loan,' preferential interest rate items applied for credit card use, non-face-to-face channels, and installment savings products have been eliminated. As a result, the maximum preferential interest rate has been reduced from 0.5% to 0.1% per annum.
The maximum preferential interest rate for the 'Chamgunin Preferential Loan' has been significantly reduced from 1.2% to 0.3% per annum. Four preferential interest rate items, including credit card and automatic transfer, have been deleted, and the preferential interest rate of 0.5% applied for salary transfers has been reduced to 0.1%. For the Fund Power Loan, the conditions for preferential interest rates such as credit card performance have been removed, adjusting the maximum preferential interest rate from 0.3% to 0.1% per annum. The 'Woori Dream Car Loan' has deleted the 0.1% preferential interest rate item that was provided based on credit card usage.
Woori Bank has also removed all preferential interest rate items for products that have already been discontinued, including 'Cheongbaekri Preferential Loan,' 'Newlywed Preferential Loan,' 'Woori Neighbor Love Credit Loan,' 'Woori Retirement Pension Loan,' and 'Woori U Credit Loan.'
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