NH Nonghyup Bank to Reduce Credit Loan Limit from 100 Million to 20 Million Won Starting November

Seoul Jung-gu NH Nonghyup Bank Headquarters Personal Loan Consultation Desk [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] NH Nonghyup Bank plans to significantly reduce the credit loan limit temporarily from next month until the end of the year.

According to the banking sector on the 27th, NH Nonghyup Bank decided to adjust the credit loan limit to 20 million KRW from December 1st to December 31st.

Accordingly, borrowers can receive loans up to a maximum of 20 million KRW per person, including both individual loans and limit loans. Until now, Nonghyup Bank's credit loan limit was 100 million KRW.

An official from Nonghyup Bank stated, "This is a measure to manage the pace of household loan growth this year."